Sterling Infrastructure Inc. filed SEC Form 8-K: Other Events, Financial Statements and Exhibits
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Military/Government/Technical
Industrials
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): December 31, 2024
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Item 8.01 Other Events.
| Since 2012, Sterling Infrastructure, Inc. (“Sterling”) has held a 50% ownership interest in Road and Highway Builders, LLC (“RHB”), with Rich Buenting holding the remaining 50% ownership interest. On December 31, 2024, both parties executed an amendment to the RHB operating agreement to ensure the continuation of this mutually beneficial relationship while addressing the evolving needs and interest of both parties. This amendment modified the way RHB would be dispositioned in the event of the death or disability of Mr. Buenting and provides that in such event, Sterling and Mr. Buenting’s estate must agree with one of four alternatives: (1) continuation of the existing ownership structure; (2) acquisition of Sterling’s 50% interest by Mr. Buenting’s estate at fair value; (3) acquisition of Mr. Buenting’s 50% interest by Sterling at fair value; or (4) the joint sale of RHB to a third party at fair market value. Further, the amendment changes the way that RHB results are reported under Generally Accepted Accounting Principles, but does not change RHB's historical or future contribution to Sterling's consolidated net income. On January 7, 2025, Sterling issued a press release announcing the amended agreement. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. | |||||
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number | Description | |||||||
| 99.1 | ||||||||
| 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. | ||
| STERLING INFRASTRUCTURE, INC. | |||||||||||
| Date: | January 7, 2025 | By: | /s/ Sharon R. Villaverde | ||||||||
| Sharon R. Villaverde | |||||||||||
| Chief Financial Officer | |||||||||||