Joshua A. Sherbin - Dec 18, 2024 Form 4 Insider Report for SHYFT GROUP, INC. (SHYF)

Role: Chief Administration Officer
Signature: /s/ Joshua A. Sherbin
Stock symbol: SHYF
Transactions as of: Dec 18, 2024
Transactions value $: -$122,485
Form type: 4
Date filed: 12/20/2024, 05:51 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	-$122K	-9.95K	-16.61%	$12.31	50K	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 March 2025, June 2025, and August 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 March 2025, June 2025, and August 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.