UTI repurchases $10.78M Series A preferred, converts all shares; appoints Chris Shackelton director

UNIVERSAL TECHNICAL INSTITUTE INC

Repurchased 33,300 Series A Preferred shares from Coliseum affiliates for $10.78M in cash.
Converted all outstanding Series A Preferred into Common Stock, increasing shares outstanding by 19.3M effective Dec 18, 2023.
Chris Shackelton, Coliseum co-founder, appointed as Class III director as part of the transaction.
Purchase price based on Dec 18 VWAP; adjustment possible if VWAP Dec 19-22 exceeds initial VWAP up to $13.00.
Pricing committee of independent directors approved the repurchase; funded with cash on hand.

item 5.02 item 8.01 item 9.01

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Appointed

Christopher Shackelton

Class III director

UTI · UNIVERSAL TECHNICAL INSTITUTE INC

Filed: December 19, 2023, 6:59 PM ET

the Board appointed Mr. Shackelton as a Class III director of the Board

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Christopher Shackelton was appointed as Class III director at UNIVERSAL TECHNICAL INSTITUTE INC.

Action: appointed
Role: Class III director

Exact text from the filing

the Board appointed Mr. Shackelton as a Class III director of the Board

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Source: SEC EDGAR

accession 0001261654-23-000149

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