Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Preferred Stock Issued and Outstanding

The following table summarizes the Company’s preferred stock issued and outstanding as of June 30, 2023 (in thousands, except for share amounts and percentages):


	Shares Issued and Outstanding as of June 30, 2023	Liquidation Preference as of June 30, 2023		Issue Date	Dividend Rate in Effect at June 30, 2023		Next dividend rate reset date	Dividend rate after reset date
Series A	10,000,000	$	250,000	March 5, 2019	6.150	%	March 15, 2024	3M Term SOFR(1) plus 3.65%
Series B	300,000	300,000		March 2, 2021	4.650	%	June 15, 2026	5 Yr U.S. Treasury plus 4.076%
Series C	300,000	300,000		October 13, 2021	4.125	%	December 15, 2026	5 Yr U.S. Treasury plus 3.149%
Total	10,600,000	$	850,000


(1) 3M Term SOFR includes a credit spread adjustment of 0.10%.

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details