Hertz Global Holdings (NASDAQ: HTZ) entered into an amended and restated voting agreement with CK Amarillo LP on August 20, 2026, in connection with the settlement of the Cascia v. Farmer, et al. litigation.

The amended agreement, which updates a prior voting agreement dated March 24, 2025, requires CK Amarillo to vote any shares exceeding 45% of the total voting power of all outstanding voting securities in proportion to all other votes cast by stockholders. Voting securities at or below the 45% threshold may be voted at CK Amarillo's discretion.

The updated agreement also introduces a sale of control provision. If CK Amarillo sells 50% or more of Hertz's total outstanding common stock to a third party at a price above the market price as defined in the agreement, CK Amarillo must deliver to common stockholders an amount calculated based on the percentage of shares sold, the premium above market price per share, and the number of shares sold.

The agreement will terminate when CK Amarillo and its affiliates collectively hold less than 45% of outstanding voting securities, and when the company has either spent all funds authorized under stock repurchase programs approved by its board in 2021 and 2022, or has terminated those programs.