ArcBest Changes Fiscal Year End
Ticker: ARCB · Form: 8-K · Filed: Mar 4, 2024 · CIK: 894405
| Field | Detail |
|---|---|
| Company | Arcbest CORP /De/ (ARCB) |
| Form Type | 8-K |
| Filed Date | Mar 4, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-action, fiscal-year-change
TL;DR
ArcBest is shifting its fiscal year end from Dec 31 to June 30, effective Feb 29.
AI Summary
ArcBest Corporation filed an 8-K on March 4, 2024, reporting a change in its fiscal year end from December 31 to June 30. This change is effective as of February 29, 2024. The company, formerly known as Arkansas Best Corp, is incorporated in Delaware and headquartered in Fort Smith, Arkansas.
Why It Matters
This change in fiscal year end could impact how investors and analysts evaluate the company's performance and compare it to industry peers.
Risk Assessment
Risk Level: low — The filing is a routine administrative change and does not indicate any immediate financial distress or operational issues.
Key Numbers
- 1231 — Previous Fiscal Year End (The company previously ended its fiscal year on December 31.)
- June 30 — New Fiscal Year End (The company is changing its fiscal year end to June 30.)
Key Players & Entities
- ArcBest Corporation (company) — Registrant
- Arkansas Best Corp (company) — Former company name
- Delaware (jurisdiction) — State of incorporation
- Fort Smith, Arkansas (location) — Principal executive offices
- March 4, 2024 (date) — Date of report
- February 29, 2024 (date) — Date of earliest event reported
- June 30 (date) — New fiscal year end
- December 31 (date) — Previous fiscal year end
FAQ
What is the primary reason for ArcBest Corporation changing its fiscal year end?
The filing does not explicitly state the reason for the change, only that it is effective February 29, 2024.
When is the new fiscal year end for ArcBest Corporation?
The new fiscal year end for ArcBest Corporation is June 30, effective February 29, 2024.
What was ArcBest Corporation's previous fiscal year end?
ArcBest Corporation's previous fiscal year end was December 31.
Is this change related to a specific financial event or acquisition?
The filing does not indicate that this change is related to a specific financial event or acquisition; it appears to be an administrative change.
What is the effective date of the fiscal year end change?
The change in fiscal year end is effective as of February 29, 2024.
Filing Stats: 1,049 words · 4 min read · ~3 pages · Grade level 14.7 · Accepted 2024-03-04 17:27:03
Key Financial Figures
- $0.01 — ange on which registered Common Stock $0.01 Par Value ARCB Nasdaq Indicate by
Filing Documents
- arcb-20240229x8k.htm (8-K) — 52KB
- arcb-20240229xex3d1.htm (EX-3.1) — 291KB
- 0001558370-24-002370.txt ( ) — 505KB
- arcb-20240229.xsd (EX-101.SCH) — 3KB
- arcb-20240229_lab.xml (EX-101.LAB) — 16KB
- arcb-20240229_pre.xml (EX-101.PRE) — 10KB
- arcb-20240229x8k_htm.xml (XML) — 5KB
03 – AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN FISCAL YEAR
ITEM 5.03 – AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN FISCAL YEAR. The Board of Directors (the "Board") of ArcBest Corporation, a Delaware corporation (the "Company"), has recently approved the Company's Third Amended and Restated Certificate of Incorporation (as amended and restated, the "New Charter") that is subject to stockholder approval at the Company's 2024 Annual Meeting of Stockholders (the "Annual Meeting"). The Company's Second Amended and Restated Certificate of Incorporation (the "Current Charter") contains a provision that requires the affirmative vote of the holders of not less than 66-2/3% of the Company's outstanding voting stock to approve of any (i) merger or consolidation of the Company with or into any other corporation; (ii) sale, lease, exchange or other disposition of all, or substantially all, of the assets of the Company to or with any other corporation, person or other entity; (iii) dissolution of the Company; or (iv) amendment of the Current Charter (collectively, the "Supermajority Voting Requirements"). If the New Charter is approved by stockholders, then the Current Charter would be amended to eliminate the Supermajority Voting Requirements, and such matters, except in accordance with applicable law, would require approval by a majority of the outstanding voting stock of the Company. The Company has made recommendations regarding the New Charter in its preliminary proxy statement filed with the U.S. Securities and Exchange Commission (the "SEC") on March 4, 2024 in connection with the Annual Meeting. Additionally, on February 29, 2024, the Board approved and adopted the Eighth Amended and Restated Bylaws (as amended and restated, the "Bylaws"), effective immediately. The Bylaws were amended to: (i) adopt a majority of votes cast standard for uncontested director elections (while retaining a plurality standard in contested elections) ; (ii) clarify the director resignation policy in uncontested elections; (iii)
01 – FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 – FINANCIAL STATEMENTS AND EXHIBITS Exhibit No. Description of Exhibit 3.1 Eighth Amended and Restated Bylaws of ArcBest Corporation, dated as of February 29, 2024. 104 Cover Page Interactive Data File – The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document
SIGNATURES
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. ARCBEST CORPORATION (Registrant) Date: March 4, 2024 /s/ J. Matthew Beasley J. Matthew Beasley Chief Financial Officer