8-K - Lithia Motors, Inc. | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

Lithia Motors, Inc. entered into the Seventh Amendment to its Fourth Amended and Restated Loan Agreement on February 27, 2026, extending the credit facility expiration to February 27, 2031 with 1-year extension options, converting floorplan facilities to VIN-specific reporting, reallocating commitments totaling $6,500,000,000, and removing the Simple SOFR Adjustment.

Key Takeaways

1Entered Seventh Amendment on February 27, 2026 with U.S. Bank National Association as Agent and lenders

2Extended credit facility expiration to February 27, 2031 with annual 1-year extension options subject to conditions

3Converted Used Vehicle and Service Loaner Floorplan to VIN-specific reporting upon Company election

4Post-conversion commitments: New Vehicle Floorplan $2,700,000,000; Used Vehicle Floorplan $1,250,000,000; Service Loaner $150,000,000; Revolving Line $2,400,000,000

5TRUIST BANK and NISSAN MOTOR ACCEPTANCE COMPANY LLC are Exiting Lenders receiving payoff of outstanding loans

6Used Vehicle Floorplan Margin set to 1.20% per annum

7Exhibit 10.1 is the Seventh Amendment

Current Report Details

Event Type

Material Agreement

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. Entry Into a Material Definitive Agreement Seventh Amendment to Fourth Amended and Restated Loan Agreement On February 27, 2026, Lithia Motors, Inc. (the “Com

Material Agreement

9.01

Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 Seventh Amendment to Fourth Amended and Restated Loan Agreement, dated February 27,

Exhibits Only

Transaction Details

Material Agreement

Agreement: Seventh Amendment to Fourth Amended and Restated Loan Agreement
Parties: Lithia Motors, Inc., certain subsidiaries, U.S. Bank National Association as Administrative Agent, lenders party thereto, JPMorgan Chase Bank, N.A., Toyota Motor Credit Corporation, Mercedes-Benz Financial Services USA LLC, Bank of America, N.A., American Honda Finance Corporation, Wells Fargo Bank, National Association, PNC Bank National Association as Co-Syndication Agents

•Extends expiration date to February 27, 2031 with 1-year extension options annually subject to lender consent and conditions
•Converts Used Vehicle Floorplan and Service Loaner Floorplan to VIN-specific reporting upon election
•Adjusts commitments as of VIN Transition Date: New Vehicle Floorplan $2,700,000,000; Used Vehicle Floorplan $1,250,000,000; Service Loaner Floorplan $150,000,000; Revolving Line of Credit $2,400,000,000
•Removes Simple SOFR Adjustment
•Sets Used Vehicle Floorplan Margin to 1.20% per annum
•Exiting Lenders: TRUIST BANK and NISSAN MOTOR ACCEPTANCE COMPANY LLC

Exhibits (2)

10.1

EX-10.1

8-K