Ford Motor Company
Ford Motor Company Extends Tax Benefit Preservation Plan
Summary
On September 12, 2024, Ford Motor Company announced the extension of its Tax Benefit Preservation Plan (TBPP) through Amendment No. 5, which was approved by the Board of Directors. The TBPP, originally entered into in 2009, is designed to preserve Ford's substantial tax attributes, including tax credit carryforwards, and is now extended to September 30, 2027. The amendment aims to prevent significant dilution in the ownership interest of any person or group that acquires 4.99 percent or more of Ford's outstanding shares, unless exempted by the Board. The TBPP was amended four times previously, with this latest amendment being the fifth.
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About Ford Motor Company
Ford Motor Company, a prominent entity in the automotive sector, is renowned for designing, manufacturing, and selling a full line of trucks, utility vehicles, and cars, domestically and internationally. This esteemed company, founded in 1903 and headquartered in Dearborn, Michigan, also holds a significant presence in the automotive financial services landscape through Ford Credit. Ford’s commitment to innovation is evident in its push towards sustainable and smart vehicles, including the development of electric and autonomous driving technologies. As a key player in the automotive industry, Ford impacts several sectors, including manufacturing, transportation, and energy. Its operations influence global supply chains, employment, and economic health. The company's broad market reach, storied history, and strategic emphasis on future mobility solutions reinforce its integral role in the automotive market's advancement and evolution.
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