Hertz settles Cascia v. Farmer litigation, amends voting pact with CK Amarillo
HTZ•Sale-of-control and termination terms
The agreement adds a sale-of-control clause that requires payments to common shareholders if CK Amarillo sells 50% or more above the contract’s Market Price.
The agreement ends once CK Amarillo’s stake drops below 45% and the 2021-2022 repurchase programs are exhausted or terminated.
Settlement and amended voting agreement
Hertz entered an amended voting agreement with CK Amarillo on Aug. 20, 2026, tied to settlement of Cascia v. Farmer litigation.
CK Amarillo must mirror other stockholders’ votes for any holdings above 45% of total voting power.
