Knight-Swift Transportation Holdings Inc. 8-K

What Happened
Knight‑Swift Transportation Holdings Inc. filed an 8‑K reporting that on December 31, 2025 its subsidiary Swift Receivables Company II, LLC (SRCII) entered into a new Receivables Purchase Agreement (the "2025 RPA"). The 2025 RPA, treated as a sale of receivables rather than a financing, establishes a $575.0 million facility limit and replaces the prior Restated Receivables Purchase Agreement (A&R RPA). Proceeds from the new facility were used to pay off outstanding borrowings under the A&R RPA, which was terminated concurrently. Also on December 31, 2025, Knight‑Swift appointed Soumit Roy as General Counsel and Corporate Secretary (executive vice president), reporting to CEO Adam Miller.

Key Details

• Facility limit: $575.0 million for eligible receivables under the 2025 RPA.
• Closing date: December 31, 2025; the 2025 RPA replaced and terminated the prior A&R RPA (originally restated June 14, 2013; last amended Oct 1, 2025).
• Parties: SRCII (seller), Swift Transportation Services, LLC (servicer), various purchasers and purchaser agents, and PNC Bank, N.A. (administrator).
• Cash flows and collections on sold receivables are held for the benefit of SRCII and the purchasers and are not available to satisfy claims of Knight‑Swift or its subsidiaries.
• Management change: Soumit Roy named General Counsel and Corporate Secretary, EVP, reporting to CEO Adam Miller. Form 8‑K signed by CFO Andrew Hess on Jan 2, 2026.

Why It Matters
The company says treating the arrangement as a sale of receivables (rather than a secured borrowing) is expected to reduce expenses. For investors, this transaction affects how receivable financing is structured and presented: it changes the source and control of cash collections (collections are held for purchasers) and may alter reported financing-related liabilities and expense trends. The appointment of a new General Counsel updates the company’s legal leadership. The filing also includes standard forward‑looking statement disclosures about risks and uncertainties.