Items 3.03 Material Modification to Rights of Security Holders.
On April 4, 2019, IBERIABANK Corporation (the “Company”) issued an aggregate of 4,000,000 depositary shares (the “Depositary Shares”), each representing a 1/400th ownership interest in a share of the Company’s 6.100%Fixed-to-FloatingNon-Cumulative Perpetual Preferred Stock, Series D, par value $1.00 per share, (“Series D Preferred Stock”), with a liquidation preference of $10,000 per share of Series D Preferred Stock (equivalent to $25 per depositary share) which represents $100,000,000 in aggregate liquidation preference. The Depositary Shares are represented by depositary receipts (the “Depositary Receipts”).
Under the terms of the Series D Preferred Stock, the ability of the Company to declare or pay any dividends on, make distributions with respect to, or to redeem, purchase or acquire, or make a liquidation payment on its common stock or any preferred stock ranking on a parity with or junior to the Series D Preferred Stock, will be subject to restrictions in the event that the Company does not declare dividends on the Series D Preferred Stock for the most recently completed dividend period. The terms of the Series D Preferred Stock are more fully described in the Articles of Amendment relating thereto (the “Articles of Amendment”) filed with the Secretary of the State of Louisiana, on April 2, 2019, and became effective on filing. The Articles of Amendment establish the voting and other powers, preferences and relative, participating, optional or other rights, and the qualifications, limitations and restrictions relating to the Series D Preferred Stock. A copy of the Articles of Amendment is included as Exhibit 3.1 to this Current Report onForm 8-K and are incorporated by reference herein.
The terms of the Depositary Shares are set forth in the Deposit Agreement, dated April 4, 2019, among the Company, Computershare Inc. and Computershare Trust Company, N.A., and the holders from time to time of the Depositary Receipts issued thereunder (the “Deposit Agreement”) and the form of Depositary Receipts. Copies of the Deposit Agreement and the form of Depositary Receipt are included as Exhibit 4.1 and Exhibit 4.2, respectively, to this Current Report onForm 8-K and are incorporated by reference herein.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On April 2, 2019, the Company filed the Articles of Amendment with the Secretary of State of the State of Louisiana, establishing the voting and other powers, preferences and relative, participating, optional or other rights, and the qualifications, limitations and restrictions of the Series D Preferred Stock. The Articles of Amendment became effective with the Secretary of State of the State of Louisiana upon filing. A copy of the Articles of Amendment is included as Exhibit 3.1 to this Current Report on Form8-K and is incorporated by reference herein.
Item 8.01 Other Events.
On April 4, 2019, the Company completed the issuance and sale of 4,000,000 Depositary Shares, each representing a 1/400th ownership interest in the Series D Preferred Stock, pursuant to an Underwriting Agreement, dated March 28, 2019, between the Company and Merrill Lynch, Pierce, Fenner & Smith Incorporated and Keefe, Bruyette & Woods, Inc., as representatives of the several underwriters named therein. The sale of the Depositary Shares was made pursuant to the Company’s Registration Statement onForm S-3 (FileNo. 333-230561). In connection with this offering, the legal opinion as to the legality of the Depositary Shares and the Series D Preferred Stock is being filed as Exhibit 5.1 to this Current Report onForm 8-K and is incorporated by reference herein.
