Jacob O. Farmer - Dec 18, 2024 Form 4 Insider Report for SHYFT GROUP, INC. (SHYF)

Role: President, Fleet Vehicles
Signature: /s/ Joshua A. Sherbin as Attorney In Fact for Jacob O. Farmer
Stock symbol: SHYF
Transactions as of: Dec 18, 2024
Transactions value $: -$97,298
Form type: 4
Date filed: 12/20/2024, 05:46 PM
Previous filing: Aug 2, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SHYF	Common Stock	Tax liability	-$97.3K	-7.9K	-14.92%	$12.31	45.1K	Dec 18, 2024	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares were withheld by The Shyft Group, Inc. to satisfy tax withholding obligations incident upon the vesting of previously granted restricted stock units ("RSUs"). These RSUs were otherwise scheduled to vest in February 2025, March 2025, and July 2025 but vesting was accelerated for the purpose of reducing or eliminating the excise tax under Section 280G and Section 4999 of the Internal Revenue Code of 1986 that would be imposed on amounts payable to the reporting person in connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated December 16, 2024, by and among The Shyft Group, Inc., Aebi Schmidt Holding AG ("Aebi Schmidt"), ASH US Group, LLC, a direct, wholly owned subsidiary of Aebi Schmidt, and Badger Merger Sub, Inc.

Content

These shares were withheld by The Shyft Group, Inc. to satisfy tax withholding obligations incident upon the vesting of previously granted restricted stock units ("RSUs"). These RSUs were otherwise scheduled to vest in February 2025, March 2025, and July 2025 but vesting was accelerated for the purpose of reducing or eliminating the excise tax under Section 280G and Section 4999 of the Internal Revenue Code of 1986 that would be imposed on amounts payable to the reporting person in connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated December 16, 2024, by and among The Shyft Group, Inc., Aebi Schmidt Holding AG ("Aebi Schmidt"), ASH US Group, LLC, a direct, wholly owned subsidiary of Aebi Schmidt, and Badger Merger Sub, Inc.