Annaly Capital Management, Inc.: Reclassifies 17,700,000 Series I preferred shares

What happened

• Annaly Capital Management, Inc. reported that on Oct 1, 2026 it redeemed all 17,700,000 shares of issued and outstanding 6.750% Series I fixed-to-floating rate cumulative redeemable preferred stock, par value $0.01 per share.
• The company filed Articles Supplementary with the State Department of Assessments and Taxation of Maryland on Oct 2, 2026 which, effective Oct 2, 2026, reclassified and redesignated all 17,700,000 of the recently redeemed shares of Series I preferred stock as shares of common stock, par value $0.01 per share.

Key details

• Number of shares reclassified: 17,700,000 Series I preferred shares.
• Preferred terms: 6.750% Series I fixed-to-floating rate cumulative redeemable preferred stock; par value $0.01 per share.
• Effective date of reclassification and filing: Oct 2, 2026; as of Oct 2, 2026 no shares of Series I preferred stock were authorized, issued and outstanding.
• Item 3.03: The information set forth in Item 5.03 of this Current Report on Form 8-K is incorporated by reference into this Item 3.03.

Why it may matter

• Item reported: Item 5.03 (Amendments to articles of incorporation or bylaws) discloses the Articles Supplementary that reclassified and redesignated the redeemed Series I preferred shares as common stock; Item 3.03 (Material modification to rights of security holders) incorporates that information. A filing does not show why the insider traded or why the company acted.