UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On July 21, 2023, PotlatchDeltic Corporation (the “Company”) closed its previously disclosed purchase of a group annuity contract (the “Contract”) from American General Life Insurance Company (“AGL”). Pursuant to the Contract, the Company transferred to AGL approximately $70 million of future benefit obligations and annuity administration for certain retirees or their beneficiaries in payout status as of June 1, 2022, who participate in the Company’s pension plan. Under the Contract, AGL agreed to irrevocably make the annuity payments due thereunder and not seek to cancel or rescind the Contract. AGL commenced benefit payments to these retirees on June 1, 2022. The Contract is effective as of March 17, 2022, which is the date on which the Company paid the total premium amount to AGL. The Contract will terminate on the date that no further annuity payments are due thereunder.
The foregoing description of the Contract does not purport to be complete and is qualified in its entirety by the provisions of the Contract, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits. |
| 10.1* | Group annuity contract, effective March 17, 2022, between American General Life Insurance Company and PotlatchDeltic Corporation | |||
| 104 | Cover Page interactive data file (Embedded within the Inline XBRL document) | |||
| * | Pursuant to Item 601(b)(10)(iv) of Regulation S-K, certain information (indicated by brackets and asterisks) has been omitted from Exhibit 10.1 because it is both not material and is the type of information that the registrant treats as private or confidential. |
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 thereunto duly authorized.
| PotlatchDeltic Corporation | ||||||
| Date: July 21, 2023 | By: | /s/ Michele L. Tyler | ||||
| Michele L. Tyler Vice President, General Counsel and Corporate Secretary | ||||||