Sun Life converts all Series 11QR preferred shares into Series 10R after elections fall short
SLF•Automatic conversion of preferred shares
Sun Life will automatically convert all remaining Series 11QR preferred shares into Series 10R shares on Sept. 30, 2026.
Automatic conversion was triggered because Series 11QR shares would fall below 1 million outstanding following elections.
Elections covered 1,400 Series 10R shares into Series 11QR shares, versus 621,829 Series 11QR shares into Series 10R shares.
After the conversion, Sun Life will have 8,000,000 Series 10R shares outstanding, with no Series 11QR shares remaining.
The Series 10R dividend rate resets to 5.52% from Sept. 30, 2026 through Sept. 30, 2031.
