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

Glencore International AG converted Series A Convertible Preferred Stock into common stock of Century Aluminum Co on June 30, 2024.

Summary

• Glencore International AG filed a Form 4 detailing changes in beneficial ownership of Century Aluminum Co stock.
• On June 30, 2024, Glencore converted 290.14 shares of Series A Convertible Preferred Stock into 29,014 shares of Common Stock.
• Following the transaction, Glencore indirectly owns 12,311,084 shares of Common Stock.
• Glencore International AG directly holds 27,500,000 shares of Common Stock.
• The Series A Convertible Preferred Stock is convertible into Common Stock at a rate of 100 shares of Common Stock per share of Preferred Stock.
• Glencore AG, a wholly-owned subsidiary of Glencore International AG, directly holds the shares of Series A Convertible Preferred Stock.
• Glencore plc is the ultimate parent company of Glencore International AG and may be deemed an indirect beneficial owner of the securities.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a stock conversion. It doesn't inherently convey positive or negative sentiment, but rather reports a factual transaction.

Industry Context

This filing reflects a change in Glencore's holdings in Century Aluminum, a company in the aluminum production industry. Such transactions are common among major shareholders and can reflect their investment strategy and outlook on the company's future performance.

Stakeholder Impact

• The conversion of preferred stock to common stock may have a slight dilutive effect on existing common shareholders.

Key Dates