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[POS AM] The Shyft Group, Inc. SEC Filing

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Rhea-AI Filing Summary

On July 1, 2025, Kirkland's, Inc. (NASDAQ: KIRK) filed an Item 5.02 Form 8-K announcing a planned change in its senior leadership. Effective July 21, 2025, Andrea K. Courtois will become Senior Vice President and Chief Financial Officer, succeeding W. Michael Madden, who is resigning from the CFO post the same day after serving as Executive Vice President and CFO. Mr. Madden will remain an employee until August 15, 2025 to assist with the transition and will receive severance equal to his $400,000 annual base salary through December 31, 2025.

The company states that Madden’s departure is not related to any operational or accounting disagreements. Courtois brings more than two decades of specialty-retail finance experience, most recently as Vice President of FP&A at Francesca’s, and has held senior planning roles at Ann Taylor, JPMorgan Chase (Home Lending), and La Senza. Her compensation package includes: (a) base salary of $325,000, (b) annual bonus opportunity targeted at 60% of salary, (c) long-term incentive eligibility at 60% of salary, (d) 90 days of temporary housing, (e) up to $30,000 relocation reimbursement plus a $35,000 relocation bonus, and (f) participation in standard senior-executive benefit plans.

The filing includes the Separation Agreement with Madden (Exhibit 10.1) and the press release detailing the leadership change (Exhibit 99.1). No related-party transactions or special arrangements influenced Courtois’s selection.

Il 1° luglio 2025, Kirkland's, Inc. (NASDAQ: KIRK) ha presentato un Item 5.02 Form 8-K annunciando un cambiamento pianificato nella sua alta dirigenza. A partire dal 21 luglio 2025, Andrea K. Courtois assumerà il ruolo di Senior Vice President e Chief Financial Officer, succedendo a W. Michael Madden, che si dimetterà dalla posizione di CFO lo stesso giorno dopo aver ricoperto il ruolo di Executive Vice President e CFO. Il signor Madden rimarrà dipendente fino al 15 agosto 2025 per agevolare la transizione e riceverà una liquidazione pari al suo stipendio base annuo di 400.000 $ fino al 31 dicembre 2025.

L'azienda specifica che l'uscita di Madden non è legata a disaccordi operativi o contabili. Courtois vanta oltre vent'anni di esperienza nella finanza del settore retail specializzato, più recentemente come Vice President di FP&A presso Francesca’s, e ha ricoperto ruoli dirigenziali nella pianificazione presso Ann Taylor, JPMorgan Chase (Home Lending) e La Senza. Il suo pacchetto retributivo comprende: (a) uno stipendio base di 325.000 $, (b) un bonus annuale target pari al 60% dello stipendio, (c) l'idoneità a incentivi a lungo termine al 60% dello stipendio, (d) 90 giorni di alloggio temporaneo, (e) un rimborso spese di trasferimento fino a 30.000 $ più un bonus di trasferimento di 35.000 $, e (f) la partecipazione ai piani standard di benefit per dirigenti senior.

La documentazione include l'Accordo di Separazione con Madden (Esibizione 10.1) e il comunicato stampa che dettaglia il cambiamento nella leadership (Esibizione 99.1). Nessuna transazione con parti correlate o accordi speciali ha influenzato la scelta di Courtois.

El 1 de julio de 2025, Kirkland's, Inc. (NASDAQ: KIRK) presentó un Item 5.02 Form 8-K anunciando un cambio planificado en su alta dirección. A partir del 21 de julio de 2025, Andrea K. Courtois asumirá el cargo de Vicepresidenta Senior y Directora Financiera, sucediendo a W. Michael Madden, quien renunciará al puesto de CFO ese mismo día tras haber servido como Vicepresidente Ejecutivo y CFO. El señor Madden permanecerá empleado hasta el 15 de agosto de 2025 para asistir en la transición y recibirá una indemnización equivalente a su salario base anual de 400,000 $ hasta el 31 de diciembre de 2025.

La compañía declara que la salida de Madden no está relacionada con ningún desacuerdo operativo o contable. Courtois aporta más de dos décadas de experiencia en finanzas del retail especializado, recientemente como Vicepresidenta de FP&A en Francesca’s, y ha desempeñado roles superiores en planificación en Ann Taylor, JPMorgan Chase (Home Lending) y La Senza. Su paquete de compensación incluye: (a) salario base de 325,000 $, (b) oportunidad de bono anual con objetivo del 60% del salario, (c) elegibilidad para incentivos a largo plazo al 60% del salario, (d) 90 días de alojamiento temporal, (e) reembolso de hasta 30,000 $ por traslado más un bono de reubicación de 35,000 $, y (f) participación en planes estándar de beneficios para ejecutivos senior.

La presentación incluye el Acuerdo de Separación con Madden (Exhibición 10.1) y el comunicado de prensa que detalla el cambio de liderazgo (Exhibición 99.1). No hubo transacciones con partes relacionadas ni arreglos especiales que influyeran en la selección de Courtois.

2025ë…� 7ì›� 1ì�, Kirkland's, Inc. (NASDAQ: KIRK)ëŠ� Item 5.02 Form 8-Kë¥� 제출하여 고위 ê²½ì˜ì§„ì˜ ê³„íšë� ë³€ë™ì„ 발표했습니다. 2025ë…� 7ì›� 21ì¼ë¶€í„� Andrea K. Courtoisê°€ ìˆ˜ì„ ë¶€ì‚¬ìž¥ ê²� 최고재무책임ìž�(CFO)ë¡� 임명ë˜ë©°, ê°™ì€ ë‚� CFO ìžë¦¬ì—서 물러나는 W. Michael Maddenì� 후임ì� ë©ë‹ˆë‹�. Madden 씨는 8ì›� 15ì¼ê¹Œì§€ ì§ì›ìœ¼ë¡œ 남아 전환ì� ì§€ì›í•˜ë©�, 2025ë…� 12ì›� 31ì¼ê¹Œì§€ ì—°ê°„ 기본ê¸� 400,000달러ì—� 해당하는 퇴ì§ê¸ˆì„ 받게 ë©ë‹ˆë‹�.

회사ëŠ� Maddenì� 퇴사가 ìš´ì˜ ë˜ëŠ” 회계ìƒì˜ ì´ê²¬ê³� ê´€ë ¨ì´ ì—†ë‹¤ê³� 명시했습니다. CourtoisëŠ� 20ë…� ì´ìƒì� 전문 소매 금융 경험ì� 보유하고 있으ë©�, 최근ì—는 Francesca’sì—서 FP&A 부사장으로 근무했고, Ann Taylor, JPMorgan Chase (주íƒë‹´ë³´ëŒ€ì¶�), La Senza 등ì—ì„� 고위 기íšì§ì„ 역임했습니다. 그녀ì� ë³´ìƒ íŒ¨í‚¤ì§€ëŠ� (a) 기본ê¸� 325,000달러, (b) ì—°ê°„ 보너ìŠ� 기회 60% 목표, (c) 장기 ì¸ì„¼í‹°ë¸Œ ìžê²© 60%, (d) 90ì¼ê°„ 임시 ì£¼íƒ ì œê³µ, (e) 최대 30,000달러 ì´ì‚¬ 비용 환급 ë°� 35,000달러 ì´ì‚¬ 보너ìŠ�, (f) 표준 고위 ìž„ì› ë³µë¦¬í›„ìƒ ì°¸ì—¬ë¥� í¬í•¨í•©ë‹ˆë‹�.

제출 서류ì—는 Maddenê³¼ì˜ ë¶„ë¦¬ í•©ì˜ì„�(ì¦ê±°ìžë£Œ 10.1)와 리ë”ì‹� ë³€ê²� ë‚´ìš©ì� ìƒì„¸íž� 설명í•� ë³´ë„ìžë£Œ(ì¦ê±°ìžë£Œ 99.1)ê°€ í¬í•¨ë˜ì–´ 있습니다. Courtois ì„ ìž„ì—는 ê´€ë � 당사ìž� 거래ë‚� 특별í•� í•©ì˜ê°€ ì˜í–¥ì� 미치지 않았습니ë‹�.

Le 1er juillet 2025, Kirkland's, Inc. (NASDAQ : KIRK) a déposé un Item 5.02 Form 8-K annonçant un changement prévu au sein de sa haute direction. À compter du 21 juillet 2025, Andrea K. Courtois deviendra Vice-Présidente Senior et Directrice Financière, succédant à W. Michael Madden, qui démissionnera de son poste de CFO le même jour après avoir exercé en tant que Vice-Président Exécutif et CFO. M. Madden restera employé jusqu'au 15 août 2025 afin d'assister à la transition et percevra une indemnité équivalente à son salaire annuel de base de 400 000 $ jusqu'au 31 décembre 2025.

L'entreprise précise que le départ de Madden n'est lié à aucun désaccord opérationnel ou comptable. Courtois apporte plus de vingt ans d'expérience en finance dans le secteur du commerce de détail spécialisé, ayant récemment occupé le poste de Vice-Présidente de la FP&A chez Francesca’s, et ayant exercé des fonctions de planification senior chez Ann Taylor, JPMorgan Chase (Home Lending) et La Senza. Son package de rémunération comprend : (a) un salaire de base de 325 000 $, (b) une opportunité de bonus annuel ciblée à 60 % du salaire, (c) une éligibilité à des incitations à long terme à 60 % du salaire, (d) 90 jours de logement temporaire, (e) un remboursement de déménagement pouvant aller jusqu’� 30 000 $ ainsi qu’un bonus de déménagement de 35 000 $, et (f) la participation aux plans d’avantages standards pour cadres supérieurs.

Le dépôt comprend l’accord de séparation avec Madden (Exhibit 10.1) ainsi que le communiqué de presse détaillant le changement de direction (Exhibit 99.1). Aucune transaction avec des parties liées ni arrangement spécial n’a influencé la sélection de Courtois.

Am 1. Juli 2025 reichte Kirkland's, Inc. (NASDAQ: KIRK) ein Item 5.02 Form 8-K ein, in dem eine geplante Änderung in der Geschäftsleitung angekündigt wurde. Ab dem 21. Juli 2025 wird Andrea K. Courtois Senior Vice President und Chief Financial Officer und tritt die Nachfolge von W. Michael Madden an, der am selben Tag nach seiner Tätigkeit als Executive Vice President und CFO von seinem CFO-Posten zurücktritt. Herr Madden bleibt bis zum 15. August 2025 Angestellter, um bei der Übergabe zu unterstützen, und erhält eine Abfindung in Höhe seines Jahresgrundgehalts von 400.000 $ bis zum 31. Dezember 2025.

Das Unternehmen erklärt, dass Maddens Weggang nicht auf operative oder buchhalterische Meinungsverschiedenheiten zurückzuführen ist. Courtois bringt über zwanzig Jahre Erfahrung im Finanzbereich des Spezial-Einzelhandels mit, zuletzt als Vice President von FP&A bei Francesca’s, und hatte leitende Planungspositionen bei Ann Taylor, JPMorgan Chase (Home Lending) und La Senza inne. Ihr Vergütungspaket umfasst: (a) ein Grundgehalt von 325.000 $, (b) eine jährliche Bonuschance mit einem Ziel von 60 % des Gehalts, (c) Anspruch auf langfristige Anreize in Höhe von 60 % des Gehalts, (d) 90 Tage vorübergehende Unterkunft, (e) bis zu 30.000 $ Umzugskostenrückerstattung sowie einen Umzugsbonus von 35.000 $ und (f) die Teilnahme an den üblichen Senior-Executive-Benefit-Plänen.

Die Einreichung enthält die Trennungsvereinbarung mit Madden (Anlage 10.1) sowie die Pressemitteilung zur Führungsänderung (Anlage 99.1). Es gab keine Transaktionen mit verbundenen Parteien oder Sondervereinbarungen, die die Auswahl von Courtois beeinflusst hätten.

Positive
  • Seamless CFO succession with overlap period (Jul 21–Aug 15) limits operational disruption.
  • Incoming CFO brings 20+ years of specialty-retail FP&A experience, potentially strengthening financial planning and inventory management.
  • No accounting or policy disagreements cited, reducing risk of financial statement issues.
Negative
  • Departure of seasoned CFO may introduce short-term leadership uncertainty.
  • Severance payments through Dec 31, 2025 add incremental SG&A expense.

Insights

TL;DR – Orderly CFO transition; new hire brings retail FP&A depth; minimal near-term financial impact.

Kirkland’s announced the resignation of long-serving CFO W. Michael Madden and appointment of Andrea Courtois effective July 21. The company mitigates execution risk by overlapping both executives through mid-August and clarifies that the exit is unrelated to any accounting concerns, limiting downside perception. Severance of $400k is modest versus KIRK’s SG&A base and one-time in nature. Courtoisâ€� compensation aligns with peers and signals an emphasis on FP&A discipline, critical for a home-décor retailer navigating inventory volatility. Overall, governance appears sound and the transition is unlikely to materially alter near-term earnings guidance.

TL;DR – Transparent disclosure, no red flags; leadership continuity preserved through structured transition.

The 8-K provides full details of both the outgoing CFO’s severance terms and the incoming CFO’s employment package, reflecting good governance practice. Management confirms no disagreements, reducing the risk of restatement or investigative scrutiny. Courtois� prior roles across multiple retailers support board succession-planning objectives. Severance coverage through year-end is within common market ranges and bound by a formal Separation Agreement filed as an exhibit, enhancing investor visibility. The board’s Compensation Committee retains discretion over future pay adjustments, aligning incentives with performance benchmarks.

Il 1° luglio 2025, Kirkland's, Inc. (NASDAQ: KIRK) ha presentato un Item 5.02 Form 8-K annunciando un cambiamento pianificato nella sua alta dirigenza. A partire dal 21 luglio 2025, Andrea K. Courtois assumerà il ruolo di Senior Vice President e Chief Financial Officer, succedendo a W. Michael Madden, che si dimetterà dalla posizione di CFO lo stesso giorno dopo aver ricoperto il ruolo di Executive Vice President e CFO. Il signor Madden rimarrà dipendente fino al 15 agosto 2025 per agevolare la transizione e riceverà una liquidazione pari al suo stipendio base annuo di 400.000 $ fino al 31 dicembre 2025.

L'azienda specifica che l'uscita di Madden non è legata a disaccordi operativi o contabili. Courtois vanta oltre vent'anni di esperienza nella finanza del settore retail specializzato, più recentemente come Vice President di FP&A presso Francesca’s, e ha ricoperto ruoli dirigenziali nella pianificazione presso Ann Taylor, JPMorgan Chase (Home Lending) e La Senza. Il suo pacchetto retributivo comprende: (a) uno stipendio base di 325.000 $, (b) un bonus annuale target pari al 60% dello stipendio, (c) l'idoneità a incentivi a lungo termine al 60% dello stipendio, (d) 90 giorni di alloggio temporaneo, (e) un rimborso spese di trasferimento fino a 30.000 $ più un bonus di trasferimento di 35.000 $, e (f) la partecipazione ai piani standard di benefit per dirigenti senior.

La documentazione include l'Accordo di Separazione con Madden (Esibizione 10.1) e il comunicato stampa che dettaglia il cambiamento nella leadership (Esibizione 99.1). Nessuna transazione con parti correlate o accordi speciali ha influenzato la scelta di Courtois.

El 1 de julio de 2025, Kirkland's, Inc. (NASDAQ: KIRK) presentó un Item 5.02 Form 8-K anunciando un cambio planificado en su alta dirección. A partir del 21 de julio de 2025, Andrea K. Courtois asumirá el cargo de Vicepresidenta Senior y Directora Financiera, sucediendo a W. Michael Madden, quien renunciará al puesto de CFO ese mismo día tras haber servido como Vicepresidente Ejecutivo y CFO. El señor Madden permanecerá empleado hasta el 15 de agosto de 2025 para asistir en la transición y recibirá una indemnización equivalente a su salario base anual de 400,000 $ hasta el 31 de diciembre de 2025.

La compañía declara que la salida de Madden no está relacionada con ningún desacuerdo operativo o contable. Courtois aporta más de dos décadas de experiencia en finanzas del retail especializado, recientemente como Vicepresidenta de FP&A en Francesca’s, y ha desempeñado roles superiores en planificación en Ann Taylor, JPMorgan Chase (Home Lending) y La Senza. Su paquete de compensación incluye: (a) salario base de 325,000 $, (b) oportunidad de bono anual con objetivo del 60% del salario, (c) elegibilidad para incentivos a largo plazo al 60% del salario, (d) 90 días de alojamiento temporal, (e) reembolso de hasta 30,000 $ por traslado más un bono de reubicación de 35,000 $, y (f) participación en planes estándar de beneficios para ejecutivos senior.

La presentación incluye el Acuerdo de Separación con Madden (Exhibición 10.1) y el comunicado de prensa que detalla el cambio de liderazgo (Exhibición 99.1). No hubo transacciones con partes relacionadas ni arreglos especiales que influyeran en la selección de Courtois.

2025ë…� 7ì›� 1ì�, Kirkland's, Inc. (NASDAQ: KIRK)ëŠ� Item 5.02 Form 8-Kë¥� 제출하여 고위 ê²½ì˜ì§„ì˜ ê³„íšë� ë³€ë™ì„ 발표했습니다. 2025ë…� 7ì›� 21ì¼ë¶€í„� Andrea K. Courtoisê°€ ìˆ˜ì„ ë¶€ì‚¬ìž¥ ê²� 최고재무책임ìž�(CFO)ë¡� 임명ë˜ë©°, ê°™ì€ ë‚� CFO ìžë¦¬ì—서 물러나는 W. Michael Maddenì� 후임ì� ë©ë‹ˆë‹�. Madden 씨는 8ì›� 15ì¼ê¹Œì§€ ì§ì›ìœ¼ë¡œ 남아 전환ì� ì§€ì›í•˜ë©�, 2025ë…� 12ì›� 31ì¼ê¹Œì§€ ì—°ê°„ 기본ê¸� 400,000달러ì—� 해당하는 퇴ì§ê¸ˆì„ 받게 ë©ë‹ˆë‹�.

회사ëŠ� Maddenì� 퇴사가 ìš´ì˜ ë˜ëŠ” 회계ìƒì˜ ì´ê²¬ê³� ê´€ë ¨ì´ ì—†ë‹¤ê³� 명시했습니다. CourtoisëŠ� 20ë…� ì´ìƒì� 전문 소매 금융 경험ì� 보유하고 있으ë©�, 최근ì—는 Francesca’sì—서 FP&A 부사장으로 근무했고, Ann Taylor, JPMorgan Chase (주íƒë‹´ë³´ëŒ€ì¶�), La Senza 등ì—ì„� 고위 기íšì§ì„ 역임했습니다. 그녀ì� ë³´ìƒ íŒ¨í‚¤ì§€ëŠ� (a) 기본ê¸� 325,000달러, (b) ì—°ê°„ 보너ìŠ� 기회 60% 목표, (c) 장기 ì¸ì„¼í‹°ë¸Œ ìžê²© 60%, (d) 90ì¼ê°„ 임시 ì£¼íƒ ì œê³µ, (e) 최대 30,000달러 ì´ì‚¬ 비용 환급 ë°� 35,000달러 ì´ì‚¬ 보너ìŠ�, (f) 표준 고위 ìž„ì› ë³µë¦¬í›„ìƒ ì°¸ì—¬ë¥� í¬í•¨í•©ë‹ˆë‹�.

제출 서류ì—는 Maddenê³¼ì˜ ë¶„ë¦¬ í•©ì˜ì„�(ì¦ê±°ìžë£Œ 10.1)와 리ë”ì‹� ë³€ê²� ë‚´ìš©ì� ìƒì„¸íž� 설명í•� ë³´ë„ìžë£Œ(ì¦ê±°ìžë£Œ 99.1)ê°€ í¬í•¨ë˜ì–´ 있습니다. Courtois ì„ ìž„ì—는 ê´€ë � 당사ìž� 거래ë‚� 특별í•� í•©ì˜ê°€ ì˜í–¥ì� 미치지 않았습니ë‹�.

Le 1er juillet 2025, Kirkland's, Inc. (NASDAQ : KIRK) a déposé un Item 5.02 Form 8-K annonçant un changement prévu au sein de sa haute direction. À compter du 21 juillet 2025, Andrea K. Courtois deviendra Vice-Présidente Senior et Directrice Financière, succédant à W. Michael Madden, qui démissionnera de son poste de CFO le même jour après avoir exercé en tant que Vice-Président Exécutif et CFO. M. Madden restera employé jusqu'au 15 août 2025 afin d'assister à la transition et percevra une indemnité équivalente à son salaire annuel de base de 400 000 $ jusqu'au 31 décembre 2025.

L'entreprise précise que le départ de Madden n'est lié à aucun désaccord opérationnel ou comptable. Courtois apporte plus de vingt ans d'expérience en finance dans le secteur du commerce de détail spécialisé, ayant récemment occupé le poste de Vice-Présidente de la FP&A chez Francesca’s, et ayant exercé des fonctions de planification senior chez Ann Taylor, JPMorgan Chase (Home Lending) et La Senza. Son package de rémunération comprend : (a) un salaire de base de 325 000 $, (b) une opportunité de bonus annuel ciblée à 60 % du salaire, (c) une éligibilité à des incitations à long terme à 60 % du salaire, (d) 90 jours de logement temporaire, (e) un remboursement de déménagement pouvant aller jusqu’� 30 000 $ ainsi qu’un bonus de déménagement de 35 000 $, et (f) la participation aux plans d’avantages standards pour cadres supérieurs.

Le dépôt comprend l’accord de séparation avec Madden (Exhibit 10.1) ainsi que le communiqué de presse détaillant le changement de direction (Exhibit 99.1). Aucune transaction avec des parties liées ni arrangement spécial n’a influencé la sélection de Courtois.

Am 1. Juli 2025 reichte Kirkland's, Inc. (NASDAQ: KIRK) ein Item 5.02 Form 8-K ein, in dem eine geplante Änderung in der Geschäftsleitung angekündigt wurde. Ab dem 21. Juli 2025 wird Andrea K. Courtois Senior Vice President und Chief Financial Officer und tritt die Nachfolge von W. Michael Madden an, der am selben Tag nach seiner Tätigkeit als Executive Vice President und CFO von seinem CFO-Posten zurücktritt. Herr Madden bleibt bis zum 15. August 2025 Angestellter, um bei der Übergabe zu unterstützen, und erhält eine Abfindung in Höhe seines Jahresgrundgehalts von 400.000 $ bis zum 31. Dezember 2025.

Das Unternehmen erklärt, dass Maddens Weggang nicht auf operative oder buchhalterische Meinungsverschiedenheiten zurückzuführen ist. Courtois bringt über zwanzig Jahre Erfahrung im Finanzbereich des Spezial-Einzelhandels mit, zuletzt als Vice President von FP&A bei Francesca’s, und hatte leitende Planungspositionen bei Ann Taylor, JPMorgan Chase (Home Lending) und La Senza inne. Ihr Vergütungspaket umfasst: (a) ein Grundgehalt von 325.000 $, (b) eine jährliche Bonuschance mit einem Ziel von 60 % des Gehalts, (c) Anspruch auf langfristige Anreize in Höhe von 60 % des Gehalts, (d) 90 Tage vorübergehende Unterkunft, (e) bis zu 30.000 $ Umzugskostenrückerstattung sowie einen Umzugsbonus von 35.000 $ und (f) die Teilnahme an den üblichen Senior-Executive-Benefit-Plänen.

Die Einreichung enthält die Trennungsvereinbarung mit Madden (Anlage 10.1) sowie die Pressemitteilung zur Führungsänderung (Anlage 99.1). Es gab keine Transaktionen mit verbundenen Parteien oder Sondervereinbarungen, die die Auswahl von Courtois beeinflusst hätten.

As filed with the U.S. Securities and Exchange Commission on July 1, 2025

Registration No. 333-25357

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

POST-EFFECTIVE AMENDMENT NO.1 TO FORM S-3 REGISTRATION STATEMENT NO. 333-25357

UNDER THE SECURITIES ACT OF 1933

The Shyft Group, Inc.
(Exact name of registrant as specified in its charter)

Michigan
 
38-2078923
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)

41280 Bridge Street
Novi, Michigan 48375
(Address, including zip code, of registrant’s principal executive offices)

Jay Goldbaum
Deputy General Counsel
Novi, MI 48375
Telephone: (517) 543-6400
(Name, address, including zip code, and telephone number,
including area code, of agent for service)

Approximate date of commencement of proposed sale to the public: Not applicable. Removal from registration of securities that were not sold pursuant to the above referenced registration statement.
 
If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box.  ☐
 
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box.  ☐
 
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐
 
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐
 
If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box.  ☐
 
If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box.  ☐
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer
Accelerated filer
Non-accelerated filer
Smaller reporting company
   
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 7(a)(2)(B) of the Securities Act. ☐



EXPLANATORY NOTE
 
DEREGISTRATION OF SECURITIES
 
This Post-Effective Amendment No. 1 relates to the following Registration Statements on Form S-3 (the “Registration Statement”) filed by The Shyft Group, Inc., a Michigan corporation (the “Company”) with the Securities and Exchange Commission (the “SEC”):

 
Registration Statement on Form S-3 (No. 333-25357), which was filed on April 17, 1997, in relation to the registration of up to $1,350,000 in aggregate principal amount of the Company’s common stock, par value $0.01 per share (“Common Stock”).

On July 1, 2025, pursuant to the terms of the Agreement and Plan of Merger (the “Merger Agreement”), dated as of December 16, 2024, by and among the Company, Aebi Schmidt Holding AG, a Switzerland Aktiengesellschaft (“Aebi Schmidt”), ASH US Group, LLC, a Delaware limited liability company and direct, wholly owned subsidiary of Aebi Schmidt (“Holdco”), and Badger Merger Sub, Inc., a Michigan corporation and direct, wholly owned subsidiary of Holdco (“Merger Sub”), Merger Sub merged with and into the Company (the “Merger”), with the Company surviving the Merger as a direct, wholly-owned subsidiary of Holdco and as an indirect, wholly-owned subsidiary of Aebi Schmidt.
 
As a result of the consummation of the transactions contemplated by the Merger Agreement, the Company has terminated all offerings of its securities pursuant to the Registration Statement. In accordance with the undertakings made by the Company in the Registration Statement to remove from registration by means of a post-effective amendment any securities that had been registered for issuance but remain unsold at the termination of the offering, the Company hereby terminates the effectiveness of the Registration Statement and removes and withdraws from registration any and all securities registered pursuant to the Registration Statement that remain unsold as of the date hereof. The Registration Statement is hereby amended, as appropriate, to reflect the deregistration of such securities. After giving effect to this Post-Effective Amendment No. 1 to the Registration Statement, there will be no remaining securities registered by the Company pursuant to the Registration Statement.
 
The foregoing description of the Merger, the Merger Agreement and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by, the Merger Agreement, which is attached as Exhibit 2.1 to the Company’s Current Report on Form 8–K filed with the SEC on December 20, 2024.
 

SIGNATURES
 
Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this Post-Effective Amendment No. 1 to the Registration Statement to be signed on its behalf by the undersigned. No other person is required to sign this Post-Effective Amendment No. 1 to the Registration Statement in reliance on Rule 478 of the Securities Act of 1933, as amended.

 
THE SHYFT GROUP, INC.
 
 
By:
/s/ Jay Goldbaum
 
Name: Jay Goldbaum
 
Title: Deputy General Counsel



FAQ

Why did Kirkland's (KIRK) CFO W. Michael Madden resign?

The filing states Mr. Madden’s departure is voluntary and not related to operations, accounting policies, or disagreements with the company.

Who is Kirkland's new CFO and what is her background?

Andrea K. Courtois, a 20-year retail finance veteran, most recently VP of FP&A at Francesca’s, will become CFO on July 21, 2025.

When will the CFO transition at Kirkland's take effect?

Courtois assumes the CFO role on July 21, 2025, with Madden assisting until August 15, 2025.

How much severance will the outgoing CFO receive?

Mr. Madden will be paid his current $400,000 annual base salary through December 31, 2025.

What compensation package was offered to the incoming CFO?

Courtois will receive a $325,000 base salary, 60% target bonus, 60% long-term incentives, up to $65,000 in relocation benefits, and standard executive benefits.

Were any related-party transactions disclosed regarding the new CFO?

No. The company states no related-party transactions are reportable under Item 404(a).
Shyft Group

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429.92M
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Farm & Heavy Construction Machinery
Construction Machinery & Equip
United States
NOVI