UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report ~~(Date of earliest event reported): March 26, 2025~~

(Date of earliest

event reported): April 29, 2025

DOUGLAS DYNAMICS, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-34728	13-4275891
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

11270 W Park Place Ste 300, Milwaukee, ~~Wisconsin 53224~~ Wisconsin53224

(Address of principal executive offices, including zip code)

(414) 354-2310

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $.01 per share	PLOW	New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 15.0107. Submission ~~Entry~~of ~~into~~Matters to a ~~Material~~Vote ~~Definitive~~of ~~Agreement~~Security Holders.

On ~~March~~April 2629, 2025, Douglas Dynamics, Inc. (the “Company”), asheld ~~guarantor, and~~ its ~~wholly-owned~~annual ~~subsidiaries,~~meeting ~~Douglas~~of ~~Dynamics,~~stockholders ~~L.L.C.~~ (~~“DDI LLC” or~~ the “~~Term~~2025 ~~Loan~~Annual ~~Borrower~~Meeting”)~~, Fisher, LLC (“Fisher”), Trynex International LLC (“Trynex”), Henderson Enterprises Group, Inc~~. The ~~(“Enterprises”),~~name ~~Henderson~~of ~~Products,~~each ~~Inc.~~director ~~(“Products”),~~elected ~~and~~at ~~Dejana Truck & Utility Equipment Company, LLC (“Dejana”, together with DDI LLC, Fisher, Trynex, Enterprises and Products,~~ the ~~“Revolving~~2025 ~~Loan~~Annual ~~Borrowers”~~Meeting, ~~and~~a ~~together~~brief ~~with~~description ~~DDI~~of ~~LLC~~each inother ~~its~~matter ~~capacity~~voted asupon ~~the~~at ~~Term Loan Borrower,~~ the ~~“Borrowers”),~~2025 asAnnual ~~borrowers,~~Meeting ~~entered into an Amended~~ and ~~Restated Credit Agreement (~~the ~~“Credit~~number ~~Agreement”)~~of ~~with~~votes ~~the~~cast ~~banks and financial institutions listed in the Credit Agreement~~for, asagainst ~~lenders,~~or ~~JPMorgan Chase Bank~~withheld, ~~N.A.,~~ as ~~administrative~~well ~~agent, J.P. Morgan Chase Bank, N.A. and CIBC Bank USA,~~ as ~~joint~~the ~~lead~~number ~~arrangers and joint bookrunners, CIBC Bank USA, as syndication agent, and Bank~~ of ~~America,~~abstentions ~~N.A.~~ and ~~BMO~~broker ~~Harris Bank, N.A., as co~~non-~~documentation~~votes ~~agents, which amended and restated that certain Credit Agreement, dated~~ as ofto ~~June~~each 9,such ~~2021 (as amended by Amendment No. 1~~matter, ~~dated~~ as ~~of January 5~~applicable, ~~2023,~~are ~~Amendment~~set ~~No.~~forth ~~2, dated as of July 11, 2023, and Amendment No~~below. 3, dated as of January 29, 2024, the “Original Credit Agreement), among the Company, the Term Loan Borrower, the Revolving Borrowers, the lenders named therein, and JPMorgan Chase Bank, N.A., as administrative agent. The following summary of the material terms of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the Credit Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.

~~The~~Election ~~Credit Agreement provides for a senior secured term loan to the Term Loan Borrower in the amount~~ of ~~$150.0~~Three ~~million~~Directors ~~and a senior secured revolving credit facility available~~ to ~~the~~Terms ~~Revolving~~Expiring ~~Loan~~at ~~Borrowers in~~ the ~~amount~~2028 ofAnnual ~~$125.0~~Meeting ~~million,~~ of which $10.0 million will be available in the form of letters of credit and $15.0 million will be available for the issuance of short-term swingline loans. The Credit Agreement also allows the Borrowers to request increases to the revolving commitments and/or incremental term loans in an aggregate amount not in excess of $175.0 million, subject to specified terms and conditions. The final maturity date of the Credit Agreement is March 26, 2030. DDI LLC applied the proceeds of the senior secured term loan facility under the Credit Agreement to refinance its existing senior secured term loan and revolving credit facilities under the Original Credit Agreement and for the payment of transaction consideration and expenses in connection with the Credit Agreement.Stockholders

The Revolving Loan Borrowers will be required to pay a fee for unused amounts under the senior secured revolving facility in an amount ranging from 0.150% to 0.300% of the average daily unused portion of the senior secured revolving credit facility, depending on DDI LLC’s Leverage Ratio (as defined in the Credit Agreement). The Credit Agreement provides that the senior secured term loan facility will bear interest at (i) the Term SOFR Rate for the applicable interest period plus (ii) a margin ranging from 1.375% to 2.000%, depending on DDI LLC’s Leverage Ratio. The Credit Agreement provides that the Revolving Loan Borrowers have the option to select whether the senior secured revolving credit facility borrowings will bear interest at either (i)(a) the Term SOFR Rate for the applicable interest period plus (b) a margin ranging from 1.375% to 2.000%, depending on DDI LLC’s Leverage Ratio, or (ii) a margin ranging from 0.375% to 1.000% per annum, depending on DDI LLC’s Leverage Ratio, plus the greatest of (which if the following would be less than 1.00%, such rate shall be deemed to be 1.00%) (a) the Prime Rate (as defined in the Credit Agreement) in effect on such day, (b) the NYFRB Rate (as defined in the Credit Agreement) plus 0.50% and (c) the Term SOFR Rate for a one month interest period plus 1%. If the Term SOFR Rate for the applicable interest period is less than zero, such rate shall be deemed to be zero for purposes of calculating the foregoing interest rates in the Credit Agreement.

Name of Nominee	Shares Voted For	Shares Withheld	Broker Non-Votes
Margaret S. Dano	17,821,125	2,591,131	1,243,421
Donald W. Sturdivant	18,952,674	1,459,582	1,243,421
Mark Van Genderen	20,091,976	320,280	1,243,421

~~The~~Advisory ~~Credit~~Vote ~~Agreement~~on ~~includes~~Approval ~~customary representations, warranties and negative and affirmative covenants, as well as customary events~~ of ~~default and certain cross default provisions that could result in acceleration of~~ the ~~Credit~~Compensation ~~Agreement. In addition, the Credit Agreement requires DDI LLC to have a Leverage Ratio~~ of ~~not more than 3.50 to 1.00 as of~~ the ~~last~~Company’s ~~day~~Named ofExecutive any fiscal quarter commencing with the fiscal quarter ending March 31, 2025, and to have a Consolidated Interest Coverage Ratio (as defined in the Credit Agreement) of not less than 3.00 to 1.00 as of the last day of any fiscal quarter commencing with the fiscal quarter ending March 31, 2025.Officers

The Credit Agreement is secured by substantially all of the personal property of the Company and the Borrowers owned as of March 26, 2025 or acquired thereafter.

Shares Voted For		Shares Voted Against		Abstentions		Broker Non-Votes
19,354,476		863,482		194,297		1,243,421

~~Item~~Ratification ~~2.03.~~of ~~Creation~~the Appointment of aDeloitte& ~~Direct~~Touche ~~Financial~~LLP ~~Obligation~~as orthe anCompany’s ~~Obligation~~Independent ~~under~~Registered anPublic ~~Off-Balance~~Accounting ~~Sheet~~Firm ~~Arrangement.~~for 2025

The information contained in Item 1.01 in this Current Report on Form 8-K is hereby incorporated into this Item 2.03 by reference.

Shares Voted For		Shares Voted Against		Abstentions
21,523,504		118,277		13,896

Item 9.01. Financial Statements and Exhibits.

(a)	Not applicable.
(b)	Not applicable.
(c)	Not applicable.
(d)	Exhibits.	The following exhibits are being filed or furnished (as applicable) herewith:
	(10.1)	Amended and Restated Credit Agreement, dated as of March 26, 2025, among Douglas Dynamics, L.L.C., Fisher, LLC, Trynex International LLC, Henderson Enterprises Group, Inc., Henderson Products, Inc., and Dejana Truck & Utility Equipment Company, LLC, Douglas Dynamics, Inc., the banks and financial institutions listed therein, as lenders, JPMorgan Chase Bank, N.A., as administrative agent, J.P. Morgan Chase Bank, N.A. and CIBC Bank USA, as joint lead arrangers and joint bookrunners, CIBC Bank USA, as syndication agent, and Bank of America, N.A. and BMO Harris Bank, N.A., as co-documentation agents.
	(104.1)	Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	DOUGLAS DYNAMICS, INC.
Date: March 28, 2025	By:	/s/ Sarah Lauber
		Sarah Lauber
		Executive Vice President, Chief Financial Officer and Secretary

Date: May 2, 2025

	DOUGLAS DYNAMICS, INC.


	By:	/s/ Sarah Lauber
		Sarah Lauber
		Executive Vice President, Chief Financial Officer and Secretary

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