secwatch.observer — SEC 8-K summary
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Issuer:     MARTEN TRANSPORT LTD (MRTN)
CIK:        0000799167
Form:       8-K
Filed at:   2022-03-02T23:59:59+00:00
Accession:  0001437749-22-005010
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marten Transport amends credit agreement: waives dividend/redemption limit to $80M in FY2022, switches to SOFR
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- Twelfth Amendment waives 25% net-income limit on buybacks/dividends, allows up to $80M in FY2022.
- Benchmark rate converted from LIBOR to term SOFR; margins increase and are tied to cash flow leverage ratio.
- Two-month interest periods eliminated; benchmark replacement mechanism added if SOFR unavailable.
- Prior amendments allowed $60M (FY2020) and $80M (FY2021) for restricted payments; extended to FY2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799167/000143774922005010/0001437749-22-005010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799167/000143774922005010/mrtn20220301_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-005010

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