Proficient Auto Logistics Enters Material Definitive Agreement

TL;DR

PAL just signed a big deal, details TBD.

AI Summary

Proficient Auto Logistics, Inc. announced on January 26, 2025, that it entered into a material definitive agreement. The company, incorporated in Delaware with its principal executive offices in Jacksonville, FL, filed a Form 8-K to report this event. The specific details of the agreement were not disclosed in the provided excerpt.

Why It Matters

This filing indicates a significant new development for Proficient Auto Logistics, potentially impacting its business operations and future financial performance.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could be positive or negative depending on the terms, but the lack of detail introduces uncertainty.

Key Numbers

• 001-42035 — Commission File Number (Identifies the company's SEC filings)
• 93-1869180 — IRS Employer Identification Number (Company's tax identification number)

Key Players & Entities

• Proficient Auto Logistics, Inc. (company) — Registrant
• January 26, 2025 (date) — Date of earliest event reported
• Jacksonville, FL (location) — Principal executive offices
• Delaware (location) — State of incorporation

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share PAL Nasdaq Glo
• $250,000 — ive a base salary at the annual rate of $250,000 ("Base Salary"), retirement, health, we

Filing Documents

• ea0229218-8k_proficient.htm (8-K) — 46KB
• ea022921801ex10-1_proficient.htm (EX-10.1) — 30KB
• ea022921801ex99-1_proficient.htm (EX-99.1) — 10KB
• ex10-1_001.jpg (GRAPHIC) — 5KB
• 0001213900-25-008434.txt ( ) — 280KB
• pal-20250126.xsd (EX-101.SCH) — 3KB
• pal-20250126_lab.xml (EX-101.LAB) — 33KB
• pal-20250126_pre.xml (EX-101.PRE) — 22KB
• ea0229218-8k_proficient_htm.xml (XML) — 4KB

01 Entry

Item 1.01 Entry into a Material Definitive Agreement On January 26, 2025, Proficient Auto Logistics, Inc. (the "Company"), Delta Automotive Services, LLC (d/b/a Delta Transport, "Delta") and John Skiadas ("Mr. Skiadas"), entered into a consulting agreement (the "Consulting Agreement"). Mr. Skiadas is an employee of the Company and a member of the Company's Board of Directors (the "Board"). Pursuant to the terms of the Consulting Agreement, Mr. Skiadas will provide advisory services to assist in transitioning responsibilities and workstreams to the Vice President of Operations for the East region, to facilitate Delta's integration to the Company, among other services. The term of the Consulting Agreement is from December 16, 2024 through February 28, 2025 (the "Termination Date"), provided that the parties may mutually agree to extend the term by up to 90 days. As compensation for the services provided, Mr. Skiadas will receive a base salary at the annual rate of $250,000 ("Base Salary"), retirement, health, welfare and other fringe benefits comparable to those of other employees of Delta. The Consulting Agreement further provides that the Board will nominate Mr. Skiadas for reelection to the Board at the Company's next annual meeting of stockholders. Mr. Skiadas will continue to receive the Base Salary until the earlier of (i) six months from the Termination Date (without regard to any mutually agreed extension of the Termination Date) and (ii) August 31, 2025, which payment shall be in lieu of any severance pay otherwise payable to Mr. Skiadas pursuant to prior agreements between Mr. Skiadas, the Company and Delta. Mr. Skiadas will receive full COBRA premium for health, dental, and vision benefits (if any) from the Termination Date until the earlier of (y) six months from the Termination Date and (z) December 31, 2025, contingent upon Mr. Skiadas' execution of a release agreement. Mr. Skiadas will be entitled to retain, and receive the title to, his Company

01 Financial

Item 9.01 Financial (d) Exhibits Exhibit Number Description 10.1* Consulting Agreement, dated January 26, 2025, by and among Proficient Auto Logistics, Inc., Delta Automotive Services, LLC (d/b/a Delta Transport), and John Skiadas 99.1 Press Release, dated January 30, 2025 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Information in this exhibit has been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K. Forward-Looking This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to possible or assume future results of our business, financial condition, results of operations, liquidity, plans and objectives. You can generally identify

forward-looking statements because they contain words such as "may," "will," "should," "expects,"

forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions that concern our expectations, strategy, plans or intentions. We have based these forward-looking statements largely on our current expectations and projections regarding future events and trends that we believe may affect our business, financial condition and results of operations. The outcome of the events described in these forward-looking you should not rely upon forward-looking statements as predictions of future events. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those projected in the forward-looking statements. Forward-looking statements contained in this Current Report on Form 8-K include, but are not limited to, the Company's expectation regarding its fourth quarter and fiscal year 2024 operating and financial results and the economic conditions in the markets in which the Company operates. The forward-looking statements made in this Current Report on Form 8-K relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you

View Full Filing

View this 8-K filing on SEC EDGAR