Hub Group, Inc. (NASDAQ:HUBG), a Delaware-incorporated transportation and logistics company headquartered in Oak Brook, Illinois, filed a Current Report on September 15, 2026, disclosing leadership changes, a credit agreement amendment, and preliminary quarterly financial results.

Key Highlights

  • New CEO appointed: The Board appointed David P. Yeager as Chairman and Chief Executive Officer, effective September 13, 2026.
  • CFO-Elect named: Patrick O'Donnell was appointed Chief Financial Officer and Treasurer, effective following the filing of the company's Annual Report for fiscal year ended December 31, 2025.
  • Credit agreement extended: A Third Amendment to the Credit Agreement extended the deadline for delivering audited and unaudited financial statements to November 30, 2026.
  • EBITDA definition updated: The amendment adds back expenses incurred on or prior to December 31, 2026, related to the company's restatement of financial statements for years ended December 31, 2024 and 2023.
  • Interim CFO consulting fee raised: Effective December 1, 2026, the monthly cash consulting fee for Todd Heeter's consulting entity increases to $175,000, with a $1,250,000 cash retention bonus tied to the filing of the 2025 Annual Report.
  • Incoming CFO compensation: Patrick O'Donnell's offer letter provides an annual salary of $650,000, a performance-based target bonus equal to 80% of annual salary, and a one-time restricted stock grant of approximately $1,300,000.

Leadership Overhaul and Credit Agreement Changes at Hub Group

According to the filing, David P. Yeager, age 73, returned to the Chief Executive Officer role on September 13, 2026, after having served as Executive Chairman since January 2023. He previously held the CEO position from March 1995 to December 2022. Phillip D. Yeager, his son, will continue as President and Vice Chairman. The filing also discloses that Matthew Yeager, another son of David Yeager, serves as Executive Vice President, Procurement, with a 2026 base salary of $386,250, restricted stock awards with a grant date fair value of $300,020 in 2026, and a cash retention payment of $54,075 received in July 2026.

Patrick O'Donnell, age 47, was appointed CFO-Elect on September 13, 2026, with his role becoming effective upon the filing of Hub Group's 2025 Annual Report. According to the filing, O'Donnell most recently served as Executive Vice President and Chief Financial Officer of TreeHouse Foods, Inc. from April 2023 to February 2026, and previously spent over 14 years at PricewaterhouseCoopers. His long-term incentive package includes an approximately $1,000,000 annual award beginning on or about January 2, 2027, split equally between time-based restricted stock vesting over five years and performance-based restricted stock vesting on the third anniversary of the grant date.

On the credit side, Hub Group entered into a Third Amendment to its Credit Agreement, originally dated June 20, 2025, with Bank of Montreal serving as administrative agent. The filing states that the amendment extended the deadline for delivering financial statements for the quarters ended March 31, 2026, June 30, 2026, and September 30, 2026, as well as audited statements for the year ended December 31, 2025, all to November 30, 2026. This extension is connected to the company's previously disclosed restatement of financial statements for fiscal years 2024 and 2023, as referenced in Current Reports filed February 5, 2026 and May 12, 2026, according to the filing.

What Was Disclosed

The filing disclosed a CEO appointment, a CFO-Elect appointment with detailed compensation terms, an amendment to the interim CFO consulting arrangement, a third amendment to the company's credit agreement extending financial statement deadlines to November 30, 2026, and the furnishing of a press release containing certain preliminary first and second quarter 2026 results.