Business Context and Reporting Period
This Form 8-K was filed by Universal Truckload Services, Inc. (also referenced as Universal Logistics Holdings, Inc. in metadata) on June 29, 2006. The report discloses a material definitive agreement entered into by Universal Am-Can, Ltd. (UACL), a subsidiary of the registrant.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial data disclosed relates to a specific executive compensation arrangement:
- Compensation Rate: $10,000 per month.
- Expense Allowance: $493 per month for automobile-related expenses.
- Term: Extended for 24 months (August 2006 through July 2008).
Material Changes Versus Prior Period
The filing details a material change to the consulting agreement with Angelo A. Fonzi, a director of the company:
- Previous Terms: Under the agreement amended on September 28, 2005, Mr. Fonzi's compensation was scheduled to decrease to $5,000 per month beginning in August 2006.
- New Terms: The June 29, 2006 amendment maintains the compensation rate at $10,000 per month and adds the $493 monthly automobile allowance for the next 24 months.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding future business outlook, financial guidance, or general risk factors. The document is strictly limited to the disclosure of the amended consulting agreement and the filing of the associated exhibit.
Investor Verification Checklist
- Verify the total annual cost of the amended agreement ($10,000 + $493) x 24 months.
- Confirm the relationship between Angelo A. Fonzi and the company (Director) to assess related-party transaction implications.
- Review the attached Exhibit 10.1 for any additional covenants or termination clauses not summarized in the text.
- Check subsequent filings to ensure the agreement was executed as described.