Business Context and Reporting Period
This Form 8-K Current Report was filed by Triumph Bancorp, Inc. on November 15, 2019. The registrant is a Texas corporation with its principal executive offices in Dallas, Texas. The report details a corporate governance action regarding the company's capital structure.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a change to the company's Articles of Incorporation rather than financial performance.
Material Changes
On November 15, 2019, following Board of Directors approval, the company filed a Statement of Resolutions Deleting Series of Shares with the Texas Secretary of State. This action eliminated the Series A Non-Cumulative Non-Voting Preferred Stock and Series B Non-Cumulative Non-Voting Preferred Stock. The filing confirms that no shares of these preferred stock series were issued or outstanding at the time of the filing. Consequently, the previously authorized shares under these series resumed the status of authorized but unissued shares.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The document is a procedural notification of the deletion of preferred stock series.
Investor Verification Checklist
- Confirm that no Series A or Series B preferred shares were outstanding prior to the deletion.
- Review the Statement of Resolutions (Exhibit 3.1) for specific details on the reclassification of authorized shares.
- Verify the impact of this capital structure change on future equity issuance capabilities.