8-K

UNITED STATES

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): June 1, 2021

The Charles Schwab Corporation

(Exact name of registrant as specified in its charter)

Commission File Number:  1-9700

Delaware	94-3025021
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

3000 Schwab Way, Westlake, TX 76262

(Address of principal executive offices, including zip code)

(817) 859-5000

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock – $.01 par value per share	SCHW	New York Stock Exchange
Depositary Shares, each representing a 1/40th ownership interest in a share of 5.95% Non-Cumulative Preferred Stock, Series D	SCHW PrD	New York Stock Exchange
Depositary Shares, each representing a 1/40th ownership interest in a share of 4.450% Non-Cumulative Preferred Stock, Series J	SCHW PrJ	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

On June 1, 2021, The Charles Schwab Corporation (the Company) filed a Certificate of Elimination with the Secretary of State of the State of Delaware with respect to the Company’s 6.00% Non-Cumulative Preferred Stock, Series C (Series C Preferred Stock) which, effective upon filing, eliminated from the Company’s Fifth Restated Certificate of Incorporation, as amended, all matters set forth in the Certificate of Designations for the Series C Preferred Stock.

A copy of the Certificate of Elimination with respect to the Company’s Series C Preferred Stock is attached as Exhibit 3.1 to this report and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d)	Exhibits
Exhibit No.	Description
3.1	Certificate of Elimination of the 6.00% Non-Cumulative Perpetual Preferred Stock, Series C of The Charles Schwab Corporation.
104	Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

Signature(s)

    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.

		THE CHARLES SCHWAB CORPORATION
Date: June 2, 2021	By:	/s/ Peter Crawford
		Peter Crawford
		Executive Vice President and Chief Financial Officer

EX-3.1

EXHIBIT 3.1

CERTIFICATE OF ELIMINATION

OF THE

6.00% NON-CUMULATIVE PERPETUAL

PREFERRED STOCK, SERIES C

OF

THE CHARLES SCHWAB CORPORATION

(Pursuant to Section 151(g) of the General Corporation Law of the State of Delaware)

The Charles Schwab Corporation, a Delaware corporation (the “Corporation”), hereby certifies as follows:

1. Resolutions were adopted by the Pricing Committee of the Board of Directors of the Corporation, which resolutions are set forth in a Certificate of Designations filed with the Secretary of State of the State of Delaware on July 30, 2015 (the “Series C Certificate of Designations”), providing for and authorizing the issuance of 600,000 shares of 6.00% Non-Cumulative Perpetual Preferred Stock, Series C (the “Series C Preferred Stock”).

2. Resolutions were adopted by the Board of Directors of the Corporation on October 22, 2020 authorizing (a) the redemption of the Series C Preferred Stock, subject to certain conditions and

final determination by the Corporation’s Chief Financial Officer, and (b) the filing of a Certificate of Elimination with respect to the Series C Preferred Stock.

3. All shares of the Series C Preferred Stock that were previously issued have been redeemed.

4. The Board of Directors of the Corporation adopted the following resolutions:

RESOLVED, that after completion of the redemption of the Series C Preferred Stock, none of the authorized shares of Series C Preferred Stock will be outstanding, and none will be issued subject to the Series C Certificate of Designations; and

RESOLVED FURTHER, that each of the Chief Financial Officer, the Corporate Secretary and any Assistant Corporate Secretary of the Corporation is hereby authorized and directed, in the name and on behalf of the Corporation, to, after completion of the redemption of the Series C Preferred Stock, prepare, execute, and file with the Secretary of State of the State of Delaware a Certificate of Elimination of the Series C Preferred Stock to eliminate from the Corporation’s Fifth Restated Certificate of Incorporation, as amended, all matters set forth in the Series C Certificate of Designations with respect to the Series C Preferred Stock.

5. In accordance with the provisions of Section 151(g) of the General Corporation Law of the State of Delaware, all matters set forth in the Series C Certificate of Designations shall be eliminated from the Fifth Restated Certificate of Incorporation, as amended, of the Corporation and the shares of Series C Preferred Stock shall resume the status of authorized but unissued shares of Preferred Stock undesignated as to series.

IN WITNESS WHEREOF, the Corporation has caused this Certificate to be executed and acknowledged this 1st day of June, 2021.

THE CHARLES SCHWAB CORPORATION

By: /s/ R. Scott McMillen

Name: R. Scott McMillen

Title: Assistant Corporate Secretary

XML

Document and Entity Information	Jun. 01, 2021
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Jun. 01, 2021
Entity Registrant Name	SCHWAB CHARLES CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3025021
Entity Address, Address Line One	3000 Schwab Way
Entity Address, City or Town	Westlake
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76262
City Area Code	817
Local Phone Number	859-5000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000316709
Entity File Number	1-9700
Current Fiscal Year End Date	--12-31
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock – $.01 par value per share
Trading Symbol	SCHW
Security Exchange Name	NYSE
Series D Preferred Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/40th ownership interest in a share of 5.95% Non-Cumulative Preferred Stock, Series D
Trading Symbol	SCHW PrD
Security Exchange Name	NYSE
Series J Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/40th ownership interest in a share of 4.450% Non-Cumulative Preferred Stock, Series J
Trading Symbol	SCHW PrJ
Security Exchange Name	NYSE