SEC Form 8-K filed by The Goodyear Tire & Rubber Company
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): (
Month 1, 2025
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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| Item 2.02 | Results of Operations and Financial Condition. |
A copy of the News Release issued by The Goodyear Tire & Rubber Company (the “Company”) on Wednesday, May 7, 2025, describing its results of operations for the first quarter of 2025, is attached hereto as Exhibit 99.1.
| Item 8.01 | Other Events. |
On May 7, 2025, the Company completed its previously announced sale of the Company’s rights to the Dunlop brand in Europe, North America and Oceania for consumer, commercial and other specialty tires, together with certain associated intellectual property and inventory, to Sumitomo Rubber Industries, Ltd. (“SRI”) pursuant to a Purchase Agreement, dated as of January 7, 2025, between the Company and SRI. The Company received total gross cash proceeds of $735 million, comprised of $526 million for the Dunlop brand, $105 million for a transition support fee for transitioning the Dunlop brand, related intellectual property and Dunlop customers to SRI, and $104 million for the purchase of Dunlop tire inventory.
A copy of the News Release issued by the Company announcing the completion of the transaction is attached hereto as Exhibit 99.2.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit |
Description | |
| 99.1 | News Release, dated May 7, 2025 | |
| 99.2 | News Release, dated May 7, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| THE GOODYEAR TIRE & RUBBER COMPANY | ||||||
| Date: May 7, 2025 | By: | /s/ Christina L. Zamarro | ||||
| Christina L. Zamarro | ||||||
| Executive Vice President and Chief Financial Officer | ||||||