Super Micro Computer, Inc. — Form 10-K
Filed August 31, 2026 · analyzed by the Periodic Agent
10-K
— Neutral
significance 28/100
What the filing says
Super Micro Computer, Inc. filed amended and restated bylaws and disclosed terms of 4,312,500 shares of 7.00% Series A Mandatory Convertible Preferred Stock (with depositary shares trading as SMCIP on Nasdaq), each with $1,000 liquidation preference, issued June 15, 2026. The preferred stock mandatorily converts to common stock on June 1, 2029, at conversion rates ranging from 30.3040 to 36.3640 shares per preferred share depending on stock price at conversion. Preferred holders receive 7.00% annual cumulative dividends ($70/share/year) and limited voting rights if dividends are not paid for six+ periods.
Why this rating
Routine capital structure disclosure in 10-K. Preferred issuance (~$4.3B liquidation value) is material to $15.1B market cap but typical corporate financing. No active business changes reported.
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