Rights On Stock

• Category: Corporations - Public - Changes Affecting Capital Stock
• State: Multi-State
• Control #: US-CC-3-132
• Format: Word; Rich Text

Description

The document is a Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock for Oryx Energy Company, established under Delaware law. This form outlines the specific rights and characteristics of Series A Preference Stock, designated for use when issuing preferred shares with defined dividend and liquidation preferences. Key features include the entitlement to quarterly dividends that accumulate and the voting rights that allow holders to cast one vote per share on corporate matters. This document serves as a guide for the Board of Directors when creating and issuing this class of stock, ensuring compliance with corporate governance standards. It is essential for attorneys, partners, and corporate officers who manage stock issuances and capital structures to understand the preferences outlined to protect stakeholders' interests. Paralegals and legal assistants can utilize this form to help prepare necessary filings and ensure clarity in corporate records. The document also includes provisions for the adjustment of dividends based on events affecting the common shares, highlighting its importance in maintaining the integrity of shareholder rights.