Shyft Group's Chief Legal Officer to resign after merger; forfeits shares and retention award

SHYFT GROUP, INC.

Joshua Sherbin will resign for 'good reason' upon merger closing, receiving severance under the Executive Severance Plan.
Sherbin forfeits 90,167 restricted shares and $1.6M cash retention award, offset against severance payments.
If merger does not close by Dec 31, 2025 and no termination occurs, the Transition Agreement becomes null and void.
Agreement includes mutual non-disparagement, standard release of claims, and continued restrictive covenant compliance.
Company retains right to terminate Sherbin with or without Cause prior to closing under specified conditions.

item 5.02item 9.01

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Departed

Joshua Sherbin

Chief Legal, Administrative and Compliance Officer and Corporate Secretary

SHYFT GROUP, INC.

Filed: May 20, 2025 23:59 UTC

Mr. Joshua Sherbin, the Company’s Chief Legal, Administrative and Compliance Officer and Corporate Secretary, has informed Shyft’s board of directors and Aebi Schmidt that if the Merger is consummated, Mr. Sherbin intends to resign his employment for “good reason”

Source: SEC EDGAR

accession 0001437749-25-017850

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