Hub Group Gets Nasdaq Delisting Notice Over Unfiled Reports

What happened

Hub Group, Inc., a freight transportation and logistics company based in Oak Brook, Illinois, disclosed in a Form 8-K filed September 17, 2026 that it received a Staff Delisting Determination from the listing qualifications staff of The Nasdaq Stock Market LLC on September 16, 2026.

According to the filing, Nasdaq initiated a process to delist Hub Group's Class A common stock, which trades under the symbol HUBG, because the company is not in compliance with Nasdaq Listing Rule 5250(c)(1). That rule requires companies listed on Nasdaq to timely file all required periodic reports with the Securities and Exchange Commission.

The filing states the Staff Determination was issued because Hub Group had not filed its Annual Report on Form 10-K for the year ended December 31, 2025, its Quarterly Report on Form 10-Q for the period ended March 31, 2026, or its Quarterly Report on Form 10-Q for the period ended June 30, 2026 by September 14, 2026 — the last day of a 180-day extension period Nasdaq had previously granted.

Hub Group said it intends to appeal by timely requesting a hearing before a Nasdaq Hearings Panel. Under Nasdaq's listing rules, the request must be made within seven calendar days of receiving the Staff Determination, or by September 23, 2026. The company also said it intends to ask that any suspension be further stayed during the hearing process, and that there is no assurance the Hearings Panel will grant an extended stay.

The filing does not explain why the periodic reports were not filed. The company said in the 8-K that the Staff Determination has no immediate effect and will not immediately result in a suspension of trading or delisting of its Class A common stock.

The filing

Hub Group reported the notice under Item 3.01 of Form 8-K, the item reserved for notice of delisting or failure to satisfy a continued listing rule or standard. It also furnished a press release announcing the notice under Item 7.01, the Regulation FD disclosure item, and listed the release as Exhibit 99.1 under Item 9.01.

Regulation FD — Regulation Fair Disclosure — is an SEC rule that requires companies to disclose material information to all investors at the same time rather than to selected analysts or investors first. Materials furnished under Item 7.01 are not treated as "filed" for purposes of liability under Section 18 of the Securities Exchange Act of 1934, a distinction the filing states explicitly.

What this means

Rule 5250(c)(1) is a maintenance requirement, not an initial listing standard: once a company's stock is listed on Nasdaq, the company must keep filing its annual and quarterly reports with the SEC on time. A Form 10-K is the annual report; a Form 10-Q is the quarterly report. Missing them puts the listing itself at risk.

A Staff Delisting Determination is not the same as a delisting. It starts a process. Nasdaq's rules give the company seven calendar days from receipt to request a hearing before a Hearings Panel. That request automatically stays any suspension of trading for 15 days from the date of the request.

That 15-day figure is the pivotal number in this filing. If Hub Group requests a hearing, trading in HUBG continues for at least those 15 days. Beyond that, the company must persuade the Hearings Panel to extend the stay. If the panel declines, per the filing, the Class A common stock "would be suspended from trading at the end of the 15-day automatic stay period and would remain suspended unless the Hearings Panel, in its written decision issued after the hearing, determines to reinstate the trading of the Class A common stock." The filing says hearings are typically scheduled about 30 to 45 days after a hearing request.

Note what would be delisted here: Class A common stock, the company's equity, not debt securities. A Form 25 filed to remove matured notes or bonds from a listing is routine housekeeping, but the removal of a company's common stock from an exchange is a materially different event. This notice concerns the stock itself.

What normally happens next is procedural rather than predictive: Hub Group files its hearing request by September 23, 2026, the 15-day automatic stay begins, and a panel hearing follows within roughly a month to six weeks. The filing does not state when the missing 10-K and 10-Qs will be filed, and it does not say why they are late — so the reason the reports are outstanding is not established by these sources.