---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-017080"
form_type: "8-K"
ticker: null
cik: "0000743238"
company_name: "SHYFT GROUP, INC."
filed_at: "2023-06-12T23:59:59+00:00"
generated_at: "2026-06-14T03:21:31.283825+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Shyft Group announces CEO succession; Daryl Adams to transition to advisor role after successor appointed

## Summary
- CEO Daryl Adams to step down once successor is appointed; will serve as advisor for 6 months.
- Adams to receive 18 months base salary continuation, pro-rata target bonus, accelerated equity vesting, and other benefits.
- Transition agreement signed June 9, 2023; Adams will resign from Board upon successor joining.
- Board initiates CEO search with leading executive search firm.

## SEC filing metadata
- accession: 0001437749-23-017080
- form_type: 8-K
- cik: 0000743238
- company_name: SHYFT GROUP, INC.
- filed_at: 2023-06-12T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/743238/000143774923017080/0001437749-23-017080-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/743238/000143774923017080/shyf20230609_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-017080
- JSON: https://secwatch.observer/filing/0001437749-23-017080.json
- Plain text: https://secwatch.observer/filing/0001437749-23-017080.txt

## Key facts
- Executive change
  Daryl M. Adams departed as President and Chief Executive Officer at SHYFT GROUP, INC..
  - Action: will resign
  - Role: President and Chief Executive Officer
  source text: Mr. Adams is expected to continue to serve as CEO until his successor joins the Company, at which time Mr. Adams will resign from the Company’s Board of Directors and will transition to non-executive employment with the Company as a special advisor to assist the CEO successor with transition matters for six months.
  evidence_url: https://www.sec.gov/Archives/edgar/data/743238/000143774923017080/0001437749-23-017080-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.