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I seen this scenario played out many times and each time I made $$$. Gonna make that $$$ here too. You can't stop what's coming
Black out restrictions lifted!!!! More people will be buying for sure!!
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
April 30, 2020
Date of Report (date of earliest event reported)
J. C. PENNEY COMPANY, INC.
(Exact name of registrant as specified in its charter)
Delaware
1-15274
26-0037077
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
6501 Legacy Drive
Plano
Texas
75024-3698
(Address of Principal Executive Offices)
(Zip Code)
(972) 431-1000
Registrant's telephone number, including area code
Not Applicable
(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 of 50 cents par value
JCP
New York Stock Exchange
Preferred Stock Purchase Rights
JCP
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.
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Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) Effective May 8, 2020, Therace Risch, Executive Vice President, Chief Information Officer of J. C. Penney Company, Inc. (the “Company”), is leaving the Company.
Item 5.04
Temporary Suspension of Trading Under Registrant’s Employee Benefit Plans.
Prior to March 26, 2020, the J. C. Penney Corporation, Inc. Savings, Profit-Sharing and Stock Ownership Plan, the J. C. Penney Corporation, Inc. Safe Harbor 401(k) Plan and the J. C. Penney Corporation, Inc. Mirror Savings Plan (collectively the “Plans”) permitted participant investments in the Company’s common stock. As previously reported on a Form 8-K filed on March 31, 2020, new contributions and transfers within the Plans into Company stock were temporarily suspended beginning March 26, 2020 and, as a result of this suspension, blackout restrictions were imposed upon the Company’s directors and executive officers under Section 306(a) of the Sarbanes-Oxley Act of 2002. The Company’s directors and executive officers were notified on May 1, 2020 that these blackout restrictions had ceased to apply as of May 1, 2020.
A copy of the notice of termination of blackout period to executive officers and directors, which includes the information specified in Rule 104(b) of Regulation BTR, is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01
Financial Statements and Exhibits.
(d)
Exhibit 99.1
Notice of Termination of Blackout Period to Executive Officers and Directors
Exhibit 104
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document
SIGNATURE
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.
Stores starting to open up again around here!!! JCP should be opening next week! Get ready for a rebound!
Lots of accumulation!
Volume before price!
JCPenny stock pick of the year!!! This thing could easily go over a dollar with news!
Looking good here!!!
Nice try lol! This thing is not gonna get wiped out. Shorts profits will tho imo
Lol shorts so scared!!! They know what's coming!!!!! Boom!
Bahahaha! Shorts running out of false claims to make! BK not happening either! Looking good hear! Love the long term plan!!!
Just filled out my proxy! NO reverse split even on the table!!!!! GO JCP!!!!!
More like a forward split
I'm buying and holding this will go back over a dollar easy!
This is gonna be one of those surprise bombs that happens after hours and blows the price up!
Couldn't agree more with you!!
Buying more tomorrow!!! Hehe! This is fun!!
I made bank on that one too! Lol! This one gonna be even better!!!!
Good move JCP!!
J. C. Penney Company, Inc. and J. C. Penney Corporation, Inc. (together, the “Company”) have elected not to make the approximately $12 million interest payment (the “Interest Payment”) due and payable on April 15, 2020 with respect to their 6.375% Senior Notes due 2036 (the “2036 Senior Notes”) on the due date. Under the indenture governing the 2036 Senior Notes, the Company has a 30-day grace period to make the Interest Payment before such non-payment constitutes an “event of default” with respect to the 2036 Senior Notes. The Company has elected to enter into the 30-day grace period with respect to the Interest Payment in order to evaluate certain strategic alternatives, none of which have been implemented at this time.
The information disclosed in this Item 7.01 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such a filing.
Cautionary Statement Regarding Forward-Looking Information
The Company has included statements in this Current Report on Form 8-K that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expect” and similar expressions identify forward-looking statements. Forward-looking statements are based only on the Company’s current assumptions and views of future events and financial performance. They are subject to known and unknown risks and uncertainties, many of which are outside of the Company’s control that may cause the Company’s actual results to be materially different from planned or expected results. Those risks and uncertainties include, but are not limited to, the potential outcome of the Company’s evaluation of strategic alternatives and the Company’s debt levels, liquidity and ability to access financing sources and capital markets, in particular as the Company manages its business through the COVID-19 pandemic and the resulting restrictions and uncertainties in the general economic and business environment. Please refer to the Company’s Annual Report on Form 10-K for the year ended February 2, 2020 for a further discussion of risks and uncertainties. Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. Any forward-looking statement made by us in this Current Report on Form 8-K is based only on information currently available to us and speaks only as of the date on which it is made. We do not undertake to update these forward-looking statements as of any future date.
Item 9.01
Financial Statements and Exhibits.
(d)
Exhibit 104
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document
SIGNATURE
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.
J. C. PENNEY COMPANY, INC.
By:
/s/ Bill Wafford
Bill Wafford
Executive Vice President, Chief Financial Officer
Date: April 15, 2020
I'll have a yacht!!! Maybe 2!!!
JCP gonna make shorts scream soon! Big money coming in
0 creditibility. Might as well quit posting. Noone cares.
JCP remind me of American Airlines stock I scored big on back in the day! Gonna happen here too!
Looking great here! Buy the dip!
Went ahead and bought me some .23s I'm loving this!!
I may have to buy more today instead of Friday!
Isn't it funny someone posts on here that there is no talks about bankruptcy and it's fake news then all of a sudden a real fake news article comes out? Lol coincidence? I think not.
Seeking Alpha shooters making up stories to try to scare JCP investors. Lol. Doesn't work anymore! Real investors just tune them out
You know it's getting good when people pull out all the stops to try to bring false fear! But fear sell greed!!!
I'm definitely buying more Friday!!! Go JCP!!!!
Yes it is fake. No one close to the company would tell anyone anything like that. That's exactly why no source is cited. Just a written essay by a shorter with no substance at all. Nice try! Any investor knows this and sees through the fake news. Us real investors know what's going on here.
Obvious fake news. The dead give away is pretending there are sources with no sources mentioned. Everyone knows that's a fake news shooters tactic
No bankruptcy. JCP going back over a dollar once news hits
Rofl. No ones saying anything about November. Nice try Shorty
People gonna be using their stimulus checks to buy JCP
Sure did and been loading up on cheapies! Perfect buy and hold opportunity!
Markets gonna fix itself and we all gonna benefit from it!
Added more today!!!!
JCP a huge play for longs!
Adding more today! This will be back over a dollar soon!!!!
I'm buying this whole sector now lol!! Best longs play ever!!