Lithia Motors Amends Shift Technologies Stake Filing

TL;DR

**Lithia Motors still holds a stake in Shift Technologies, filing an update on their passive investment.**

AI Summary

Lithia Motors Inc. filed an amended SC 13G/A on February 5, 2024, indicating its ownership of Class A Common Stock in Shift Technologies, Inc. as of December 31, 2023. This filing updates previous disclosures, confirming Lithia Motors' continued passive investment in Shift Technologies. For investors, this means a major player in the auto retail industry, Lithia Motors, still holds a stake in Shift Technologies, which could be seen as a vote of confidence or a strategic long-term position, even if passive.

Why It Matters

This filing confirms Lithia Motors' ongoing, passive investment in Shift Technologies, providing transparency on a significant shareholder's position in the online used car retailer.

Risk Assessment

Risk Level: low — This is an amendment to a passive investment filing, indicating no immediate change in strategy or significant new risk.

Analyst Insight

An investor should note that Lithia Motors Inc. maintains a passive stake in Shift Technologies, Inc., suggesting no immediate activist intentions but a continued interest in the company. This could be a data point for assessing long-term institutional confidence.

Key Players & Entities

• Lithia Motors Inc. (company) — the reporting person and investor
• Shift Technologies, Inc. (company) — the subject company whose securities are being reported
• Class A Common Stock (other) — the type of securities owned by Lithia Motors Inc.
• December 31, 2023 (date) — the date of the event requiring the filing
• February 5, 2024 (date) — the date the SC 13G/A was filed

FAQ

Filing Documents

• a2023q413g-shifttechnologi.htm (SC 13G/A) — 42KB
• 0001023128-24-000023.txt ( ) — 43KB

(a) Name of Issuer

Item 1. (a) Name of Issuer Shift Technologies, Inc. (b) Address of Issuer's Principal Executive Offices P.O. Box 1664, San Bruno, CA 94066

(a) Name of Person Filing

Item 2. (a) Name of Person Filing Lithia Motors, Inc. (b) Address of Principal Business Office or, if None, Residence 150 North Bartlett Street, Medford, OR (c) Citizenship Lithia Motors, Inc. is an Oregon corporation. (d) Title of Class of Securities Class Common A Stock (e) CUSIP Number 82452T107 Item 3. If This Statement is Filed Pursuant to 240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a (a) Broker or dealer registered under Section 15 of the Act. (b) Bank as defined in Section 3(a)(6) of the Act. (c) Insurance company as defined in Section 3(a)(19) of the Act. (d) Investment company registered under Section 8 of the Investment Company Act of 1940. (e) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E) (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F) (g) A parent holding company or control person in accordance with 240.13d-1(b)(l)(ii)(G) (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (j) A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J) (k) Group, in accordance with 240.13d-1(b)(l)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1(ii)(j), please specify the type of institution ________________ Not Applicable.

Ownership

Item 4. Ownership. (a) Amount beneficially owned None (b) Percent of class 0% (c) Number of shares as to which such person has (i) Sole power to vote or to direct the vote 0 (ii) Shared power to vote or to direct the vote 0 (iii) Sole power to dispose or to direct the disposition of 0 (iv) Shared power to dispose of or to direct the disposition of 0

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following .

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not Applicable.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not applicable.

Certifications

Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a11. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated February 5, 2024 LITHIA MOTORS, INC. By s Tina Miller Tina Miller Senior Vice President and Chief Financial Officer