Knighthead Co-Founder Thomas Wagner Leaves Hertz Board; Adam Zirkin Takes His Seat, 13D Shows
The amendment to CK Amarillo's 50.9% holding in Hertz states no new demands, nominations or strategic proposals.
Knighthead co-founder Thomas Wagner resigned from Hertz's board, and the board appointed Knighthead member Adam Zirkin to fill the seat, according to a Schedule 13D amendment filed Monday by CK Amarillo LP. The filing lists a 50.9% stake in the car-rental company and says nothing about new demands.
What the amendment says
Item 4 of Amendment No. 12 says that, effective at the close of business on October 1, Wagner, co-founder and co-managing member of Knighthead, resigned as a Hertz director. The board then appointed Zirkin, described as a member of Knighthead, as a director.
Wagner is not leaving the structure entirely. The filing says he remains on the investment committee of CK Amarillo.
The four reporting entities are CK Amarillo, CK Amarillo GP, Certares Opportunities and Knighthead Capital Management. Each reported shared voting power over 181,455,469 shares, or 50.9% of the class, and sole voting power of zero.
What it changes
The change is one of personnel. Knighthead keeps a representative on the Hertz board, and the amendment contains no demands, nominations, board letter or strategic-alternatives language.
This is the twelfth amendment to a Schedule 13D first filed on July 12, 2021. The two before it were filed on August 10 and August 24, 2026.
Hertz stock stood at $1.79 in Monday after-hours trading, unchanged from the regular close (market data). The company's market cap was $627 million as of Monday.
The filing is a record of who sits in the seat, and Item 4 adds nothing beyond the swap and Wagner's continued role on the investment committee.
