Business: Cimarex Energy Co., 8 1/8% Series A Cumulative Perpetual Convertible Preferred Stock liquidation preference $1000 per share, not redeemable at the issuer's option at any time. <p> Cumulative distributions of 8.125% per annum ($81.25 per annum or $20.3125 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on 1/1, 4/1, 7/1 & 10/1 (NOTE: the ex-dividend date is one business day prior to the record date). <p> <s> The preferred shares are convertible any time at the holder’s option into 8.0421 shares of Cimarex Energy Co.(NYSE: XEC) common stock plus a cash consideration rate (see Prospectus for further information). </s> The preferred shares are convertible any time at the holder’s option into (i) the Cash Consideration, to the fullest extent permitted by law, and (ii) 34.10078 shares of fully paid and nonassessable shares of Coterra Common Stock, subject to adjustment. <p> On or after 10/15/2021, if the Closing Sale Price of the Common Stock as adjusted to add thereto the Cash Consideration Factor equals or exceeds 150% of the Conversion Price for 20 of any 30 consecutive trading days, the company may, at their option, cause the preferred shares to be converted into common shares at the then prevailing conversion price. Upon the occurance of a Fundamental Change of control the company may cause a Manditory Conversion of the preferred shares into common stock at the conversion rate plus a make-whole amount (see prospectus for more details). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the convertible preferred stock and the conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.