Joshua A. Sherbin - Dec 31, 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 31, 2024
Transactions value $
$1,372,312
Form type
4
Date filed
1/2/2025, 05:44 PM
Previous filing
Dec 20, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SHYF Common Stock Award $314K +26.7K +53.5% $11.74 76.7K Dec 31, 2024 Direct F1
transaction SHYF Common Stock Award $243K +20.7K +26.95% $11.74 97.3K Dec 31, 2024 Direct F2
transaction SHYF Common Stock Tax liability -$243K -20.7K -21.23% $11.74 76.7K Dec 31, 2024 Direct F2
transaction SHYF Common Stock Award $1.06M +90.2K +117.59% $11.74 167K Dec 31, 2024 Direct F3
transaction SHYF Common Stock Award $818K +69.7K +41.78% $11.74 237K Dec 31, 2024 Direct F4
transaction SHYF Common Stock Tax liability -$818K -69.7K -29.47% $11.74 167K Dec 31, 2024 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects restricted shares granted to the reporting person in lieu of a grant of restricted stock units that would otherwise be granted in March 2025. Such restricted shares are to vest in equal annual installments on each of the first three anniversaries of March 31, 2025.
F2 Reflects shares granted to the reporting person in lieu of a grant of restricted stock units that would otherwise be granted in March 2025. Such shares are fully vested and have been withheld for the purpose of paying applicable taxes in connection with the reporting person's recognition of income in connection with the receipt of shares reflected on this Form 4, including by reason of filing an election under Section 83(b) of the Internal Revenue Code of 1986.
F3 Reflects restricted shares granted to the reporting person that will vest in three equal annual installments on each of the first three anniversaries of 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.
F4 Reflects shares granted to the executive that are fully vested and have been withheld for the purpose of paying applicable taxes in connection with the reporting person's recognition of income in connection with the receipt of shares reflected on this Form 4, including by reason of filing an election under Section 83(b) of the Internal Revenue Code of 1986.