false 0000743238 0000743238 2024-05-30 2024-05-30
 
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
 
Date of Report (Date of Earliest Event Reported): May 30, 2024
 
THE SHYFT GROUP, INC.
(Exact Name of Registrant as Specified in its Charter)
 
 
Michigan
 
001-33582
 
38-2078923
(State or Other Jurisdiction
of Incorporation)
 
(Commission
File No.)
 
(IRS Employer
Identification No.)
         
41280 Bridge Street, Novi, Michigan 48375
(Address of Principal Executive Offices) (Zip Code)
 
Registrant’s Telephone Number, Including Area Code: (517) 543-6400
 
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
 
Name of each exchange
on which registered
Common stock
 
SHYF
 
The NASDAQ Stock Market LLC
 
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. ☐
 
 
 
 
 
Item 5.02.  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
On May 30, 2024, the Board of Directors of The Shyft Group, Inc. (“Shyft” or the “Company”) terminated, without cause, the employment of Colin Hindman, Shyft’s current Chief Human Resources Officer, effective June 14, 2024. Mr. Hindman will cease serving as an officer of the Company on June 3, 2024, and will transition his duties over the subsequent two weeks. In addition to accrued compensation and benefits, Mr. Hindman is expected to receive substantially the compensation and benefits to which he is entitled under the Company’s Executive Severance Plan for a termination without cause. The Company expects to enter into a transition and separation agreement with Mr. Hindman to memorialize the terms of his departure from the Company.
 
 
 
Item 9.01. Financial Statements and Exhibits
 
   
 
(d) Exhibits
 
Exhibit Number
Description
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 
 
 
SIGNATURES
 
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.
 
   
THE SHYFT GROUP, INC.
       
       
Dated: June 3, 2024
  
By:
/s/ Joshua A. Sherbin
   
Name:
Joshua A. Sherbin
   
Title:
 Chief Legal Officer and Chief Administrative Officer
       
 
 
v3.24.1.1.u2
Document And Entity Information
May 30, 2024
Document Information [Line Items]  
Entity, Registrant Name THE SHYFT GROUP, INC.
Document, Type 8-K
Document, Period End Date May 30, 2024
Entity, Incorporation, State or Country Code MI
Entity, File Number 001-33582
Entity, Tax Identification Number 38-2078923
Entity, Address, Address Line One 41280 Bridge Street
Entity, Address, City or Town Novi
Entity, Address, State or Province MI
Entity, Address, Postal Zip Code 48375
City Area Code 517
Local Phone Number 543-6400
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common stock
Trading Symbol SHYF
Security Exchange Name NASDAQ
Entity, Emerging Growth Company false
Amendment Flag false
Entity, Central Index Key 0000743238
Shyft (NASDAQ:SHYF)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Shyft Charts.
Shyft (NASDAQ:SHYF)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Shyft Charts.