Form 4: Liberty 77 Capital L.P. Reports Conversion of Series C Preferred Stock to Common Stock in New York Community Bancorp, Inc.

Liberty 77 Capital L.P. and related entities report the conversion of Series C Preferred Stock into common stock of New York Community Bancorp, Inc. on June 7, 2024.

Summary

• On June 7, 2024, Liberty 77 Capital L.P. reported the conversion of 39,954 shares of Series C Noncumulative Convertible Preferred Stock of New York Community Bancorp, Inc. into common stock.
• The conversion occurred on a 1-for-1,000 basis, resulting in the acquisition of 39,954,000 shares of common stock.
• Following the transaction, Liberty 77 Capital L.P. and related entities beneficially own 81,645,300 shares of common stock.
• Steven T. Mnuchin, as a director, also holds 300 service-based restricted stock units that will vest over time into common stock.

Sentiment

Score: 6

Explanation: The document primarily reports a procedural conversion of stock, which is neither overtly positive nor negative. The sentiment is neutral, reflecting a standard regulatory filing.

Industry Context

This filing reflects a significant conversion of preferred stock to common stock, which can impact the company's capital structure and potentially influence its stock price. Monitoring the actions of major shareholders like Liberty 77 Capital is crucial for understanding the company's strategic direction.

Stakeholder Impact

• The conversion of preferred stock to common stock may dilute existing shareholders' equity.
• The increased number of common shares outstanding could affect the stock's trading volume and price.

Key Dates