Document:

Exhibit

Exhibit 4.7

DESCRIPTION OF THE COMPANY’S SECURITIES REGISTERED PURSUANT TO 
SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

The following is a brief description of the common stock, par value $0.01 per share (“Common Stock”), of Peabody Energy Corporation (the “Company,” “we,” “us” or “our”), which is the only  security of the Company registered pursuant to Section 12 of the Securities Exchange Act of 1934. The following summary is not complete and is qualified in its entirety by reference to the Company’s Fourth Amended and Restated Certificate of Incorporation (the “Charter”), including the Certificate of Designation attached thereto, the Company’s Amended and Restated Bylaws (the “Bylaws”) and relevant sections of the Delaware General Corporation Law (the “DGCL”). 

General

We have the authority to issue a total of 450,000,000 shares of Common Stock, 100,000,000 shares of preferred stock, par value $0.01 per share (“Preferred Stock”), of which 50,000,000 were designated as Series A Convertible Preferred Stock (“Series A Preferred Stock”), and 50,000,000 shares  of series common stock, par value $0.01 per share (“Series Common Stock”).

The Board of Directors of the Company (the “Board”) is granted authority to issue both Preferred Stock and Series Common Stock of one or more series and, in connection with the creation of any such series, to fix by the resolution or resolutions providing for the issue of shares, any designation, voting powers, preferences and relative, participating, optional, or other special rights of such series, and the qualifications, limitations or restrictions attaching thereto.

We may not issue non-voting equity securities; provided, however, that such restriction shall (a) not apply beyond what is required under Section 1123(a)(6) of the Bankruptcy Code, (b) only have such force and effect for so long as Section 1123 of the Bankruptcy Code is in effect and applicable to us, and (c) in all events may be amended or eliminated in accordance with applicable law.

Voting Rights

Subject to the voting rights granted to Preferred Stock or Series Common Stock that may be outstanding from time to time, each share of our Common Stock shall be entitled to one vote per share, in person or by proxy, on all matters submitted to a vote for our stockholders on which the holders of Common Stock are entitled to vote. Except as otherwise required in the Charter, Bylaws or by applicable law, the holders of voting stock shall vote together as one class on all matters submitted to a vote of stockholders generally. The Charter and Bylaws do not provide for cumulative voting in connection with the election of directors. Accordingly, holders of more than 50% of the shares voting will be able to elect all of the directors. However, in a contested election, a plurality of the votes shall be enough to elect a director. The holders of a majority of our voting stock issued and outstanding and entitled to vote at a meeting of stockholders, present in person or represented by proxy, constitute a quorum at any such meeting of stockholders for the transaction of business.

Dividend Rights

Subject to any dividend rights granted to Preferred Stock or Series Common Stock that may be outstanding from time to time, the holders of shares of Common Stock shall be entitled to receive such dividends and other distributions in cash, property or shares of stock as may be declared thereon by the Board from time to time out of the assets or funds legally available. Before payment of any dividend,

there may be set aside out of any funds available for dividends such sum or sums as the directors, in their absolute discretion, think proper as a reserve or reserves to meet contingencies, or for equalizing dividends, or for repairing or maintaining any Company property, or for such other purpose as the directors shall think conducive to the interests of the Company, and the directors may modify or abolish any such reserve in the manner in which it was created.

No Preemptive Rights

No holder of our capital stock has any preemptive right to subscribe for any shares of our capital stock issued in the future.

Liquidation Rights

The holders of Common Stock shall be entitled to share ratably in the net assets remaining after payment pursuant to any liquidation rights granted to Preferred Stock or Series Common Stock that may be outstanding from time to time.

Preferred Stock

Series A Convertible Preferred Stock

In connection with the Company’s emergence from its Chapter 11 cases in April 2017, the Company issued shares of new Series A Preferred Stock in a private placement. Under the terms of the Certificate of Designation relating to the Series A Preferred Stock, all outstanding shares of Series A Preferred Stock were mandatorily converted into shares of Common Stock on January 31, 2018. As of February 20, 2020, there are no shares of Series A Preferred Stock outstanding.

Other Preferred Stock

As of February 20, 2020, there are no shares of any series of Preferred Stock outstanding. The Charter provides that the Board may, by resolution, establish one or more series of Preferred Stock having the number of shares and relative voting rights, designations, dividend rates, liquidation and other rights, preferences and limitations as may be fixed by the Board without further stockholder approval. The holders of our Preferred Stock may be entitled to preferences over common stockholders with respect to dividends, liquidation, dissolution or our winding up in such amounts as are established by the resolutions of the Board approving the issuance of such shares.

The issuance of Preferred Stock may have the effect of delaying, deferring or preventing a change in control without further action by the holders and may adversely affect voting and other rights of holders of our securities. In addition, issuance of Preferred Stock, while providing desirable flexibility in connection with possible acquisitions and other corporate purposes, could make it more difficult for a third party to acquire a majority of the outstanding shares of our voting stock.

Series Common Stock

As of February 20, 2020, there are no shares of Series Common Stock outstanding. The Charter provides that the Board may, by resolution, establish one or more series of Series Common Stock having the number of shares and relative voting rights, designations, dividend rates, liquidation and other rights, preferences and limitations as may be fixed by them without further stockholder approval. The holders of our Series Common Stock may be entitled to preferences over common stockholders and holders of Preferred Stock with respect to dividends, liquidation, dissolution or our winding up in such amounts as 

are established by the resolutions of our Board approving the issuance of such shares of Series Common Stock.

The issuance of Series Common Stock may have the effect of delaying, deferring or preventing a change in control without further action by the holders and may adversely affect voting and other rights of holders of our securities. In addition, issuance of Series Common Stock, while providing desirable flexibility in connection with possible acquisitions and other corporate purposes, could make it more difficult for a third party to acquire a majority of the outstanding shares of our voting stock.

Provisions of Our Charter, Bylaws and Delaware Law That May Have an Anti-Takeover Effect

Preferred Stock and Series Common Stock

See above under “Preferred Stock” and “Series Common Stock.”

Special Meetings of Stockholders

The Charter and Bylaws provide that special meetings of the stockholders may be called by our Chairman of the Board, Chief Executive Officer, President or the Board. A special meeting of stockholders shall also be called by our secretary upon the written request of stockholders entitled to cast at least 40% of all votes entitled to be cast at the special meeting.

Advance Notice of Stockholder Meetings

Notice of any annual or special meeting of stockholders, stating the place (if any), date and hour of the meeting shall be given to each stockholder entitled to notice of such meeting not less than ten nor more than 60 days before the date of such meeting.

Advance Notice for Nominations or Stockholder Proposals at Meetings

The Bylaws also prescribe the procedure that a stockholder must follow to nominate directors or bring business before stockholder meetings.

Nominations of persons for election to the Board and the proposal of business at stockholder meetings may be made by (1) the Company, (2) the Chairman of the Board or (3) any stockholder entitled to vote and who makes the nomination or proposal pursuant to timely notice in proper written form to our Secretary in compliance with the procedures set forth in the Bylaws. For a stockholder to nominate a candidate for director or to bring other business before a meeting, we must receive notice not less than 90 days nor more than 120 days prior to the first anniversary of the preceding year’s annual meeting; provided, however, that in the event that the date of the annual meeting is advanced by more than 20 days, or delayed by more than 70 days from such anniversary date, notice by the stockholder must be so delivered not earlier than 120 days prior to such annual meeting and not later than the close of business on the later of the 90th day prior to such annual meeting or the 10th day following the day on which public announcement of the date of such meeting is made. Notice of a nomination for director must also include a description of various matters regarding the nominee and the shareholder giving notice, as set forth in the Bylaws.

In addition, the Bylaws permit a stockholder, or group of no more than 20 stockholders meeting specified eligibility requirements, to include director nominees in our proxy materials for annual meetings. In order to be eligible, stockholders must have owned 3% or more of the outstanding Common Stock continuously for at least three years. Requests to include stockholder-nominated candidates in our 

proxy materials must be delivered to us within the time periods applicable to stockholder notices of nominations as described in the preceding paragraph. The maximum number of stockholder nominated candidates is the greater of two directors or the largest whole number that does not exceed 20% of the number of directors in office as of last day on which a notice under these provisions is delivered. The Bylaws provide a process to determine which candidates under these provisions exceed the maximum permitted number. Each stockholder seeking to include a director nominee in our proxy materials pursuant to these provisions is required to provide certain information, as set forth in the Bylaws. A stockholder nominee must also meet certain eligibility requirements, as set forth in the Bylaws.

At a meeting of stockholders, only such business (other than the nomination of candidates for election as directors in accordance with the Bylaws) will be conducted or considered as is properly brought before the annual meeting or a special meeting as specified in the Bylaws.

Action by Written Consent

The Charter prohibits action by written consent by stockholders.

Directors

The Board shall consist of at least three members and no more than 15, and may be fixed from time to time by a resolution adopted by the Board or by the stockholders. As of February 20, 2020, the Board has 12 members. Directors need not be stockholders but are subject to a Company policy that requires that they hold shares of Common Stock having a value equal to a specified multiple of their annual retainer.

Each director to be elected by stockholders shall be elected by a majority vote of the stockholders, except that if the number of nominees exceeds the number of directors to be elected, the directors shall be elected by a plurality of votes. There is no cumulative voting in the election of directors. Directors may be removed, with or without cause, by a majority vote of our voting stock.

All directors will be in one class and serve for a term ending at the annual meeting following the annual meeting at which the director was elected. Our current class of directors will be subject to reelection at our 2020 annual meeting of stockholders

The Board is authorized to adopt, amend, alter or repeal the Bylaws by the affirmative vote of a majority of the directors present at any regular or special meeting, subject to the power of the voting stock to adopt, amend, alter or repeal the Bylaws made by the Board. Notwithstanding anything in the Charter or Bylaws to the contrary, a vote of holders of 75% or more of our voting stock is required to adopt, amend, alter or repeal any provision inconsistent with the foregoing or the manner in which action may be taken by voting stock.

Delaware Law

The Company is a Delaware corporation subject to Section 203 of the DGCL. Section 203 provides that, subject to certain exceptions specified in the law, a Delaware corporation shall not engage in certain “business combinations” with any “interested stockholder” for a three-year period following the time that the stockholder became an interested stockholder unless:

		
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	prior to such time, the Board approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;

		
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	upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of our voting stock outstanding at the time the transaction commenced, excluding certain shares; or

		
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	at or subsequent to that time, the business combination is approved by the Board and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder.

Generally, a “business combination” includes a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested stockholder. Subject to certain exceptions, an “interested stockholder” is a person who, together with that person’s affiliates and associates, owns, or within the previous three years did own, 15% or more of our outstanding voting stock.

Under certain circumstances, Section 203 makes it more difficult for a person who would be an “interested stockholder” to effect various business combinations for a three-year period. The provisions of Section 203 may encourage companies or other persons interested in acquiring us to negotiate in advance with the Board because the stockholder approval requirement would be avoided if the Board approves either the business combination or the transaction that results in the stockholder becoming an interested stockholder. These provisions also may have the effect of preventing changes in the Board and may make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests.Exhibit

DESCRIPTION OF THE COMPANY’S SECURITIES REGISTERED 
PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

The following is a brief description of the Class A common stock, $0.01 par value per share (the “Class A Common Stock”), of ManTech International Corporation (the “Company”), which is the only security of the Company registered pursuant to Section 12 of the Securities Exchange Act of 1934 (the “Exchange Act”).
 
Description of Class A Common Stock

General

The following description does not purport to be complete and is subject to and qualified in its entirety by reference to the Company’s amended and restated certificate of incorporation (the “Certificate of Incorporation”), the Company’s amended and restated by-laws (the “Bylaws”) and the Delaware General Corporation Law (the “DGCL”). Copies of the Certificate of Incorporation and the Bylaws have been filed with the Securities and Exchange Commission as exhibits to the Company’s annual report on Form 10-K. The Company’s Class A Common Stock is listed on the Nasdaq Stock Market under the symbol “MANT.”

Authorized Capital Stock 
 
The Company’s authorized capital stock consists of 150,000,000 shares of Class A Common Stock, 50,000,000 shares of Class B common stock, $0.01 par value (the “Class B Common Stock,” and collectively with the Class A Common Stock, the “Common Stock”), and 20,000,000 shares of preferred stock, $0.01 par value (the “Preferred Stock”). Together, the Class A Common Stock and the Class B Common Stock comprise all authorized common stock of the Company. As of December 31, 2019, all of the outstanding shares of Class B Common Stock is beneficially owned by George J. Pedersen, the Company’s Executive Chairman and Chairman of the Board, Mr. Pedersen’s wife and the ManTech Special Assistance Fund, Inc.
 
Class A Common Stock 

Fully Paid and Nonassessable

The outstanding shares of Class A Common Stock are fully paid and nonassessable.

Voting Rights

Holders of shares of Class A Common Stock are entitled to one vote for each share held of record, and holders of shares of Class B Common Stock are entitled to ten votes for each share held of record, except with respect to any “going private transaction” (generally, a transaction in which Mr. Pedersen, his affiliates, his direct or indirect permitted transferees or a group, which includes Mr. Pedersen, such affiliates and permitted transferees, seek to buy all outstanding shares), as to which each share of Class A Common Stock and Class B Common Stock are entitled to one vote per share. The Class A Common Stock and the Class B Common Stock vote together as a single class on all matters submitted to a vote of stockholders, including the election of directors, except as required by law. Holders of shares of Common Stock do not have cumulative voting rights in the election of directors. 

Dividends and Stock Splits

Holders of shares of Class A Common Stock are entitled to receive, when and if declared by the board of directors from time to time, such dividends and other distributions in cash, stock or property from the Company’s assets or funds legally available for such purposes subject to any dividend preferences that may be attributable to preferred stock that may be authorized.  Each share of Class A Common Stock and Class B Common Stock is equal in respect of dividends and other distributions in cash, stock or property, except that in the case of stock dividends, only shares of Class A Common Stock will be distributed with respect to the Class A Common Stock and only shares of Class B Common Stock will be distributed with respect to Class B Common Stock. In no event will either Class A Common Stock or Class B Common Stock be split, divided or combined unless the other class is proportionately split, divided or combined. 
 
Rights Upon Liquidation 

Upon liquidation, dissolution or winding up of the Company’s affairs, the holders shares of Class A Common Stock are entitled to share ratably in the Company’s assets that are legally available for distribution, after payment of all debts, other liabilities and any liquidation preferences of outstanding Preferred Stock.

Redemption and Preemptive Rights

The holders of shares of Class A Common Stock have no redemption, preemptive or similar rights.

Conversion

The shares of Class A Common Stock are not convertible into any other series or class of securities. Each share of Class B Common Stock, however, is freely convertible into one share of Class A Common Stock at the option of the holders of the shares of Class B Common Stock. Except for transfers to certain family members or trusts established for the benefit of such family members, transfers to partnerships, corporations, or similar entities whose general partners, stockholders or members are, directly or indirectly, such family members, and transfers to certain charitable organizations or to one of the Company’s employee benefit plans (each, a “Permitted Transferee”), any transfer of Class B Common Stock will result in the automatic conversion of the transferred shares into Class A Common Stock. In addition, if Mr. Pedersen (either individually or through certain related entities) transfers shares of Class B Common Stock to one or more Permitted Transferees, and at any time after such transfer or transfers he does not exercise voting control over the transferred shares and does not exercise voting control over shares of Class B Common Stock representing in excess of 50.0% of the voting power of all outstanding shares of Common Stock entitled to vote on the election of directors, then all of the shares of Class B Common Stock which Mr. Pedersen (either individually or through certain related entities) has transferred to all Permitted Transferees and over which Mr. Pedersen does not exercise voting control will automatically convert to an equivalent number of shares of Class A Common Stock. Shares of Class B Common Stock may be pledged as collateral for indebtedness but, unless the pledgee is a Permitted Transferee, the shares will automatically convert to Class A Common Stock upon any transfer in foreclosure of the pledged shares. Upon Mr. Pedersen’s death, all outstanding shares of Class B Common Stock automatically convert to Class A Common Stock. 

Limitations on Rights of Holders of Shares of Class A Common Stock - Preferred Stock

The rights, preferences and privileges of holders of shares of Class A Common Stock are subject to, and may be adversely affected by, the rights of holders of shares of any series of Preferred Stock that we 

may designate and issue in the future. Subject to Delaware law, the Company’s board of directors, without further action by the stockholders, is authorized to issue an aggregate of 20,000,000 shares of Preferred Stock. No shares of Preferred Stock are outstanding. The board of directors may, without stockholder approval, issue Preferred Stock with dividend rates, redemption prices, preferences on liquidation or dissolution, conversion rights, voting rights and any other preferences, which rights and preferences could adversely affect the voting power or other rights of the holders of the Company’s Common Stock.  

Anti-Takeover Effects of Provisions of the Certificate of Incorporation, By-Laws and Delaware Law

Provisions of the Certificate of Incorporation and Bylaws may be deemed to have an anti-takeover effect and may delay, deter or prevent transactions involving and actual or potential change of control of the Company or a change in its management, including transactions in which stockholders might otherwise receive a premium for their shares, or transactions that the Company’s stockholders might otherwise deem to be in their best interests.

As of December 31, 2019, Mr. Pedersen controls the vote on substantially all matters submitted to a vote of the Company’s stockholders. As long as Mr. Pedersen beneficially owns a majority of the combined voting power of the Company’s Common Stock, he will have the ability, without the consent of the Company’s public stockholders, to elect all members of the Company’s board of directors and control the Company’s management and affairs. Mr. Pedersen’s voting control may have the effect of preventing or discouraging transactions involving an actual or potential change of control of the Company, regardless of whether a premium is offered over then-current market prices. Mr. Pedersen is also able to cause a change of control of the Company.

The Bylaws require that advance written notice of all director nominations or other business matters proposed to be brought before an annual meeting of stockholders be delivered to our secretary at our principal executive office not later than 60 days nor more than 120 days prior to the first anniversary of the date on which we first mailed our proxy materials for the prior year’s annual meeting of stockholders. This provision may make it more difficult for stockholders to nominate or elect directors or take an action opposed by the Company’s board of directors.

The Certificate of Incorporation and Bylaws provide that special meetings of the stockholders may be called by the Company’s secretary at the direction of: (i) the affirmative vote of a majority of the board of directors; (ii) the chairman of the board of directors; (iii) the chief executive officer; or (iv) the holders of shares representing a majority of the voting power of the outstanding Common Stock entitled to vote at such meeting of stockholders. This provision may have the effect of deterring hostile takeovers or delaying a change of control or a change in management of the Company.

The Certificate of Incorporation and Bylaws provide that stockholders entitled to take action on any matter may act solely at a meeting of stockholders duly called and held in accordance with law and our Certificate of Incorporation and Bylaws and may not act by a consent or consents in writing. This provision may have the effect of deterring hostile takeovers or delaying change of control or a change in management of the Company.

Our authorized but unissued shares of Common Stock and Preferred Stock may be issued without additional stockholder approval and may be utilized for a variety of corporate purposes.  The issuance of Preferred Stock could have the effect of delaying or preventing a change of control of the Company. The issuance of Preferred Stock could decrease the amount available for distribution to holders of shares of Common Stock or could adversely affect the rights and powers, including voting rights, of such holders. In certain circumstances, the issuance of Preferred Stock could have the effect of decreasing the market 

price of the Common Stock. The existence of unissued or unreserved Common Stock or Preferred Stock could enable the Company’s board of directors to issue shares to parties that favor the Company’s management, which could render more difficult any attempt to obtain control of the Company by means of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of the Company’s management. Such additional shares also could be used to dilute the stock ownership of persons seeking to obtain control of the Company. 

The Company is Delaware corporation and is therefore subject to the provisions of Section 203 of the DGCL, an anti-takeover law. In general, such statute prohibits a publicly held Delaware corporation from engaging in a “business combination” with any “interested stockholder” for a period of three years after the date of the transaction in which the person became an “interested stockholder,” unless: (i) such transaction is approved by the corporation’s board of directors prior to the date the interested stockholder obtains such status; (ii) upon consummation of such transaction, the “interested stockholder” beneficially owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the number of shares outstanding those shares owned by (a) persons who are directors and also officers and (b) employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or (iii) the “business combination” is approved by the corporation’s board of directors and authorized at an annual or special meeting of stockholders by the affirmative vote of at least 66-2/3% of the outstanding voting stock which is not owned by the “interested stockholder.”

A “business combination” includes mergers, asset sales and other transactions resulting in financial benefit to the “interested stockholder.” An “interested stockholder” is a person who, together with affiliates and associates, owns (or within three years, did own) beneficially 15% or more of a corporation’s voting stock. The statute could prohibit or delay mergers or other takeover or change of control attempts with respect to the Company and, accordingly, may discourage attempts to acquire the Company.

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