Form 4: Glencore Converts Preferred Stock to Common Shares in Century Aluminum

Glencore International AG and its subsidiaries have reported the conversion of Series A Convertible Preferred Stock into common shares of Century Aluminum Co, adjusting their beneficial ownership structure.

Summary

• Glencore AG, a direct wholly-owned subsidiary of Glencore International AG, converted 164.77 shares of Series A Convertible Preferred Stock into 16,477 shares of Common Stock of Century Aluminum Co.
• The conversion occurred on June 30, 2025, with each share of Series A Convertible Preferred Stock converting into 100 shares of Common Stock.
• Following the transaction, Glencore AG indirectly beneficially owns 12,554,508 shares of Common Stock and 49,514.39 shares of Series A Convertible Preferred Stock.
• Glencore International AG directly holds 27,500,000 shares of Common Stock.
• Glencore International AG and Glencore plc are deemed indirect beneficial owners of the securities held by Glencore AG and Glencore International AG, respectively, and are identified as 10% owners and having director relationships with Century Aluminum Co.

Sentiment

Score: 5

Explanation: The document is a factual report of a routine insider transaction (stock conversion) and does not contain information that would inherently indicate positive or negative sentiment.

Future Outlook

No forward-looking statements or guidance are provided.

Industry Context

This filing details a change in beneficial ownership by a major shareholder (Glencore) in an aluminum production company (Century Aluminum Co). It reflects a structural adjustment in Glencore's equity holdings rather than a broader industry trend or competitive action.

Related Party Transactions

• The conversion of Series A Convertible Preferred Stock by Glencore AG into Common Stock of Century Aluminum Co is a transaction between related parties, as Glencore International AG and its subsidiaries (including Glencore AG and Glencore plc) are 10% owners and have director representation on Century Aluminum Co's board.

Stakeholder Impact

• Shareholders: The conversion slightly increases the number of common shares outstanding, shifting a portion of Glencore's equity holding from preferred to common shares. This is a structural change in ownership for Glencore, a significant shareholder.

Key Dates

Keywords

Century Aluminum, CENX, Glencore, Glencore International AG, Glencore AG, Glencore plc, Form 4, SEC filing, beneficial ownership, stock conversion, preferred stock, common stock, insider transaction