{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-027662","form_type":"8-K","ticker":"KNF","cik":"0001955520","company_name":"Knife River Corp","filed_at":"2023-06-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.619031+00:00","generated_at":"2026-06-14T09:48:01.936845+00:00","sec_items":["1.01","2.03","3.03","5.05","5.01","5.02","5.03","7.01","8.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Knife River completes spin-off from MDU Resources, begins trading as independent public company","bullets":["Spin-off completed May 31, 2023: MDU distributed ~90% of KNF common stock to MDU shareholders; MDU retains ~10%.","KNF begins regular-way trading on NYSE under ticker \"KNF\" as independent public company.","Entered $350M revolving credit facility and $275M term loan; both mature May 31, 2028.","Board expanded to six, with four new directors (Fagg, Carmona Alvarez, Everist, Sandbrook); prior directors resigned.","Adopted new compensation plans, amended charter/bylaws; name changed to Knife River Corporation."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-027662","json":"https://secwatch.observer/filing/0001140361-23-027662.json","markdown":"https://secwatch.observer/filing/0001140361-23-027662.md","text":"https://secwatch.observer/filing/0001140361-23-027662.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1955520/000114036123027662/0001140361-23-027662-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1955520/000114036123027662/ny20009261x1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T09:48:01.936845+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1455f687cd279bcce2b6962f2ac2ddba9dde09b5","claim":"Knife River Corp incurred revolving credit of up to $350.0 million with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the other financial institutions from time to time party thereto at adjusted term SOFR, defined in a customary manner (\"Term SOFR\") plus an applicab maturing May 31, 2028.","evidence_excerpt":"subject to a number of exceptions. The Credit Agreement provides for (a) a senior secured first lien revolving credit facility in an initial aggregate principal amount of up to $350.0 million (the “Revolving Credit Facility”) and (b) a senior secured first lien term loan facility in an initial aggregate principal amount of up to $275.0 million (the “Term Loan","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1955520/000114036123027662/0001140361-23-027662-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"up to $350.0 million"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the other financial institutions from time to time party thereto"},{"label":"Rate","value":"adjusted term SOFR, defined in a customary manner (\"Term SOFR\") plus an applicab"},{"label":"Maturity","value":"May 31, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"14f9f16567ab2aac3667f962f282759b64ef1c30","claim":"Knife River Corp incurred term loan of up to $275.0 million with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the other financial institutions from time to time party thereto at adjusted term SOFR, defined in a customary manner (\"Term SOFR\") plus an applicab maturing May 31, 2028.","evidence_excerpt":"amount of up to $350.0 million (the “Revolving Credit Facility”) and (b) a senior secured first lien term loan facility in an initial aggregate principal amount of up to $275.0 million (the “Term Loan Facility,” and together with the Revolving Credit Facility the “Senior Secured Credit Facilities”). Letters of credit are available under the Credit Agreement","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1955520/000114036123027662/0001140361-23-027662-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"up to $275.0 million"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the other financial institutions from time to time party thereto"},{"label":"Rate","value":"adjusted term SOFR, defined in a customary manner (\"Term SOFR\") plus an applicab"},{"label":"Maturity","value":"May 31, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"036580974e","claim":"Karl A. Liepitz was appointed as Vice President, Chief Legal Officer and Secretary at Knife River Corp.","evidence_excerpt":"Karl A. 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Hastings was appointed as Vice President and Chief Operating Officer at Knife River Corp.","evidence_excerpt":"Trevor J. Hastings Vice President and Chief Operating Officer","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1955520/000114036123027662/0001140361-23-027662-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"became"},{"label":"Role","value":"Vice President and Chief Operating Officer"}],"fact_type":"executive_change"},{"claim_id":"1e8af9106f","claim":"Marney L. Kadrmas was appointed as Chief Accounting Officer at Knife River Corp.","evidence_excerpt":"Marney L. 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(closed 2023-05-31).","evidence_excerpt":"Distribution Agreement”) with MDU Resources Group, Inc. (“MDU Resources”), pursuant to which MDU Resources agreed to transfer its wholly owned subsidiary KRC Materials, Inc.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1955520/000114036123027662/0001140361-23-027662-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"MDU Resources Group, Inc."},{"label":"Closing","value":"2023-05-31"}],"fact_type":"ma_transaction"},{"claim_id":"26b7cf9ecd385e8189225674c5adde8f2f5dbf68","claim":"Knife River Corp entered into Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the other financial institutions from time to time party thereto (effective 2023-05-31).","evidence_excerpt":"On May 31, 2023 (the “Closing Date”), the Company entered into a new credit agreement (the “Credit Agreement”), as borrower, together with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the other financial institutions from time to time party thereto.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1955520/000114036123027662/0001140361-23-027662-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the other financial institutions from time to time party thereto"},{"label":"Effective","value":"2023-05-31"}],"fact_type":"material_agreement"},{"claim_id":"dc7649881fedbdbe8eac1cddf95235b632ab0605","claim":"Knife River Corp entered into Separation and Distribution Agreement with MDU Resources Group, Inc. 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