Business Context and Reporting Period
Company: Annaly Capital Management Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: August 19, 2026
Event: Announcement of the redemption of outstanding Series I Preferred Stock.
Key Financial Metrics
This filing does not report standard operating metrics such as revenue, net income, cash flow, or margins. The primary financial data relates to a specific capital structure event:
- Security Redeemed: 6.750% Series I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock.
- Shares Redeemed: 17,700,000 shares.
- Redemption Price: $25.00 per share.
- Total Redemption Value: $442,500,000 (calculated as 17,700,000 shares x $25.00).
- Payment Date: October 1, 2026.
- Accrued Dividends: None. All dividends through September 30, 2026, have been declared and paid.
Material Changes
The filing announces a material change to the company's capital structure through the full redemption of the Series I Preferred Stock. This action will reduce the company's outstanding preferred equity obligations by approximately $442.5 million upon the payment date.
Guidance, Outlook, and Risks
Management Commentary: The filing incorporates a press release (Exhibit 99.1) regarding the redemption but does not provide forward-looking guidance, earnings outlook, or general risk factors within the text of the 8-K itself.
Unusual Items: The redemption is a planned corporate action to retire a specific class of preferred stock. There are no accrued unpaid dividends associated with this transaction.
Investor Verification Checklist
- Verify the cash impact of the $442.5 million redemption payment scheduled for October 1, 2026, against the company's current liquidity position.
- Confirm the removal of the 6.750% dividend obligation on the Series I Preferred Stock from future earnings calculations.
- Review the attached Press Release (Exhibit 99.1) for any additional context regarding the rationale for the redemption.
- Check subsequent filings for confirmation of the payment execution on the Redemption Date.