Business Context and Reporting Period
This Form 8-K filing by United Community Banks, Inc. (UCBI) is dated July 26, 2024. The report details a strategic corporate action regarding the listing of the Company's securities.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on a change in listing venue.
Material Changes
- Listing Transfer: The Company notified Nasdaq of its intention to voluntarily withdraw the listing of its Common Stock (symbol: UCBI) and Series I Non-Cumulative Preferred Stock Depositary Shares (symbol: UCBIO).
- New Venue: Both securities will transfer to the New York Stock Exchange (NYSE).
- New Symbols: Upon listing on the NYSE, the Common Stock will trade under the symbol "UCB" and the Depositary Shares under "UCB PRI."
- Timeline: Trading on Nasdaq is expected to cease at the close of business on August 5, 2024. Trading on the NYSE is scheduled to commence at the market open on August 6, 2024.
Guidance, Outlook, and Risks
The filing includes a press release (Exhibit 99.1) regarding the listing transfer but does not provide updated financial guidance, management commentary on future earnings, or specific risk factors related to the transfer beyond the standard regulatory disclosure. The information furnished is not deemed "filed" for purposes of Section 18 of the Exchange Act.
Investor Verification Checklist
- Verify the trading symbol change from "UCBI" to "UCB" for common stock and "UCBIO" to "UCB PRI" for preferred shares effective August 6, 2024.
- Confirm the cessation of Nasdaq trading on August 5, 2024, to avoid order execution errors.
- Review the attached press release (Exhibit 99.1) for any additional details on the rationale for the exchange transfer.