Universal Logistics Holdings Files 8-K

TL;DR

ULH filed an 8-K, but no juicy details yet.

AI Summary

Universal Logistics Holdings, Inc. filed an 8-K on March 29, 2024, to report other events and financial statements. The filing does not contain specific details about the nature of these events or financial figures within the provided text.

Why It Matters

This filing indicates Universal Logistics Holdings is making a regulatory disclosure, but the specific reasons and financial implications are not detailed in the provided excerpt.

Risk Assessment

Risk Level: low — The filing is a standard 8-K disclosure without immediate negative or positive financial implications presented.

Key Players & Entities

• UNIVERSAL LOGISTICS HOLDINGS, INC. (company) — Registrant
• 12755 E. Nine Mile Road (location) — Principal Executive Offices
• Warren, Michigan (location) — Principal Executive Offices
• 48089 (location) — Zip Code
• ( 586 ) 920-0100 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $2,418,806 — a monthly base amount of approximately $2,418,806 plus all taxes, assessments, utilities

Filing Documents

• ulh-20240329.htm (8-K) — 41KB
• 0000950170-24-038713.txt ( ) — 152KB
• ulh-20240329.xsd (EX-101.SCH) — 26KB
• ulh-20240329_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. Universal Development of Tennessee, LLC ("UDOT"), a wholly owned subsidiary of Universal Logistics Holdings, Inc. ("ULH" or the "Company"), has delivered to an escrow agent for Ford Motor Company ("Ford") a composite sublease agreement that UDOT expects to enter into with Ford. Under the sublease agreement, UDOT would lease from Ford certain land located in Stanton, Tennessee and construct an approximately 1,000,000 sq. ft. warehouse and distribution facility on the property for Ford as a part of a contract logistics program supporting Ford's production of its next generation electric truck. UDOT would develop the facility at its own cost in accordance with Ford's specifications and would be required to substantially complete its work by January 1, 2025. UDOT would then deliver possession of the facility to Ford, and Ford would make payments for the facility to UDOT over a term of 10 years. UDOT anticipates that Ford will pay a monthly base amount of approximately $2,418,806 plus all taxes, assessments, utilities and charges for the term. Ford would have the option to prepay in full the base amount that would otherwise be payable during the term and, if Ford exercises the prepayment option, Ford would also be required to pay UDOT any unpaid additional amounts that are due at the time of prepayment. ULH also expects to indemnify, defend, and hold Ford harmless from and against losses or damages incurred by Ford resulting from certain voluntary or involuntary events of bankruptcy, insolvency or reorganization of UDOT under an indemnity agreement delivered to Ford's escrow agent. ULH anticipates that the indemnity agreement will contain customary provisions regarding insurance, indemnification, waiver of subrogation, condemnation, destruction of premises, events of default and remedies. The release of the sublease agreement and indemnity agreement from escrow is conditioned on, among other things, Ford's receipt of all necessary government

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. 104 Cover Page Interactive Data File (formatted as Inline XBRL)

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. UNIVERSAL LOGISTICS HOLDINGS, INC. Date: March 29, 2024 By: /s/ Steven Fitzpatrick Steven Fitzpatrick Secretary

View Full Filing

View this 8-K filing on SEC EDGAR