8-K 1 wern8k60706.txt WERNER ENTERPRISES, INC. 8-K 06/07/2006 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): June 7, 2006 ---------------- WERNER ENTERPRISES, INC. (Exact name of registrant as specified in its charter) NEBRASKA 0-14690 47-0648386 (State or other jurisdiction of (Commission File (IRS Employer incorporation) Number) Identification No.) 14507 FRONTIER ROAD POST OFFICE BOX 45308 OMAHA, NEBRASKA 68145 (Address of principal (Zip Code) executive offices) Registrant's telephone number, including area code: (402) 895-6640 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)) ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT. On June 7, 2006, Werner Enterprises, Inc. (the "Company") amended its $75.0 million bank credit facility with Wells Fargo Bank, National Association. This fourth amendment to the original credit agreement dated May 16, 2003, as amended, increased the credit facility to $100.0 million and extended the maturity date from May 16, 2007 to May 31, 2011. The amendment also replaced the minimum consolidated tangible net worth requirement with a maximum total debt to capitalization requirement of 40%. Any amounts that may be borrowed pursuant to this facility bear interest at a variable rate based on the London Interbank Offered Rate and would be due and payable in full on or before May 31, 2011. As of June 7, 2006, the Company had no outstanding borrowings under this facility, and the credit available is reduced by $37.2 million in letters of credit the Company maintains. 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. WERNER ENTERPRISES, INC. Date: June 13, 2006 By: /s/ John J. Steele ---------------- ------------------------------ John J. Steele Executive Vice President, Treasurer and Chief Financial Officer Date: June 13, 2006 By: /s/ James L. Johnson ---------------- ------------------------------ James L. Johnson Senior Vice President, Controller and Corporate Secretary