SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-A
FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES
PURSUANT TO SECTION 12(b) OR (g) OF THE
SECURITIES EXCHANGE ACT OF 1934
WASHINGTON MUTUAL, INC.
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(Exact name of registrant as specified in its charter)
Washington 91-1653725
(State of incorporation or organization) (I.R.S. Employer Identification No.)
1201 Third Avenue, Seattle, Washington 98101
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(Address of principal executive offices and zip code)
Securities to be registered pursuant to Section 12(b) of the Act:
Title of each class Name of each exchange on which
to be so registered each class is to be registered
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Preferred Share Purchase Rights New York Stock Exchange
Pursuant to Rights Agreement
Securities to be registered pursuant to Section 12(g) of the Act:
Not Applicable
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(Title of Class)
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Item 1. Description of Securities to be Registered.
The Board of Directors (the "Board") of Washington Mutual, Inc. (the
"Corporation") has adopted a Shareholder Rights Plan. In connection with the
adoption of the Shareholder Rights Plan, the Board has declared a dividend
distribution of one preferred share purchase right (a "Right") for each
outstanding share of Common Stock, par value $.01 per share (the "Common
Stock"), of the Corporation. The dividend is payable to the stockholders of
record on January 4, 2001 (the "Record Date") with respect to shares of Common
Stock issued thereafter until the Distribution Date (as defined below) and, in
certain circumstances, with respect to shares of Common Stock issued after the
Distribution Date. Except as set forth below, each Right, when it becomes
exercisable, entitles the registered holder to purchase from the Corporation one
one-thousandth (1/1000th) of a share of Series RP Preferred Stock of the
Corporation, $.01 par value per share (the "Preferred Stock"), at a price of
$200.00 per one one-thousandth (1/1000th) of a share of Preferred Stock (the
"Purchase Price"), subject to adjustment. The description and terms of the
Rights are set forth in a Rights Agreement (the "Rights Agreement") between the
Corporation andMellon Investor Services, as Rights Agent (the "Rights Agent"),
dated as of December 20, 2000.
Initially, the Rights will be attached to all certificates representing
shares of Common Stock then outstanding, and no separate certificates
representing the Rights ("Right Certificates") will be distributed. The Rights
will separate from the Common Stock upon the earlier to occur of (i) a person or
group of affiliated or associated persons having acquired, without the prior
approval of the Board, beneficial ownership of securities which represent 15% or
more of the voting power (the "Voting Power") of the then outstanding voting
securities of the Corporation (except pursuant to a Permitted Offer, as
hereinafter defined) or (ii) 10 days (or such later date as the Board may
determine) following the commencement of, or announcement of an intention to
make, a tender offer or exchange offer the consummation of which would result in
a person or group of affiliated or associated persons becoming an Acquiring
Person (as hereinafter defined) (the "Distribution Date"). A person or group
whose acquisitions of shares of Common Stock cause a Distribution Date pursuant
to clause (i) above is an "Acquiring Person," with certain exceptions as set
forth in the Rights Agreement. The date that a person or group is first publicly
announced to have become such by the Corporation or such Acquiring Person is the
"Shares Acquisition Date." If any security holder provides evidence satisfactory
to the Board of beneficial ownership of shares of Common Stock representing 15%
or more of the Voting Power as of immediately prior to the first public
announcement of the execution of the Rights Agreement, then such security holder
will not be deemed an Acquiring Person with respect to such securities.
The Rights Agreement provides that, until the Distribution Date, the Rights
will be transferred with and only with the associated shares of Common Stock.
Until the Distribution Date (or earlier redemption or expiration of the Rights),
new Common Stock certificates issued after the Record Date upon transfer or new
issuance of shares of Common Stock will contain a notation incorporating the
Rights Agreement by reference. Until the Distribution Date (or earlier
redemption or expiration of the Rights), the surrender for transfer of any
certificates for shares of Common Stock outstanding as of the Record Date, even
without attaching thereto such notation or a copy of the Summary of Rights
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attached to the Rights Agreement as Exhibit C, will also constitute the transfer
of the Rights associated with the shares of Common Stock represented by such
certificate. As soon as practicable following the Distribution Date, Right
Certificates will be mailed to the holders of record of shares of the Common
Stock as of the Close of Business (as defined in the Rights Agreement) on the
Distribution Date (and to each initial record holder of certain shares of Common
Stock issued after the Distribution Date), and such separate Right Certificates
alone will evidence the Rights.
The Rights are not exercisable until the Distribution Date and will expire
at the close of business on January 4, 2011, unless earlier redeemed by the
Corporation as described below.
In the event that any person becomes an Acquiring Person (except pursuant
to a tender or exchange offer which is for all outstanding shares of Common
Stock at a price and on terms which a majority of certain members of the Board
determines to be adequate and in the best interests of the Corporation, its
stockholders and other relevant constituencies, other than such Acquiring
Person, its affiliates and associates (a "Permitted Offer")), each holder of a
Right will thereafter have the right (the "Flip-In Right") to receive upon
exercise the number of shares of Common Stock (or, in certain circumstances, of
one one-thousandths (1/1000ths) of a share of Preferred Stock or other
securities of the Corporation) having a value (immediately prior to such
triggering event) equal to two times the then-applicable Purchase Price of the
Right. Notwithstanding the foregoing, following the occurrence of the event
described above, all Rights that are, or (under certain circumstances specified
in the Rights Agreement) were, beneficially owned by any Acquiring Person or any
affiliate or associate thereof will be null and void. The Board has the option,
at any time after any person becomes an Acquiring Person, to exchange all or
part of the then-exercisable Rights (excluding those that have become void, as
described in the immediately preceding sentence) for shares of Common Stock, at
an exchange ratio determined by dividing the then-applicable Purchase Price by
the then-current market price per share of Common Stock as determined in
accordance with the Rights Agreement. However, this option generally terminates
if any person becomes the beneficial owner of 50% or more of the Voting Power.
In the event that, at any time following the Shares Acquisition Date, (i)
the Corporation is acquired in a merger or other business combination
transaction in which the holders of all of the outstanding shares of Common
Stock immediately prior to the consummation of the transaction are not the
holders of all of the surviving corporation's voting power, or (ii) more than
50% of the Corporation's assets or earning power is sold or transferred, in
either case with or to (x) an Acquiring Person or any affiliate or associate
thereof or (y) any other person in which such Acquiring Person, affiliate or
associate has an interest or any person acting on behalf of or in concert with
such Acquiring Person, affiliate or associate, or (z) if, in such transaction,
all holders of shares of Common Stock are not treated alike, any other person,
then each holder of a Right (except Rights which previously have been voided as
set forth above) shall thereafter have the right (the "Flip-Over Right") to
receive, upon exercise, common shares of the acquiring company (or, in certain
circumstances, its parent) having a value equal to two times the exercise price
of the Right. The holder of a Right will continue to have the Flip-Over Right
whether or not such holder exercises or surrenders the Flip-In Right.
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The Purchase Price payable, and the number of shares of Preferred Stock,
shares of Common Stock or other securities issuable, upon exercise of the Rights
are subject to adjustment from time to time to prevent dilution (i) in the event
of a stock dividend on, or a subdivision, combination or reclassification of,
the Preferred Stock, (ii) upon the grant to holders of shares of the Preferred
Stock of certain rights or warrants to subscribe for or purchase shares of
Preferred Stock at a price, or securities convertible into Preferred Stock with
a conversion price, less than the then current market price of the Preferred
Stock or (iii) upon the distribution to holders of shares of the Preferred Stock
of evidences of indebtedness or assets (excluding regular quarterly cash
dividends) or of subscription rights or warrants (other than those referred to
above).
The number of outstanding Rights and the number of one one-thousandths
(1/1000ths) of a share of Preferred Stock issuable upon exercise of each Right
are also subject to adjustment in the event of a stock split of the Common Stock
or a stock dividend on the Common Stock payable in Common Stock or subdivisions,
consolidations or combinations of the Common Stock occurring, in any such case,
prior to the Distribution Date.
With certain exceptions, no adjustment in the Purchase Price will be
required until cumulative adjustments require an adjustment of at least 1% in
such Purchase Price.
At any time prior to the earlier to occur of (i) a person becoming an
Acquiring Person or (ii) the expiration of the Rights, and under certain other
circumstances, the Corporation may redeem the Rights in whole, but not in part,
at a price (payable in cash or, at the Corporation's election, in Common Stock)
of $.001 per Right (the "Redemption Price"), which redemption shall be effective
upon the action of the Board. Additionally, following the Shares Acquisition
Date, the Corporation may redeem the then outstanding Rights in whole, but not
in part, at the Redemption Price, provided that such redemption is in connection
with a merger or other business combination transaction or series of
transactions involving the Corporation in which all holders of shares of Common
Stock are treated alike but not involving an Acquiring Person or its affiliates
or associates.
Other than those provisions relating to the rights, duties and obligations
of the Rights Agent, all of the provisions of the Rights Agreement may be
amended by the Board prior to the Distribution Date, except that the affirmative
vote of the holders of a majority of the then outstanding Rights (excluding
Rights which have become void in accordance with the Rights Agreement) will be
required (i) to increase the Purchase Price, to reduce the price at which the
Rights may be redeemed and/or to amend, in a manner adverse to the interests of
the holders of Rights, the exchange ratio of rights for shares of Common Stock
and (ii) following a Distribution Date, to supplement or amend any provision of
the Rights Agreement or the Rights in any other respect.
Until a Right is exercised, the holder thereof, as such, will have no
rights as a stockholder of the Corporation, including, without limitation, the
right to vote or to receive dividends. While the distribution of the Rights will
not be taxable to stockholders of the Corporation, stockholders may, depending
upon the circumstances, recognize taxable income should the Rights become
exercisable or upon the occurrence of certain events thereafter.
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This summary description of the Rights does not purport to be complete and
is qualified in its entirety by reference to the Rights Agreement, which is
hereby incorporated herein by reference.
As of December 26, 2000, there were 539,723,937 shares of Common Stock
outstanding. Each share of Common Stock outstanding on the Record Date will
receive one Right. As long as the Rights are attached to the shares of Common
Stock, the Corporation will issue one Right with each new share of Common Stock
so that all such shares will have attached rights.
The Rights have certain anti-takeover effects. The Rights will cause
substantial dilution to a person or group that attempts to acquire the
Corporation without conditioning the offer on the Rights being redeemed or a
substantial number of Rights being acquired. However, the Rights should not
interfere with any tender offer or merger approved by the Corporation (other
than with an Acquiring Person) because the Rights do not become exercisable in
the event of a Permitted Offer or other acquisition exempted by the Board.
Attached hereto as Exhibit 4.1 and incorporated herein by reference are
copies of the Rights Agreement and the exhibits thereto, as follows: Exhibit A
-- Form of Certificate of Designation, Preferences and Rights of Series RP
Preferred Stock of Washington Mutual, Inc.; Exhibit B -- Form of Right
Certificate; and Exhibit C -- Summary of Rights to Purchase Series RP Preferred
Stock. The foregoing description of the Rights is qualified in its entirety by
reference to the Rights Agreement and such exhibits thereto.
Item 2. Exhibits.
4.1 Rights Agreement, dated as of December 20, 2000, between
Washington Mutual, Inc. and Mellon Investor Services as Rights
Agent, which includes: as Exhibit A thereto, the Form of
Certificate of Designation, Preferences and Rights of Series RP
Preferred Stock of Washington Mutual, Inc.; Exhibit B thereto,
the Form of Right Certificate; and, as Exhibit C thereto, the
Summary of Rights to Purchase Series RP Preferred Stock.
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SIGNATURE
Pursuant to the requirements of Section 12 of the Securities Exchange Act
of 1934, the registrant has duly caused this registration statement to be signed
on its behalf by the undersigned, thereto duly authorized.
WASHINGTON MUTUAL, INC.
By: /s/ Fay L. Chapman
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Fay L. Chapman
Executive Vice President and
General Counsel
Date: December 29, 2000
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EXHIBIT INDEX
Exhibit Description
4.1 Rights Agreement, dated as of December 20, 2000, between
Washington Mutual, Inc. and Mellon Investor Services as
Rights Agent, which includes: as Exhibit A thereto, the Form
of Certificate of Designation, Preferences and Rights of
Series RP Preferred Stock of Washington Mutual, Inc.;
Exhibit B thereto, the Form of Right Certificate; and, as
Exhibit C thereto, the Summary of Rights to Purchase Series
RP Preferred Stock.
