Herc Holdings SEC Filings

Herc Holdings Inc. reported that one of its directors received an award of phantom stock on 01/01/2026. The filing shows the grant of 320 phantom stock units, which are each economically equivalent to one share of Herc Holdings common stock and were acquired at a price of $0.

According to the terms, the value of these phantom stock units will be paid out in shares of common stock after the director ceases to serve on the company’s Board of Directors, as long as that happens on or after the company’s 2026 annual meeting of stockholders, or earlier if there is a change of control. This structure effectively defers the director’s compensation into stock-linked units that settle when board service ends.

Herc Holdings Inc. director files initial ownership report showing no holdings

A director of Herc Holdings Inc. (HRI) filed an initial beneficial ownership statement as of 01/01/2026. The filing identifies the reporting person’s relationship to the company as a director and indicates that the form is filed by one reporting person. In the remarks, the report states that no securities are beneficially owned, meaning the director reports no ownership of Herc Holdings stock or derivative securities at the time of this filing.

Herc Holdings Inc. reported an equity award to one of its directors. On 01/01/2026, the director received 320 shares of common stock at a price of $0, shown as an acquisition in the filing and bringing the director’s beneficial ownership to 320 directly held shares.

An explanation notes this is an award of 320 restricted stock units, each representing one share of Herc Holdings common stock. These units are scheduled to vest on the date of the company’s 2026 annual meeting of stockholders, and the director must remain on the Board of Directors through that date for the award to vest.

Herc Holdings Inc. filed an initial ownership report for a director with an event date of 01/01/2026. The filing states that no securities of Herc Holdings Inc. are beneficially owned by the reporting person at this time. The form is filed by one reporting person and includes a power of attorney authorizing the signature on the report.

Herc Holdings Inc. issued $600 million of 5.750% senior unsecured notes due 2031 and $600 million of 6.000% senior unsecured notes due 2034. Interest is payable semi-annually on March 15 and September 15, starting March 15, 2026, and the notes are guaranteed on a senior unsecured basis by its domestic subsidiaries.

The company used the net proceeds, together with other borrowings, to redeem all $1,200 million of its 5.50% Senior Notes due 2027 at 100.00% of principal plus accrued interest, and the related indenture was discharged. Herc also amended its Credit Agreement effective December 10, 2025, reducing the interest rate margin to 1.75% for Term SOFR Term Loans and 0.75% for Base Rate Term Loans on $750,000,000.00 of outstanding loans.

Herc Holdings Inc. announced the pricing of two new senior unsecured note offerings totaling $1.2 billion. The company is issuing $600 million of 5.750% senior unsecured notes due 2031 and $600 million of 6.000% senior unsecured notes due 2034, each guaranteed on a senior unsecured basis, subject to limited exceptions, by its current and future domestic subsidiaries, including Herc Rentals Inc.

Following this notes offering, Herc Holdings expects to redeem all $1.2 billion aggregate principal amount of its outstanding 5.50% Senior Notes due 2027 and to pay related fees and expenses. The new notes are being offered in a private placement under Rule 144A and Regulation S and have not been registered under the Securities Act of 1933.

Herc Holdings Inc. announced a proposed private offering of senior unsecured notes that will be guaranteed on a senior unsecured basis, subject to limited exceptions, by its current and future domestic subsidiaries, including Herc Rentals Inc. The notes will be offered to qualified investors under Rule 144A and Regulation S and will not be registered under the Securities Act.

Following this offering, the company expects to redeem all $1,200 million in aggregate principal amount of its 5.50% Senior Notes due 2027 and pay related fees and expenses, effectively refinancing a large portion of its outstanding debt. In connection with the proposed notes offering and its June 2, 2025 acquisition of H&E Equipment Services, Inc., Herc prepared updated unaudited pro forma condensed combined statements of operations for the year ended December 31, 2024 and the nine months ended September 30, 2025 and 2024 to show how the combined business would have looked over those periods.

Herc Holdings Inc. announced a conditional plan to fully redeem its outstanding 5.50% Senior Notes due 2027. The company issued a notice to redeem all $1.2 billion aggregate principal amount of these notes on December 16, 2025 at a price equal to 100% of principal, plus accrued and unpaid interest up to, but excluding, the redemption date. The redemption will only occur if Herc completes new financing on terms it finds satisfactory and that generates enough proceeds to pay the full redemption price.

Herc Holdings Inc. (HRI) announced leadership and board changes. The Board elected Aaron Birnbaum, currently Chief Operating Officer, to become President effective January 1, 2026, while he continues in his existing operating role. Current President and CEO Larry Silber will remain Chief Executive Officer after that date.

Birnbaum will receive an initial annual base salary of $775,000, a target annual cash bonus opportunity equal to 100% of base salary, and an equity award valued at $2,000,000 in the first quarter of 2026 under the 2018 Omnibus Incentive Plan. The Board also elected Patrick S. Shannon and John A. Olin as independent directors, effective January 1, 2026, and appointed them to the Audit Committee. They will receive prorated non-employee director cash and equity compensation and will each enter into the Company’s standard indemnification agreement for directors.