SCHEDULE 13D/A: Rankin Family Group Updates Significant Stake in Hyster-Yale, Inc. Class B Common Stock
Beneficial Ownership Update
An amendment to Schedule 13D reveals updated beneficial ownership percentages and changes in trust and partnership agreements for the Rankin family group, maintaining their substantial control over Hyster-Yale, Inc.'s Class B Common Stock.
Summary
- This Amendment No. 3 to Schedule 13D updates and supplements information regarding the beneficial ownership of Class B Common Stock of Hyster-Yale, Inc. by the Rankin family group.
- The filing reflects the acquisition and/or disposition of shares by certain reporting persons and updates their background information.
- As of March 12, 2025, Alfred M. Rankin, Jr. and Victoire G. Rankin beneficially own approximately 93.1% of the Class B Common Stock outstanding, totaling 3,217,230 shares.
- Helen R. Butler and John C. Butler, Jr. collectively beneficially own approximately 92.8% of the Class B Common Stock, amounting to 3,205,870 shares.
- Clara T. Rankin Williams and David B. Williams collectively beneficially own approximately 92.7% of the Class B Common Stock, totaling 3,203,070 shares.
- The filing details changes in the names of several GST trusts from '2012 GST Trust' to '2020 GST Trust' and updates trustee information, including addresses and occupations.
- Amendments to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. were made on August 8, 2023 (allowing abbreviated partner names), June 13, 2024 (eliminating Class A-1 Limited Partnership Interests), and March 12, 2025 (adding an additional limited partner).
Sentiment
Score: 5
Explanation: The document is neutral in sentiment, serving as a factual update on beneficial ownership and related legal agreements without indicating positive or negative operational or financial developments for the company.
Positives
- The filing provides increased transparency regarding the beneficial ownership structure of Hyster-Yale, Inc.'s Class B Common Stock.
- The consistent high percentage of ownership by the Rankin family group indicates stable, long-term control and alignment of interests.
Future Outlook
The document does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction, focusing solely on beneficial ownership updates.
Industry Context
This filing is a routine ownership disclosure and does not provide specific insights into broader industry trends or competitive landscape for Hyster-Yale, Inc. It primarily concerns the internal structure and control of a significant shareholder group.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Trustee | Not specified, but implied by '2012 GST Trust' names | Clara T. Rankin Williams | Not specified, but implied by '2020 GST Trust' names | Update to reflect current trustee and trust naming conventions (e.g., 2012 to 2020 GST Trusts). |
| Trustee | Not specified, but implied by '2012 GST Trust' names | Helen R. Butler | Not specified, but implied by '2020 GST Trust' names | Update to reflect current trustee and trust naming conventions (e.g., 2012 to 2020 GST Trusts). |
| Trustee | Not specified, but implied by '2012 GST Trust' names | Thomas T. Rankin | Not specified, but implied by '2020 GST Trust' names | Update to reflect current trustee and trust naming conventions (e.g., 2012 to 2020 GST Trusts). |
| Trustee | Not specified, but implied by '2012 GST Trust' names | Claiborne R. Rankin | Not specified, but implied by '2020 GST Trust' names | Update to reflect current trustee and trust naming conventions (e.g., 2012 to 2020 GST Trusts). |
| Trustee | Not specified, but implied by '2012 GST Trust' names | Roger F. Rankin | Not specified, but implied by '2020 GST Trust' names | Update to reflect current trustee and trust naming conventions (e.g., 2012 to 2020 GST Trusts). |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Amendment to Limited Partnership Agreement | Second Amendment to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P., allowing the use of abbreviated names of the partners for record keeping purposes. | 2023-08-08 | Simplifies record-keeping for the limited partnership that holds a significant stake in Hyster-Yale, Inc. |
| Amendment to Limited Partnership Agreement | Third Amendment to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P., eliminating the Class A-1 Limited Partnership Interests. | 2024-06-13 | Streamlines the capital structure of the limited partnership, potentially simplifying future transactions or distributions within the group. |
| Amendment to Limited Partnership Agreement | Fourth Amendment to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P., adding an additional limited partner. | 2025-03-12 | Expands the partnership, potentially indicating a broader distribution of ownership or involvement within the Rankin family group. |
Related Party Transactions
- The document details the beneficial ownership and control relationships among various members of the Rankin family and associated trusts (e.g., BTR 2020 GST Trusts) and the AMR Associates, L.P., which collectively hold a significant stake in Hyster-Yale, Inc. These entities and individuals are considered related parties due to their familial and ownership ties.
Stakeholder Impact
- Shareholders: The filing confirms the continued strong, concentrated control of Hyster-Yale, Inc.'s Class B Common Stock by the Rankin family group, providing clarity on the company's ownership stability.
- Management: The consistent ownership structure suggests stable oversight from the controlling shareholder group.
Key Dates
| Date | Description |
|---|---|
| 2022-02-14 | Date of the Initial Schedule 13D Filing. |
| 2023-02-14 | Date of Amendment No. 1 to the Schedule 13D. |
| 2023-08-08 | Effective date of the Second Amendment to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P., allowing abbreviated names of partners. |
| 2024-02-13 | Date of Amendment No. 2 to the Schedule 13D. |
| 2024-06-13 | Effective date of the Third Amendment to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P., eliminating Class A-1 Limited Partnership Interests. |
| 2025-03-12 | Date of event requiring the filing of this statement; also the effective date of the Fourth Amendment to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P., adding an additional limited partner. |
| 2025-03-14 | Signature date of the Schedule 13D Amendment No. 3. |
Keywords
Hyster-Yale Inc., Class B Common Stock, Schedule 13D, Beneficial Ownership, SEC Filing, Rankin Family, Corporate Governance, Shareholder Disclosure, Trusts, Limited Partnership Agreement
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