SCHEDULE 13D/A: Hyster-Yale Class B Ownership Updated: Rankin Family Maintains Dominant Stake
Ownership Disclosure Amendment
An Amendment No. 13 to Schedule 13D reveals updated beneficial ownership percentages and recent amendments to the governing partnership agreement for Hyster-Yale, Inc.'s Class B Common Stock, primarily held by members of the Rankin family.
Summary
- This filing is Amendment No. 13 to the Schedule 13D for Hyster-Yale, Inc., updating beneficial ownership information for Class B Common Stock.
- Alfred M. Rankin, Jr. beneficially owns 3,217,230 shares, representing approximately 93.1% of the Class B Common Stock outstanding as of March 12, 2025.
- Clara T. Rankin Williams beneficially owns 3,203,070 shares, representing approximately 92.7% of the Class B Common Stock outstanding as of March 12, 2025.
- Helen R. Butler beneficially owns 3,205,870 shares, representing approximately 92.8% of the Class B Common Stock outstanding as of March 12, 2025.
- David B. Williams beneficially owns 3,203,070 shares, representing approximately 92.7% of the Class B Common Stock outstanding as of March 12, 2025.
- The First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. was amended three times: on August 8, 2023, to allow abbreviated partner names; on June 13, 2024, to eliminate Class A-1 Limited Partnership Interests; and on March 12, 2025, to add an additional limited partner.
Sentiment
Score: 5
Explanation: The document is a routine amendment to a Schedule 13D, primarily updating beneficial ownership percentages and minor changes to a related partnership agreement. It does not contain information that would typically be interpreted as positive or negative for the company's operational or financial performance.
Risks
- The highly concentrated ownership of Class B Common Stock by a small group of individuals and trusts, primarily within the Rankin family, could lead to limited liquidity for these shares and significant control over corporate decisions, potentially impacting minority shareholders.
Future Outlook
NA
Industry Context
This filing pertains to the ownership structure of Hyster-Yale, Inc.'s Class B Common Stock and does not provide information directly related to broader industry trends or competitive landscape within the material handling or lift truck manufacturing sectors. It primarily reflects internal family and trust arrangements regarding shareholdings.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Trustee | NA | Clara T. Rankin Williams | NA | Clara T. Rankin Williams is now identified as the trustee for HRB 2020 GST Trust for Clara R. Butler and HRB 2020 GST Trust for Griffin B. Butler, replacing previous statements in prior filings. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Partnership Agreement Amendment | The First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. was amended to allow the use of abbreviated names of partners for record keeping purposes. | 2023-08-08 | This change is administrative, simplifying record-keeping for the partnership that holds a significant portion of the Class B shares. |
| Partnership Agreement Amendment | The First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. was amended to eliminate the Class A-1 Limited Partnership Interests. | 2024-06-13 | This change simplifies the capital structure of the partnership, potentially streamlining future transactions or distributions within the partnership. |
| Partnership Agreement Amendment | The First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. was amended to add an additional limited partner. | 2025-03-12 | This change indicates an expansion of the partnership's participant base, which could be related to estate planning or wealth transfer within the controlling family. |
Related Party Transactions
- The amendments to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. are related party transactions as the partnership is controlled by the Rankin family, who are also the primary beneficial owners of Hyster-Yale's Class B Common Stock.
Stakeholder Impact
- Shareholders: The filing confirms the continued highly concentrated ownership of Class B Common Stock, which grants significant control to the Rankin family over Hyster-Yale, Inc. This concentration may limit the influence of other shareholders on corporate decisions and could affect the liquidity of Class B shares.
- Employees, Customers, Suppliers, Creditors: No direct impact is indicated by this ownership disclosure filing.
Key Dates
| Date | Description |
|---|---|
| 2012-10-09 | Initial Filing of Schedule 13D by the Reporting Persons. |
| 2013-02-14 | Amendment No. 1 to Schedule 13D filed. |
| 2014-02-13 | Amendment No. 2 to Schedule 13D filed. |
| 2015-02-17 | Amendment No. 3 to Schedule 13D filed. |
| 2016-02-16 | Amendment No. 4 to Schedule 13D filed. |
| 2017-02-14 | Amendment No. 5 to Schedule 13D filed. |
| 2018-02-14 | Amendment No. 6 to Schedule 13D filed. |
| 2019-02-14 | Amendment No. 7 to Schedule 13D filed. |
| 2020-02-13 | Amendment No. 8 to Schedule 13D filed. |
| 2021-02-12 | Amendment No. 9 to Schedule 13D filed. |
| 2022-02-14 | Amendment No. 10 to Schedule 13D filed. |
| 2023-02-14 | Amendment No. 11 to Schedule 13D filed. |
| 2023-08-08 | Second Amendment to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. became effective, allowing abbreviated names of partners for record keeping. |
| 2024-02-13 | Amendment No. 12 to Schedule 13D filed. |
| 2024-06-13 | Third Amendment to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. became effective, eliminating Class A-1 Limited Partnership Interests. |
| 2025-03-12 | Date of event requiring this filing; Fourth Amendment to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. became effective, adding an additional limited partner. |
| 2025-03-14 | Signature date of this Amendment No. 13 to Schedule 13D. |
Keywords
Hyster-Yale, Class B Common Stock, Beneficial Ownership, Schedule 13D, SEC Filing, Rankin Family, Corporate Governance, Partnership Agreement, Ownership Structure
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