Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On March 1, 2021, upon the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors (the "Board") of USA Truck, Inc. (the "Company"), the Board appointed Rajan Penkar as a Class I Director with a term expiring at the Company's 2023 Annual Meeting of Stockholders.
Mr. Penkar brings to the Company senior leadership experience in logistics, supply chain, and risk management. Since 2014, Mr. Penkar has served as president and founder of Supply Chain Advisory Services, LLC, which provides supply chain design and optimization services to retailers. From 2011 to 2014, Mr. Penkar served as senior vice president and president, supply chain for Sears Holding Corporation. From 1987 to 2011, Mr. Penkar held various positions of increasing responsibility with United Parcel Service, Inc., most recently serving as President, UPS Customer Solutions.
Mr. Penkar holds a master’s degree in mechanical engineering from Syracuse University and a Bachelor of Technology degree in mechanical engineering from the Indian Institute of Technology, Bombay. Mr. Penkar is the recipient of 14 patents in robotics, automation, and supply chain processes. There is no arrangement or understanding between Mr. Penkar and any other person pursuant to which Mr. Penkar was appointed as a director of the Company. There are no transactions involving Mr. Penkar requiring disclosure under Item 404(a) of Regulation S-K.
On March 1, 2021, Thomas M. Glaser notified the Company that he will not seek reelection as a director of the Company upon expiration of his current term at the Company’s 2021 Annual Meeting of Stockholders. Mr. Glaser stated that his decision to not seek reelection did not result from any disagreement with the Company.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
99.1 Press release issued by the Company on March 4, 2021.
The information contained in Item 9.01 of this report and the exhibit hereto shall not be deemed ��filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
