Wed, Aug 14, 8:52 PM (153 days ago)
On August 14, 2024, Proficient Auto Logistics, Inc. announced the retirement of Randy Beggs as President and Chief Operating Officer, effective immediately, with a transition period until August 31, 2024. Amy Rice has been appointed as his successor, bringing extensive experience from CSX Corp and Sy-Klone International. Rice's executive employment agreement includes a three-year term with an annual salary of $500,000 and eligibility for discretionary bonuses. She will receive a one-time award of restricted stock units valued at $1,325,000, vesting over three years. The agreement includes severance provisions, non-competition, and confidentiality clauses. This leadership change may impact the company's operational direction and stock performance, given Rice's background in transportation management. The report also notes that the company has no pending transactions involving Rice that require disclosure.