SCHEDULE 13D/A: Rankin Family Updates Significant Beneficial Ownership in Hyster-Yale Class B Stock
Beneficial Ownership Update
An amendment to Schedule 13D reveals updated beneficial ownership percentages and changes to the governing partnership agreement for key shareholders of Hyster-Yale, Inc.'s Class B Common Stock.
Summary
- This Amendment No. 3 updates and supplements information regarding the beneficial ownership of Class B Common Stock of Hyster-Yale, Inc. by several reporting persons, primarily members of the Rankin family and related trusts.
- 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.
- Victoire G. Rankin also beneficially owns 3,217,230 shares, constituting approximately 93.1% of the Class B Common Stock outstanding.
- Helen R. Butler and John C. Butler, Jr. each beneficially own 3,205,870 shares, representing approximately 92.8% of the Class B Common Stock outstanding.
- Clara T. Rankin Williams and David B. Williams each beneficially own 3,203,070 shares, representing approximately 92.7% of the Class B Common Stock outstanding.
- The filing updates the resident address and professional role for Clara T. Rankin Williams, noting her as Chief Executive Officer of the Clara Williams Company and trustee for several GST Trusts.
- The First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. has been 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 sentiment is neutral as this is a factual, compliance-driven filing updating beneficial ownership and related internal agreements, without commentary on company performance or outlook.
Future Outlook
The document does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.
Industry Context
This filing is a routine update on beneficial ownership and related agreements, specific to the internal governance of a major shareholder group. It does not provide information relevant to broader industry trends or competitive dynamics within the material handling or industrial equipment sectors where Hyster-Yale operates.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Trustee | NA | Clara T. Rankin Williams | NA | Clarification/reiteration of role for 2012 Clara R. Williams GST Trust, HRB 2020 GST Trust for Clara R. Butler, and HRB 2020 GST Trust for Griffin B. Butler. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Amendment to Limited Partnership Agreement | The First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. was amended to allow the use of abbreviated names of the partners for record keeping purposes. | 2023-08-08 | Minor administrative change, simplifying record keeping for the partnership. |
| Amendment to Limited Partnership Agreement | 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 | Simplifies the capital structure of the partnership by removing a class of interests. |
| Amendment to Limited Partnership Agreement | The First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. was amended to add an additional limited partner. | 2025-03-12 | Expands the partnership by including a new limited partner, potentially broadening the ownership base within the controlling group. |
Related Party Transactions
- The amendments to the First Amended and Restated Limited Partnership Agreement of AMR Associates, L.P. involve changes to an agreement among related parties (the Rankin family and associated trusts) concerning their collective beneficial ownership in Hyster-Yale, Inc.
Stakeholder Impact
- Shareholders: The filing provides updated transparency on the significant beneficial ownership structure of the Class B Common Stock, which is primarily held by a concentrated group of individuals and trusts. This reinforces the existing control structure.
Key Dates
| Date | Description |
|---|---|
| 2022-02-14 | Date of the Initial Schedule 13D Filing by the Reporting Persons. |
| 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 partner names. |
| 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 this Schedule 13D filing; 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, and the date as of which beneficial ownership percentages are calculated. |
| 2025-03-14 | Date of signing for this Amendment No. 3 to Schedule 13D. |
Keywords
Hyster-Yale, Class B Common Stock, Beneficial Ownership, Schedule 13D, SEC Filing, Shareholder, Corporate Governance, Limited Partnership Agreement, Rankin Family
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