TrueBlue adopts poison pill after HireQuest's $7.50/share unsolicited bid

TrueBlue, Inc.

HireQuest (HQI) made unsolicited proposal to acquire TrueBlue at $7.50 per share.
TrueBlue Board adopted limited-duration Rights Agreement expiring May 13, 2026.
Rights trigger at 15% beneficial ownership (20% for passive institutional holders).
Upon trigger, rights holders (excluding acquiring person) can buy TrueBlue shares at 50% discount.
Existing holders with ≥15% ownership before announcement are grandfathered; increases void that status.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

TrueBlue, Inc.: Filed Articles of Amendment designating 1,000,000 shares of Series A Junior Participating Preferred Stock and establishing rights, preferences, privileges and limitations (effective 2025-05-14).

Change: charter amendment
Effective: 2025-05-14

Exact text from the filing

the Board of Directors approved Articles of Amendment of the Amended and Restated Articles of Incorporation (the “Articles of Amendment”) for the Series A Preferred, which designate the rights, preferences, privileges and limitations of 1,000,000 shares of a series of the Company’s preferred stock, designated as the Series A Preferred.

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TrueBlue, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-25-018981

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