RumbleOn Announces 2024 Annual Meeting of Shareholders on June 4
Ticker: RDNW · Form: DEF 14A · Filed: Apr 24, 2024 · CIK: 1596961
| Field | Detail |
|---|---|
| Company | Rumbleon, Inc. (RDNW) |
| Form Type | DEF 14A |
| Filed Date | Apr 24, 2024 |
| Risk Level | |
| Pages | 14 |
| Reading Time | 17 min |
| Key Dollar Amounts | $1.7, $150, $90 |
| Sentiment | bullish |
Sentiment: bullish
Topics: Annual Meeting, Vision 2026, Revenue Growth, EBITDA, Shareholder Value
TL;DR
<b>RumbleOn invites shareholders to its 2024 Annual Meeting on June 4 and outlines 'Vision 2026' growth targets.</b>
AI Summary
RumbleOn, Inc. (RDNW) filed a Proxy Statement (DEF 14A) with the SEC on April 24, 2024. RumbleOn will hold its 2024 Annual Meeting of Shareholders virtually on June 4, 2024, at 8:00 a.m. Central Time. The company introduced 'Vision 2026', a three-year operating plan focused on maximizing long-term per share value. Vision 2026 targets include annual revenue exceeding $1.7 billion by calendar year 2026. Annual Adjusted EBITDA is projected to be greater than $150 million by 2026. Annual Adjusted Free Cash Flow is expected to be $90 million or more by 2026, with a target leverage ratio of 1.5x-2.5x net debt/EBITDA.
Why It Matters
For investors and stakeholders tracking RumbleOn, Inc., this filing contains several important signals. The annual meeting is a key event for shareholders to receive updates and vote on important company matters. The 'Vision 2026' plan provides specific financial targets, indicating management's strategic direction and growth expectations.
Risk Assessment
Risk Level: — RumbleOn, Inc. shows moderate risk based on this filing. The company's ambitious 'Vision 2026' targets, such as $1.7 billion in revenue and $150 million in Adjusted EBITDA, carry inherent execution risk and depend on favorable market conditions.
Analyst Insight
Shareholders should attend the virtual meeting to understand the strategic initiatives behind the 'Vision 2026' targets and vote on proposals.
Key Numbers
- 2024-06-04 — Annual Meeting Date (2024 Annual Meeting of Shareholders)
- 2026 — Vision Year (Vision 2026 plan targets)
- 1.7 — Target Revenue (Billions) (Annual revenue in excess of $1.7 billion by 2026)
- 150 — Target Adjusted EBITDA (Millions) (Annual Adjusted EBITDA of greater than $150 million by 2026)
- 90 — Target Adjusted Free Cash Flow (Millions) (Annual Adjusted Free Cash Flow of $90 million or more by 2026)
- 1.5x-2.5x — Target Leverage Ratio (Target leverage ratio of 1.5x - 2.5x net debt/EBITDA)
Key Players & Entities
- RumbleOn, Inc. (company) — Registrant
- June 4, 2024 (date) — Annual Meeting date
- $1.7 billion (dollar_amount) — Target annual revenue by 2026
- $150 million (dollar_amount) — Target annual Adjusted EBITDA by 2026
- $90 million (dollar_amount) — Target annual Adjusted Free Cash Flow by 2026
FAQ
When did RumbleOn, Inc. file this DEF 14A?
RumbleOn, Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 24, 2024.
What is a DEF 14A filing?
A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by RumbleOn, Inc. (RDNW).
Where can I read the original DEF 14A filing from RumbleOn, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by RumbleOn, Inc..
What are the key takeaways from RumbleOn, Inc.'s DEF 14A?
RumbleOn, Inc. filed this DEF 14A on April 24, 2024. Key takeaways: RumbleOn will hold its 2024 Annual Meeting of Shareholders virtually on June 4, 2024, at 8:00 a.m. Central Time.. The company introduced 'Vision 2026', a three-year operating plan focused on maximizing long-term per share value.. Vision 2026 targets include annual revenue exceeding $1.7 billion by calendar year 2026..
Is RumbleOn, Inc. a risky investment based on this filing?
Based on this DEF 14A, RumbleOn, Inc. presents a moderate-risk profile. The company's ambitious 'Vision 2026' targets, such as $1.7 billion in revenue and $150 million in Adjusted EBITDA, carry inherent execution risk and depend on favorable market conditions.
What should investors do after reading RumbleOn, Inc.'s DEF 14A?
Shareholders should attend the virtual meeting to understand the strategic initiatives behind the 'Vision 2026' targets and vote on proposals. The overall sentiment from this filing is bullish.
Key Dates
- 2024-06-04: 2024 Annual Meeting of Shareholders — Shareholders will attend virtually to vote on proposals and receive company updates.
- 2026-12-31: Vision 2026 Target Year End — Key financial targets for revenue, EBITDA, and free cash flow are expected to be achieved by this year.
Glossary
- Adjusted EBITDA
- Earnings Before Interest, Taxes, Depreciation, and Amortization, adjusted for certain items. (Key performance indicator for profitability and operational efficiency.)
- Adjusted Free Cash Flow
- Cash flow from operations adjusted for certain items, representing cash available after capital expenditures. (Measures the company's ability to generate cash to fund operations, investments, and debt repayment.)
Filing Stats: 4,330 words · 17 min read · ~14 pages · Grade level 13 · Accepted 2024-04-24 07:17:21
Key Financial Figures
- $1.7 — a0;  Annual revenue in excess of $1.7 billion; •  �
- $150 — nnual Adjusted EBITDA 2 of greater than $150 million; and •  &
- $90 — a0; Annual Adjusted Free Cash Flow 3 of $90 million or more 4 . We expect t
Filing Documents
- ea0203856-01.htm (DEF 14A) — 1216KB
- trumb_logo.jpg (GRAPHIC) — 27KB
- tmichaelkennedy_sig.jpg (GRAPHIC) — 22KB
- tsteven_sig.jpg (GRAPHIC) — 17KB
- tbarchart_001.jpg (GRAPHIC) — 375KB
- tbarchart_002.jpg (GRAPHIC) — 391KB
- tproxy_001.jpg (GRAPHIC) — 954KB
- tproxy_002.jpg (GRAPHIC) — 914KB
- 0001213900-24-035537.txt ( ) — 4939KB
EXECUTIVE COMPENSATION
EXECUTIVE COMPENSATION   12 PAY VERSUS PERFORMANCE   18 EXECUTIVE OFFICERS   21
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT   22 PROPOSAL 2: SAY ON PAY PROPOSAL   24 REPORT OF THE AUDIT COMMITTEE   25 PROPOSAL 3: AUDITOR PROPOSAL   26 POLICY FOR APPROVAL OF AUDIT AND PERMITTED NON-AUDIT SERVICES   28 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS   29 OTHER MATTERS   32 This Proxy Statement and the accompanying proxy materials (including the letter to shareholders and notice of annual meeting) may contain “forward -looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995, which statements may be identified by words such as “expects,” “plans”, “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Readers are cautioned not to place undue reliance on these forward -looking statements, which are based on our expectations as of the date of this Proxy Statement and speak only as of such date. Shareholders are advised to consider the factors listed under the heading “Forward -Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 1 0 -K and other filings made with the Securities and Exchange Commission, as such statements may be updated and amended from time to time , which factors may cause actual future events to differ materially from our expectations as of the date of this Proxy Statement . We undertake no obligation to publicly update or revise any forward -looking statements, whether as a result of new information, future events, or otherwise, except as required by law. i Table of Contents PROXY STATEMENT This Proxy Statement contains information relating to the solicitation of proxies by the Bo