SCHEDULE 13D/A: Hyster-Yale Inc. Class B Stock: Rankin Family Group Maintains Over 92% Beneficial Ownership

An Amendment No. 12 to Schedule 13D filing reveals that the Rankin family group continues to beneficially own over 92% of Hyster-Yale, Inc.'s Class B Common Stock as of March 12, 2025, with minor updates to individual holdings and underlying partnership agreements.

Summary

• This document is Amendment No. 12 to the Schedule 13D filing for Hyster-Yale, Inc.'s Class B Common Stock, updating beneficial ownership information.
• As of March 12, 2025, Alfred M. Rankin, Jr. beneficially owns 3,217,230 shares, representing approximately 93.1% of the Class B Common Stock outstanding.
• Clara T. Rankin Williams beneficially owns 3,203,070 shares, constituting approximately 92.7% of the Class B Common Stock outstanding.
• Helen R. Butler beneficially owns 3,205,870 shares, representing approximately 92.8% of the Class B Common Stock outstanding.
• John C. Butler, Jr. beneficially owns 3,205,870 shares, representing approximately 92.8% of the Class B Common Stock outstanding.
• David B. Williams beneficially owns 3,203,070 shares, constituting approximately 92.7% of the Class B Common Stock outstanding.
• The filing updates information regarding certain reporting persons and reflects the acquisition and/or disposition of Class B Common shares by these persons.
• Amendments were made to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. on August 8, 2023, June 13, 2024, and March 12, 2025.

Sentiment

Score: 5

Explanation: The document is a factual update on beneficial ownership and partnership agreements, containing no explicit positive or negative financial implications or forward-looking statements that would alter sentiment.

Future Outlook

NA

Industry Context

This filing is a routine update to beneficial ownership information for a company with a dual-class share structure, where a founding family or group maintains significant control through a class of shares with superior voting rights. Such structures are common in family-controlled businesses, allowing long-term strategic vision to be maintained.

Corporate Governance

Related Party Transactions

• Amendments to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. on August 8, 2023, June 13, 2024, and March 12, 2025, which govern the holdings of the Rankin family group, can be considered related party dealings as they affect the structure through which the primary beneficial owners hold their interests.

Stakeholder Impact

• Shareholders: The continued high concentration of Class B Common Stock ownership (over 92%) by the Rankin family group ensures their significant control over Hyster-Yale, Inc., particularly concerning matters requiring Class B shareholder approval. This reinforces the existing governance structure where the family maintains strong influence.

Key Dates

Keywords

Hyster-Yale Inc., Class B Common Stock, Schedule 13D, Beneficial Ownership, Rankin Family, Corporate Governance, SEC Filing, Ownership Update, AMR Associates L.P.