Goodyear Tire & Rubber Files 8-K Material Agreement
Ticker: GT · Form: 8-K · Filed: Jul 22, 2024 · CIK: 42582
Sentiment: neutral
Topics: material-agreement, 8-K, regulation-fd
Related Tickers: GT
TL;DR
GT just signed a big deal, filing an 8-K. Details to come.
AI Summary
On July 22, 2024, The Goodyear Tire & Rubber Company (GT) filed an 8-K to report the entry into a material definitive agreement. The filing also includes financial statements and exhibits, and a Regulation FD disclosure. Specific details of the agreement were not immediately available in the provided text.
Why It Matters
This filing indicates a significant new contract or partnership for Goodyear, which could impact its future financial performance and market position.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, but the lack of specific details in this initial filing warrants a medium risk assessment.
Key Numbers
- 1-01927 — Commission File Number (Goodyear's SEC filing identifier)
- 34-0253240 — I.R.S. Employer Identification No. (Goodyear's tax identification number)
Key Players & Entities
- THE GOODYEAR TIRE & RUBBER COMPANY (company) — Registrant
- July 22, 2024 (date) — Date of earliest event reported
- Ohio (location) — State of incorporation
- Akron (location) — Principal executive offices city
- 44316-0001 (postal_code) — Principal executive offices zip code
- (330) 796-2121 (phone_number) — Registrant's telephone number
FAQ
What is the nature of the material definitive agreement entered into by Goodyear?
The provided text does not specify the details of the material definitive agreement, only that one was entered into on or before July 22, 2024.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on July 22, 2024.
What is Goodyear's principal executive office address?
Goodyear's principal executive offices are located at 200 Innovation Way, Akron, Ohio, 44316-0001.
What is the company's state of incorporation?
The company is incorporated in Ohio.
What is the SIC code for Goodyear's industry?
The Standard Industrial Classification (SIC) code for Goodyear is 3011, which corresponds to Tires and Inner Tubes.
Filing Stats: 2,298 words · 9 min read · ~8 pages · Grade level 18 · Accepted 2024-07-22 06:06:59
Key Financial Figures
- $905 million — nd liabilities, for a purchase price of $905 million in cash, subject to certain adjustments
- $47.5 million — ause to be paid to the Company a fee of $47.5 million if the Agreement is validly terminated
Filing Documents
- d874105d8k.htm (8-K) — 39KB
- d874105dex991.htm (EX-99.1) — 13KB
- g874105dsp001.jpg (GRAPHIC) — 3KB
- g874105dsp007a.jpg (GRAPHIC) — 33KB
- 0001193125-24-181902.txt ( ) — 229KB
- gt-20240722.xsd (EX-101.SCH) — 3KB
- gt-20240722_lab.xml (EX-101.LAB) — 17KB
- gt-20240722_pre.xml (EX-101.PRE) — 11KB
- d874105d8k_htm.xml (XML) — 3KB
Forward Looking Statements
Forward Looking Statements This report contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act. Such forward-looking statements include, but are not limited to, statements relating to the proposed Transaction, including statements regarding the benefits of the Transaction and the anticipated timing of the Transaction, and information regarding the businesses of the Company and Buyer. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to implement successfully the Goodyear Forward plan and our other strategic initiatives, including the Transaction; risks relating to the ability to consummate the Transaction on a timely basis or at all, including failure to obtain the required regulatory approvals or to satisfy the other conditions to the closing of the Transaction; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; inflationary cost pressures; delays or disruptions in our supply chain or the provision of services to us; a prolonged economic downturn or period of economic uncertainty; deteriorating economic conditions or an inability to access capital markets; a labor strike, work stoppage, labor shortage or other similar event; financial difficulties, work stoppages, labor shortages or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; changes in tariffs, trade agreements or trade restrictions; foreign currency translation and transaction risks; our failure to comply with a material covenant in our debt obligat
Financial Statements and Exhibits
Financial Statements and Exhibits. (d)Exhibits. Exhibit Description 99.1 News Release of The Goodyear Tire & Rubber Company, dated July 22, 2024. 104 Cover Page Interactive Data File (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. THE GOODYEAR TIRE & RUBBER COMPANY Date: July 22, 2024 By: /s/ Daniel T. Young Daniel T. Young Secretary