Advantages International services are provided through Werners domestic and global subsidiary companies and include ocean, air and ground transportation; freight forwarding; and customs brokerage. Clarence L Werner is the face behind Werner Enterprises. OMAHA, Neb., June 02, 2020 (GLOBE NEWSWIRE) -- Werner Enterprises, Inc. (Nasdaq: WERN), a premier transportation and logistics provider, today announced that Clarence L. Werner stepped down as its Executive Chairman effective May 31, 2020. He was. He has been a Company director since that time and also served as President until 1984. It will be hard for someone who dedicated the entirety of his life to making this company what it is to take a step back, Leathers said. The press release said that Morgan Stanley is acting as the sole underwriter in the transaction. As a result of these professional experiences, Mr. Werner brings to the Board a unique understanding of our business and operations attributed to his long-standing commitment to, management of and involvement with the Company for over 60 years, as well as his significant and extensive knowledge of the transportation industry. After submitting your request, you will receive an activation email to the requested email address. Details can be seen in Clarence L Werner's Latest Holdings Summary section. In 1977 the company moved to Omaha, where Gloria Werner lived out the rest of her life. On this week's episode of Idea Generation, renowned record producer Just Blaze explains how he built one of the most impressive resumes in music, taking us on a journey from his early days as a. International services are provided through Werner's domestic and global subsidiary companies and include ocean, air and ground transportation; freight forwarding; and customs brokerage. Werners unwavering commitment to excellence drives every aspect of our business, leading the company to be one step ahead in an ever-changing industry. Clarence L. Werner,48, Barber, Dies Werner of 104 Washington Ave, Ephrata, died, in the Ephrata Community Hospital Tuesday morning after a lengthy illness. I kind of like to think of her as one of the first real working women executives, Werner-Robertson said. Do Not Sell My Personal Information (CA Residents Only). Werner Enterprises executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Mr. Werner served as the Chief Executive Officer of Werner Enterprises Inc. from August 27, 2015 to May 10, 2016. Share sensitive information only on official, secure websites. He served as our Chief Executive Officer ("CEO") from 1984 until February 2007, and he was Chairman from 1984 until May 2011. The HSR Act requires companies and individuals to report stock purchases over a certain threshold to the FTC and DOJ and wait before closing the transaction so that the federal agencies can investigate the potential competitive impact of the acquisition. Smaller transactions may also be reportable under the Act due to the need to aggregate the new purchase with all current holdings. There are 2 executives at Werner Enterprises getting paid more, with DerekLeathers having the highest compensation of $3,522,010. You can help Wikipedia by expanding it. 2023, Nasdaq, Inc. All Rights Reserved. 1964 In 1964, CL moved his company out of his home and into a shop in Council Bluffs, Iowa. Whether in the office or behind the wheel, join Werner today. Clarence has made over 16 trades of the Werner Enterprises stock since 2004, according to the Form 4 filled with the SEC. Blog, Freight Quote Werner's founder, Clarence L. Werner, has stepped down, opening the door for current CEO Derek Leathers to fully take the reins. A .gov website belongs to an official government organization in the United States. Clarence L. Werner serves as Chairman of the Board of the Company. It didnt take long for her to get that check.. Diversity contributes to innovation and connects us to the many communities we serve. We commit to embracing these values as we move toward an increasingly inclusive culture where every associate feels empowered to bring their whole self to Werner. We take great pride in our transparency. Alternatively, copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at prospectus@morganstanley.com. googletag.pubads().enableSingleRequest(); Werner Enterprises has a strong foundation of driving greater sustainability throughout our over 65-year history. You can sign up for additional alert options at any time. There are 1 older and 21 younger executives at Werner Enterprises. Everyone today likes to focus on the highlights of these highly successful people and wants to rewrite history as if its an overnight success story, Leathers said. He operated Werner Enterprises as a sole proprietorship from 1956 until its incorporation in September 1982. The Justice Department's Antitrust Division, at the request of the Federal Trade Commission (FTC), filed a civil antitrust lawsuit today in the U.S. District Court for the District of Columbia against Clarence L. Werner (Werner). Werner was born Oct. 27, 1934, on her familys farm in Petersburg, Nebraska. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Werner assumes no duty or obligation to update or revise any forward-looking statement, although it may do so from time to time as management believes is warranted or as may be required by applicable securities law. Werners inaugural Corporate Social Responsibility Report is a culmination of the work weve been doing to carefully and strategically hone Werners commitment to ESG. Werner Enterprises now operates internationally and has about 13,000 employees and independent contractors. We work to advance government policies that protect consumers and promote competition. Werner Enterprises (NASDAQ: WERN) is owned by 85.74% institutional shareholders, 57.90% Werner Enterprises insiders, and 0.00% retail investors. Temperature-Controlled Founder Clarence L. (CL) Werner purchased a Ford gasoline-powered truck and entered the trucking business in 1956. Copy and paste multiple symbols separated by spaces. In addition to her daughter, Werner is survived by her children Gary Werner, Greg Werner and Curt Werner; 12 grandchildren; and five great-grandchildren. He was born in New Holland,the son of Mrs. Elizabeth King Weber, Ephrata, and the late Jeremiah Werner. Mr. Werner is the father of Gregory L. Werner. Listen to today's daily briefing: Subscribe: Apple Podcasts | Spotify | Amazon Alexa | Google Assistant | More, 80 M Street SE, Suite 800, Washington, D.C., 20003, Werner Acquires Truckload Carrier Baylor Trucking, Werner Partners With Aurora to Haul Freight Autonomously in Texas, FedEx Freight Plans Closure of 29 Locations | Transport Topics, California OKs Advanced Clean Fleets Regulation | Transport Topics, 3PLs Gain Market Share but Face Rising Fraud, TIA Leaders Say | Transport Topics, Toyota Class 8 Hydrogen Powertrain Approved in California | Transport Topics, 2023 Top 100 Logistics List Highlights Growth for 3PLs | Transport Topics, 2023 Transport Topics | All Rights Reserved. var gptSlot = googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[728, 90], [468, 60], [300, 100], [320, 50]], 'div-gpt-ad-b1-i-fw-ad-1').defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads()); Gloria Werner was always known as creative and tenacious. Actual results could differ materially from those anticipated as a result of a number of factors, including, but not limited to, those discussed in Werners Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020. United States v. Clarence L. Werner; Proposed Final Judgment and Competitive Impact Statement Notice is hereby given pursuant to the Antitrust Procedures and Penalties Act, 15 U.S.C. googletag.pubads().collapseEmptyDivs(); Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. . Global Services The service requires full cookie support in order to view this website. Looking for legal documents or records? On May 10, 2016, he stepped down as CEO and became Executive Chairman. Want more news? Hes built schools and churches and made major contributions to medical centers. Werner maintains its global headquarters in Omaha, Nebraska and maintains offices in the United States, Canada, Mexico and China. Contact Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Werner Enterprises, Inc. has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Werner will remain as chairman through his current term, which expires in May 2021. Werner was fortunate to have people around him who shared in his vision and remained loyal to the company including many who spent their careers there. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. After 20 + years driving, I am about to leave the professional driving slavery. By 1999, Werner had expanded its operations into Mexico, reaching one billion dollars in revenue. She worked. You have permission to edit this article. 100% Free Registration . As our founder, Mr. Werner has been actively involved in the Companys business and operations since its inception over 60 years ago. Today, Werner is a global company with 8,000 trucks and nearly 13,000 employees. A lock (LockA locked padlock) or https:// means youve safely connected to the .gov website. In addition, he makes $1,787,390 as Chairman of the Board at Werner Enterprises. Clarence L Werner Biography Box 64854 Contact: Fred Thayer, Associate Vice President- Corporate Brand and CommunicationsWerner Enterprises, Inc.402.895.6640 ext. Final Judgment (April 20, 2022) United States' Unopposed Motion and Memorandum in Support of Entry of Final Judgment (April 20, 2022) Complaint for Civil Penalties for Failure to Comply with the Premerger Reporting and Waiting Requirements of the Hart-Scott Rodino Act (December 22, 2021) Stipulation and Order . It was also very important to him that Werner made that transition while he was still able to help guide that transition.. Hes very philanthropic, Leathers said. The company is not selling any shares in the offering and will not receive proceeds from the sale of Werners shares. One-Way Truckload CL Werner started hauling cargo for other companies, building the company one truck at a time, hauling in regional areas. The company offers a diversified portfolio of transportation and logistics services to companies around the globe, including: In addition, Werner offers an alliance carrier network of more than 26,000 carriers and ocean, air and rail providers. Werner assumes no duty or obligation to update or revise any forward-looking statement, although it may do so from time to time as management believes is warranted or as may be required by applicable securities law. Werner Enterprises is a transportation and logistics leader, with more than 8,000 trucks, 24,000 trailers and nearly 13,000 employees. He has been a Company director since that time and also served as President until 1984. The statue, funded by Buffett, is the first of Gibson in his hometown and . WERNER ENTERPRISES INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Increased driver satisfaction and retention. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. www.fleetowner.com is using a security service for protection against online attacks. Clarence L. Werner Chairman-Emeritus J Jack A. Holmes Board Member K Kenneth M. Bird Board Member Alexi A. Wellman Board Member C Carmen A. Tapio Board Member S Scott C. Arves Board Member V Vikram Mansharamani Board Member D Diane K. Duren Board Member G Gerald H. Timmerman Board Member Show more Werner Enterprises Leadership Demographics Werner Enterprises was founded by Clarence L. Werner in 1956. Mr. Werner will continue to serve as Chairman of the board of directors through the end of his current term, which is expected to end in May 2021, and at that time it is expected that he will become Chairman Emeritus. Its truly the epitome of an American success story.. Clarence L. Werner, founder of the Omaha, Nebraska-based truckload carrier Werner Enterprises, Inc. will pay a $486,900 civil penalty to settle charges that certain of his acquisitions of company stock while he was a director of the company violated the Hart-Scott-Rodino Act. The Blue Brigade works with numerous organizations throughout the country each year, donating their personal time to help those in need. 1975 Need to talk to an agent? Clarence L Werner is the Chairman of Werner Enterprises Inc and owns about 3,028 shares of Werner Enterprises Inc (WERN) stock worth over $142,619 . Ive been here 21 years and yet I bring the average tenure of the executive team down, Leathers said, noting that it is not uncommon for people to remain with the company for 25 years or longer. Brokerage Standard Terms & Conditions Despite the companys growth over the years, C.L. As of 10 December 2014 he still owns at least 8 units of Werner Enterprises stock. NO,I don t drive illegally,neither did I back when,but I saw his drivers in violation after violation and accidents. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement, and other documents Werner Enterprises, Inc. has filed with the SEC for more complete information about Werner Enterprises, Inc. and the offering. The estimated Net Worth of Clarence L Werner is at least $603 Million dollars as of 10 December 2014. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Visitation is scheduled for 5 p.m. Tuesday at St. Wenceslaus Catholic Church, 15353 Pacific St., with a vigil service at 7 p.m. A funeral Mass will be celebrated at 10:30 a.m. Wednesday at the church. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated; medium-to-long-haul, regional and expedited van; and temperature-controlled. window.googletag = window.googletag || {cmd: []}; Werner Enterprises, Inc., headquartered in Omaha, Nebraska, is the fourth largest trucking company in the United States. Shareowner Services Become a Carrier Expedited Werner Enterprises is a transportation and logistics leader, with more than 8,000 trucks, 24,000 trailers and nearly 13,000 employees. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. googletag.enableServices(); Most recently he sold 14,130,523 units of WERN stock worth $579,351,443 on 8 June 2020. Leathers on May 31 was named a member and vice chairman of the board by the board of directors, and C.L. Werner also has a charitable side. [1] In 1964, CL moved his company out of his home and into a shop in Council Bluffs, Iowa. Sadly they dont care about the long term drivers anymore. {{start_at_rate}} {{format_dollars}} {{start_price}} {{format_cents}} {{term}}, {{promotional_format_dollars}}{{promotional_price}}{{promotional_format_cents}} {{term}}, Submit a Public Notice for Omaha World-Herald, By Paige Yowell / World-Herald staff writer, Leslie Arnold mystery solved: Man who died in Australia was enigmatic Nebraska fugitive, McKewon: Casey Thompson's departure, Nebraska's quarterback depth and coup of landing Jeff Sims, A new megadonor family is silently changing Nebraska political races, Built in the shape of a football with a soaring roof, 'Flying Nun' house is Bellevue icon, Six-week abortion ban dies in Nebraska Legislature, Nebraska Athletics parts ways with two veteran administrators, Nebraska quarterback Casey Thompson enters transfer portal, McKewon: Wisconsin's risky reset, Nebraska NFL draft takes and a fullback to watch, Dining Notes: New barbecue restaurant opens in Bellevue, Nebraska volleyball match at Memorial Stadium sells out in three days, Shatel: Casey Thompson is taking college athletics' merry-go-round the transfer portal, Creighton's Ryan Kalkbrenner enters NBA draft, Pospisil: Three new golf course gems made ranking Nebraska's best even tougher in 2023, With Jordan Larson on hand, Italy is perfect location for Elkhorn couple's wedding, Nebraska's point guard search continues as Hunter Sallis commits to Wake Forest, First Republic Bank to Be Sold to JPMorgan, Stock Market Today: Wall Street Rises to Cap a Winning April, Powerful New Obesity Drug Poised to Upend Weight Loss Care, Analyst Breaks Down Thursday's Market as Stocks Climb Amid Strong Tech Earnings. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. They think a degree in management or logistics makes them better then the drivers and qualified to tell someone with no tickets, csa points or accidents how to drive. He has been a Company director since that time and also served as President until 1984. googletag.pubads().enableSingleRequest(); Werner Enterprises stated that it had 2021 revenues of $2.7 billion and over 13,500 employees and contractors. Learn more about Werner and our industry expertise through these video resources. Hear a snippet, above, and get the full program by going to RoadSigns.TTNews.com. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement, and other documents Werner Enterprises, Inc. has filed with the SEC for more complete information about Werner Enterprises, Inc. and the offering. An official website of the United States government. Are you an organization or group who would like to request assistance from the Blue Brigade? Login, Drive Blue In connection with this transition, the board of directors appointed Derek Leathers, the current Chief Executive Officer and President of the Company, as a member and Vice Chairman of the board of directors effective May 31, 2020. Civil Action No. They got a building full of number counters who think long time career drivers are too much of a expense when they can take no experienced steering wheel holders and replace them. In 1956, Clarence "CL" Werner sold his family vehicle for a Ford Motor Company gasoline-powered truck, and began hauling cargo for other companies. he and his log dept deviced the evil scheme that has been getting worse ever since. [1] In 1964, CL moved his company out of his home and into a shop in Council Bluffs, Iowa. Alternatively, copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at prospectus@morganstanley.com. She was 79. googletag.pubads().collapseEmptyDivs(); Mr. Werner started his career as a truck driver at age 19 with one single truck. Werners outlook on managing the company, Leathers said. 100-2065fthayer@werner.com. Secure .gov websites use HTTPS Some photos, graphics, and other materials used on this website are copyrighted and used with permission or licensed for use on this website, but may not be copied and distributed without the copyright holders permission. Thats likely attributable to C.L. Franchisee Conversations with Chair Khan, Certificate Of Compliance with Provisions of The Antitrust Procedures and Penalties Act, United States Unopposed Motion and Memorandum in Support of Entry of Final Judgment, Complaint for Civil Penalties for Failure to Comply with HSR Premerger Requirements, FTC Fines Clarence L. Werner, Founder of the Truckload Carrier Werner Enterprises, Inc. for Repeatedly Violating Antitrust Laws. Strength of Werner - Strengthens Your Business Werner Terminals As part of our 5Ts + S initiative, we have made substantial investments into our terminal network. I have talked for years about how we were founded by a driver, we are led by a driver and we try to lead with the driver in mind. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated; medium-to-long-haul, regional and expedited van; and temperature-controlled. Founded by Clarence L. Werner in 1956, it is a publicly traded company led by the Werner family, which retains 40 percent ownership. In 1977, Werner Enterprises moved its corporate headquarters to its current location in Omaha, Nebraska. Complete the form below and well get in touch. Type a symbol or company name. Clarence Werner is 82, he's been the Chairman of the Board of Werner Enterprises since 2020. Werners Blue Brigade is a team of compassionate and committed associates who volunteer their time and talent to serve the community. Werner was in continuous violation of the HSR Act from May 14, 2007, when he acquired the Werner Inc. voting securities valued in excess of the HSR Act's $100 million filing threshold, as adjusted, through April 3, 2020, when the waiting period expired on his . [3], In 1956, Clarence "CL" Werner sold his family vehicle for a Ford Motor Company gasoline-powered truck, and began hauling cargo for other companies. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated; medium-to-long-haul, regional and expedited van; and temperature-controlled. Mr. Werner will continue to serve as Chairman of the board of directors through the end of his current term, which is expected to end in May 2021, and at that time it is expected that he will become Chairman Emeritus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. OMAHA, Neb., June 03, 2020 (GLOBE NEWSWIRE) - Werner Enterprises, Inc. (Nasdaq: WERN) today announced the pricing of an underwritten public offering of 12,845,930 shares of its common stock by the Clarence L. Werner Revocable Trust, of which our founder Clarence L. Werner is the grantor and sole trustee, at a public offering price of $41.00 per share. Defendant. This process is automatic. Today, over 65 years since CLs journey began, Werner Enterprises, Inc. is an asset-based logistics provider and one of the five largest truckload carriers in the United States. In 2012 he was presented with the Horatio Alger Award, which recognizes business and community service efforts. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies. Werner Enterprises, Inc. has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Actual results could differ materially from those anticipated as a result of a number of factors, including, but not limited to, those discussed in Werners Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020. Gloria Werner's hard work a big part of trucking company's success. Any such updates or revisions may be made by filing reports with the U.S. Securities and Exchange Commission, through the issuance of press releases or by other methods of public disclosure. Find the resources you need to understand how consumer protection law impacts your business. Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., center, and Clarence L. Werner, founder of the Werner Enterprises, right, attend an event honoring Hall of Fame pitcher Bob Gibson in Papillion, Nebraska, U.S. on Thursday, April 11, 2013. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. Werner stepped down from his role as executive chairman effective May 31, but will continue as. 1:21-cv-03332 Judge: James E. Boasberg Start Printed Page 479 Complaint for Civil Penalties for Failure To Comply With the Premerger Reporting and Waiting Requirements of the Hart-Scott Rodino Act Such forward-looking statements are based on information presently available to Werners management and are current only as of the date made. Site Map His wife, Helen Mellinger Werner survives. Clarence L. Werner serves as Chairman of the Board of the Company. Morgan Stanley is acting as the sole underwriter of the offering. Notably, the agency alleged that several of the purchases were . OMAHA, Neb. Terms and Conditions, Werner Announces Planned Transition of its Founder and Related Proposed Secondary Offering of Common Stock, Beginning of a New Chapter as Werner Founder CL Werner Transitions, Governance Documents & Committee Composition. Clarence L. Werner, c/o Werner Enterprises, Inc., 14507 Frontier Road, Omaha, NE 68138 , Defendant. He is the face of tiranny and evil,as far as I am concerned. He has his own foundation that does work around things he has passion for., Leathers added, His legacy, in short, means everything to us. (WOWT) - The Federal Trade Commission announced Wednesday that the founder of Omaha-based truckload carrier Werner Enterprises, Inc. will pay a $486,900 civil penalty to settle. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[468, 60], [728, 90], [300, 100], [320, 50]], 'div-gpt-ad-1665767472470-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); C.L. Werner Enterprises, Inc.s common stock trades on the Nasdaq Global Select MarketSMunder the symbol WERN. The Clarence L. Werner Revocable Trust is also expected to grant the underwriter of the offering a 30-day option to purchase up to an additional 1,284,593 shares of common stock. This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about the proposed offering and the expected transition of the role of Chairman of the board of directors, made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. C.L. The company also announced that nearly 13 million shares of Werners common stock held in a revocable trust was registered for sale in a public offering. }); Transportation and logistics provider Werner Enterprises (NASDAQ: WERN) announced in an after market close press release on June 2 that founder and executive chairman of the board Clarence L CL Werner stepped down from the executive chair seat on May 31. Hes a thoughtful leader. Morgan Stanley is acting as the sole underwriter of the offering. Werner stepped down from his role as executive chairman effective May 31, but will continue as chairman of the board of directors through the end of his current term, which is set to end May 2021. Learn how and when to remove this template message, "Werner CEO Looks Back at Founder's Legacy", "Werner Enterprises, Inc, Form 10-K, Annual Report", "Werner Enterprises Reports Fourth Quarter and Annual 2021 Results", https://en.wikipedia.org/w/index.php?title=Werner_Enterprises&oldid=1144949503, This page was last edited on 16 March 2023, at 13:03. Elogs weren t made for ppl like me who drives legal 100% of the time,but I am a casualty,all bc of this man and his outlaw company. Today, the Federal Trade Commission announced that Clarence L. Werner, founder of the Omaha, Nebraska-based truckload carrier Werner Enterprises, Inc. will pay a $486,900 civil penalty to settle charges that certain of his acquisitions of company stock while he was a director of the company violated the Hart-Scott-Rodino (HSR) Act. Werner Enterprises CEO Derek Leathers in an exclusive interview with Transport Topics discussed how the principles established by company founder Clarence L. Werner who plans to step down as chairman of the board next year remain the foundation of how the company operates. On average, Clarence trades about 373,335 units every 132 days since 2004. The Clarence L. Werner Revocable Trust is also expected to grant the underwriter of the offering a 30-day option to purchase up to an additional 1,284,593 shares of common stock.