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Corpay logoCorpay CPAY

The company said it announced on March 7, 2024 that it will change its name from FLEETCOR Technologies, Inc. to Corpay, Inc. It said the name change will be effected on March 24, 2024 by merging CPAY Merger Sub, Inc., a wholly-owned subsidiary, into the company under Section 253 of the Delaware General Corporation Law.

8-KAmendments to Articles of Incorporation or Bylaws; Change in Fiscal YearFiled Period of report Summary published (UTC)

Key points

AI summary

  1. The company said it announced on March 7, 2024 that it will change its name from FLEETCOR Technologies, Inc. to Corpay, Inc. It said the name change will be effected on March 24, 2024 by merging CPAY Merger Sub, Inc., a wholly-owned subsidiary, into the company under Section 253 of the Delaware General Corporation Law.

  2. The company said its common stock will cease trading under the ticker "FLT" and will trade as "CPAY" on the New York Stock Exchange from March 25, 2024. Along with the ticker change, the company said the new CUSIP for its common stock will be 219948 106.

  3. The company said the new name better reflects its current portfolio of corporate payment solutions. Ron Clarke, Chairman and Chief Executive Officer, said Corpay will be used as the go-to-market brand for the Corporate Payments segment, while the Vehicle Payments and Lodging Payments segments will keep their existing brands.

  4. The company amended its Amended and Restated Bylaws as of March 24, 2024 to reflect the name change. In its press release, the company highlighted 2023 revenue of $3.75 billion and more than 800,000 business customers worldwide.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Announcement of Name Change and Implementation

The company said it announced on March 7, 2024 that it will change its name from FLEETCOR Technologies, Inc. to Corpay, Inc. It said the name change will be effected on March 24, 2024 by merging CPAY Merger Sub, Inc., a wholly-owned subsidiary, into the company under Section 253 of the Delaware General Corporation Law.

Source · Based on the filing body and exhibits

Ticker Changing from FLT to CPAY

The company said its common stock will cease trading under the ticker "FLT" and will trade as "CPAY" on the New York Stock Exchange from March 25, 2024. Along with the ticker change, the company said the new CUSIP for its common stock will be 219948 106.

Source · Based on the filing body and exhibits

Reasons for Name Change and Brand Policy

The company said the new name better reflects its current portfolio of corporate payment solutions. Ron Clarke, Chairman and Chief Executive Officer, said Corpay will be used as the go-to-market brand for the Corporate Payments segment, while the Vehicle Payments and Lodging Payments segments will keep their existing brands.

Source · Based on the filing body and exhibits

Bylaws Amendment and Corpay Company Overview

The company amended its Amended and Restated Bylaws as of March 24, 2024 to reflect the name change. In its press release, the company highlighted 2023 revenue of $3.75 billion and more than 800,000 business customers worldwide.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗
Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.