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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): February 29, 2000
McLEODUSA INCORPORATED
(Exact name of registrant as specified in its charter)
Delaware 0-20763 42-1407240
(State or Other (Commission (IRS Employer
Jurisdiction of Incorporation) File Number) Identification Number)
McLeodUSA Technology Park
6400 C Street S.W., P.O. Box 3177
Cedar Rapids, IA 52406-3177
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: (319) 364-0000
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events
On February 29, 2000, McLeodUSA Incorporated issued a press release, which
is contained in the attached Exhibit 99.1 and is incorporated herein by this
reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
Description.
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(c) Exhibits.
99.1 Press Release, dated February 29, 2000, announcing the Board of
Directors of McLeodUSA Incorporated had declared a three-for-one
stock split to be effected in the form of a stock dividend.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 14, 2000 McLEODUSA INCORPORATED
By: /s/ Randall Rings
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Randall Rings
Vice President, Secretary and
General Counsel
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EXHIBIT INDEX
Exhibit 99.1 Press Release, dated February 29, 2000, announcing the Board of
Directors of McLeodUSA Incorporated had declared a three-for-one
stock split to be effected in the form of a stock dividend.
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Exhibit 99.1
[LOGO OF MCLEODUSA INCORPORATED APPEARS HERE]
McLeodUSA Incorporated
McLeodUSA Technology Park
6400 C Street SW, PO Box 3177
Cedar Rapids, IA 52406-3177
Press and Investor Contact: Bryce E. Nemitz
[email protected]
Phone: (319) 790-7800
FAX: (319) 790-7767
FOR IMMEDIATE RELEASE
McLeodUSA Announces Three-For-One Stock Split
CEDAR RAPIDS, IOWA -- February 29, 2000 -- McLeodUSA Incorporated (Nasdaq:
MCLD), one of the fastest growing telecommunications providers in the country,
today announced that its Board of Directors has declared a three-for-one stock
split in the form of a stock dividend. The Board decision was made following a
two-day policy and strategy session held recently involving Board members and
senior management. The record date for the stock split will be April 4, 2000.
Stockholders of record at market close on that date will receive two additional
shares of McLeodUSA common stock for each share held. Distribution of the
additional shares will take place on April 24, 2000.
"This is the second split for McLeodUSA stockholders in nine months,"
stated Clark McLeod, Chairman of the Board and Chief Executive Officer.
McLeodUSA initiated trading of its common stock in June of 1996 at $20. In July
1999, a two-for-one split occurred at $58.875, and yesterday's closing price was
$89.063. McLeod added, "This action by the McLeodUSA Board will create a share
price that should be attractive to a broad range of investors."
The three-for-one split is subject to stockholder approval of an amendment
to the McLeodUSA certificate of incorporation to increase the number of
authorized shares. An amendment to accomplish this increase is scheduled to be
considered at the March 30, 2000 Special Meeting of McLeodUSA stockholders.
McLeodUSA, founded in June of 1991, is a provider of integrated
telecommuni-cations services to business and residential customers. The
Company's telecommunications customers are located in 12 Midwest and Rocky
Mountain states, with 9 additional expansion states to be added. McLeodUSA is a
facilities-based telecommunications provider with 27 switches, 679,000 local
lines, 8,100 employees, and over 10,000 route miles of fiber optic network. In
the next 12 months, the Company's publishing subsidiaries plan to distribute 24
million copies of competitive directories in 22 states, expected to reach nearly
41 million people.
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