Business Context and Reporting Period
Company: Universal Technical Institute, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: February 16, 2005 (Event Date)
Reporting Period: Specific events occurring on February 16, 2005, and February 22, 2005.
Key Financial Metrics
This filing does not contain comprehensive financial statements, revenue, profit, cash flow, or margin data. The only specific financial figure disclosed relates to a capital expenditure:
- Property Acquisition: $12.4 million for a property in Norwood, Massachusetts (Boston suburb).
Note: The filing text does not provide clear values for debt, liquidity, or operating metrics.
Material Changes and Events
Corporate Governance Amendment
At the Annual Meeting of Stockholders on February 16, 2005, the Board of Directors amended the Amended and Restated Bylaws. The amendment grants the Board discretionary authority to allow stockholders to fill vacancies on the Board. Previously, only the Board could fill such vacancies.
Asset Acquisition
On February 22, 2005, the Company completed the purchase of a property in Norwood, Massachusetts, for $12.4 million. This transaction was the culmination of a definitive agreement previously disclosed in a Form 8-K filed on September 24, 2004.
Guidance, Outlook, and Risks
This filing does not contain management guidance, future outlook, risk factors, or discussion of contingencies. The document is limited to reporting the bylaw amendment and the completion of the property purchase.
Investor Verification Checklist
- Verify the impact of the bylaw amendment on shareholder voting rights regarding Board vacancies.
- Confirm the operational status and intended use of the newly acquired Norwood, Massachusetts property.
- Review the September 24, 2004 Form 8-K for the original terms of the property purchase agreement.
- Check subsequent quarterly reports (10-Q) for the financial impact of the $12.4 million acquisition on the balance sheet and cash flow.