|
|
|
☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
Iowa
|
|
42-0935283
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification Number)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, no par value per share
|
CASY
|
The NASDAQ Global Select Market
|
|
Large accelerated filer
|
☒
|
Accelerated filer
|
☐
|
Non-accelerated filer
|
☐
|
Smaller reporting company
|
☐
|
Emerging growth company
|
☐
|
|
|
|
|
Class
|
|
Outstanding at February 24, 2020
|
Common stock, no par value per share
|
|
36,793,573 shares
|
|
|
|
Page
|
|
PART I
|
|
||
|
Item 1.
|
|
|
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
Item 2.
|
||
|
Item 3.
|
||
|
Item 4.
|
||
PART II
|
|
||
|
Item 1.
|
||
|
Item 1A.
|
||
|
Item 2
|
||
|
Item 6.
|
||
|
January 31,
2020 |
|
April 30,
2019 |
||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
43,539
|
|
|
$
|
63,296
|
|
Receivables
|
46,383
|
|
|
37,856
|
|
||
Inventories
|
263,185
|
|
|
273,040
|
|
||
Prepaid expenses
|
14,430
|
|
|
7,493
|
|
||
Income tax receivable
|
22,091
|
|
|
28,895
|
|
||
Total current assets
|
389,628
|
|
|
410,580
|
|
||
Other assets, net of amortization
|
70,815
|
|
|
41,154
|
|
||
Goodwill
|
157,648
|
|
|
157,223
|
|
||
Property and equipment, net of accumulated depreciation of $1,983,258 at January 31, 2020 and $1,826,936 at April 30, 2019
|
3,303,943
|
|
|
3,122,419
|
|
||
Total assets
|
$
|
3,922,034
|
|
|
$
|
3,731,376
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Lines of credit
|
$
|
76,000
|
|
|
$
|
75,000
|
|
Current maturities of long-term debt
|
577,743
|
|
|
17,205
|
|
||
Accounts payable
|
275,903
|
|
|
335,240
|
|
||
Accrued expenses
|
175,176
|
|
|
163,487
|
|
||
Total current liabilities
|
1,104,822
|
|
|
590,932
|
|
||
Long-term debt and finance lease obligations, net of current maturities
|
715,121
|
|
|
1,283,275
|
|
||
Deferred income taxes
|
425,242
|
|
|
385,788
|
|
||
Deferred compensation
|
15,892
|
|
|
15,881
|
|
||
Insurance accruals, net of current portion
|
22,673
|
|
|
22,663
|
|
||
Other long-term liabilities
|
49,694
|
|
|
24,068
|
|
||
Total liabilities
|
2,333,444
|
|
|
2,322,607
|
|
||
Shareholders’ equity:
|
|
|
|
||||
Preferred stock, no par value
|
—
|
|
|
—
|
|
||
Common stock, no par value
|
28,985
|
|
|
15,600
|
|
||
Retained earnings
|
1,559,605
|
|
|
1,393,169
|
|
||
Total shareholders’ equity
|
1,588,590
|
|
|
1,408,769
|
|
||
Total liabilities and shareholders' equity
|
$
|
3,922,034
|
|
|
$
|
3,731,376
|
|
|
Three Months Ended
January 31, |
|
Nine Months Ended
January 31, |
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
Total revenue (a)
|
$
|
2,248,198
|
|
|
$
|
2,048,076
|
|
|
$
|
7,362,413
|
|
|
$
|
7,174,513
|
|
Cost of goods sold (exclusive of depreciation and amortization, shown separately below) (a)
|
1,751,335
|
|
|
1,577,811
|
|
|
5,742,799
|
|
|
5,672,159
|
|
||||
Operating expenses
|
377,330
|
|
|
341,536
|
|
|
1,130,554
|
|
|
1,045,114
|
|
||||
Depreciation and amortization
|
63,285
|
|
|
61,324
|
|
|
185,981
|
|
|
181,520
|
|
||||
Interest, net
|
13,209
|
|
|
13,310
|
|
|
39,613
|
|
|
41,907
|
|
||||
Income before income taxes
|
43,039
|
|
|
54,095
|
|
|
263,466
|
|
|
233,813
|
|
||||
Federal and state income taxes
|
9,080
|
|
|
12,260
|
|
|
61,711
|
|
|
55,139
|
|
||||
Net income
|
$
|
33,959
|
|
|
$
|
41,835
|
|
|
$
|
201,755
|
|
|
$
|
178,674
|
|
Net income per common share
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
0.92
|
|
|
$
|
1.14
|
|
|
$
|
5.47
|
|
|
$
|
4.87
|
|
Diluted
|
$
|
0.91
|
|
|
$
|
1.13
|
|
|
$
|
5.43
|
|
|
$
|
4.83
|
|
Basic weighted average shares outstanding
|
36,920,960
|
|
|
36,717,415
|
|
|
36,901,338
|
|
|
36,694,308
|
|
||||
Plus effect of stock compensation
|
221,917
|
|
|
296,411
|
|
|
221,187
|
|
|
291,783
|
|
||||
Diluted weighted average shares outstanding
|
37,142,877
|
|
|
37,013,826
|
|
|
37,122,525
|
|
|
36,986,091
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Dividends declared per share
|
$
|
0.32
|
|
|
$
|
0.29
|
|
|
$
|
0.96
|
|
|
$
|
0.87
|
|
|
|
|
|
|
|
|
|
||||||||
(a) Includes excise taxes of:
|
$
|
270,023
|
|
|
$
|
238,306
|
|
|
$
|
833,750
|
|
|
$
|
751,389
|
|
|
Shares Outstanding
|
|
Common
Stock
|
|
Retained
Earnings
|
|
Shareholders' Equity
|
|||||||
Balance at April 30, 2019
|
36,664,521
|
|
|
$
|
15,600
|
|
|
$
|
1,393,169
|
|
|
$
|
1,408,769
|
|
Net income
|
—
|
|
|
—
|
|
|
85,815
|
|
|
85,815
|
|
|||
Dividends declared (32 cents per share)
|
—
|
|
|
—
|
|
|
(11,772
|
)
|
|
(11,772
|
)
|
|||
Exercise of stock options
|
50,931
|
|
|
2,261
|
|
|
—
|
|
|
2,261
|
|
|||
Share-based compensation
|
67,182
|
|
|
4,141
|
|
|
—
|
|
|
4,141
|
|
|||
Balance at July 31, 2019
|
36,782,634
|
|
|
22,002
|
|
|
1,467,212
|
|
|
1,489,214
|
|
|||
Net income
|
—
|
|
|
—
|
|
|
81,981
|
|
|
81,981
|
|
|||
Dividends declared (32 cents per share)
|
—
|
|
|
—
|
|
|
(11,773
|
)
|
|
(11,773
|
)
|
|||
Exercise of stock options
|
1,030
|
|
|
46
|
|
|
—
|
|
|
46
|
|
|||
Share-based compensation
|
7,984
|
|
|
2,380
|
|
|
—
|
|
|
2,380
|
|
|||
Balance at October 31, 2019
|
36,791,648
|
|
|
24,428
|
|
|
1,537,420
|
|
|
1,561,848
|
|
|||
Net income
|
—
|
|
|
—
|
|
|
33,959
|
|
|
33,959
|
|
|||
Dividends declared (32 cents per share)
|
—
|
|
|
—
|
|
|
(11,774
|
)
|
|
(11,774
|
)
|
|||
Exercise of stock options
|
1,925
|
|
|
85
|
|
|
—
|
|
|
85
|
|
|||
Share-based compensation
|
—
|
|
|
4,472
|
|
|
—
|
|
|
4,472
|
|
|||
Balance at January 31, 2020
|
36,793,573
|
|
|
$
|
28,985
|
|
|
$
|
1,559,605
|
|
|
$
|
1,588,590
|
|
|
Shares Outstanding
|
|
Common
Stock
|
|
Retained
Earnings
|
|
Shareholders' Equity
|
|||||||
April 30, 2018
|
36,874,322
|
|
|
$
|
—
|
|
|
$
|
1,271,141
|
|
|
$
|
1,271,141
|
|
Implementation of ASU 2014-09
|
—
|
|
|
—
|
|
|
(4,140
|
)
|
|
(4,140
|
)
|
|||
Net income
|
—
|
|
|
—
|
|
|
70,224
|
|
|
70,224
|
|
|||
Dividends declared (29 cents per share)
|
—
|
|
|
—
|
|
|
(10,601
|
)
|
|
(10,601
|
)
|
|||
Exercise of stock options
|
3,600
|
|
|
148
|
|
|
—
|
|
|
148
|
|
|||
Repurchase of common stock
|
(352,592
|
)
|
|
—
|
|
|
(35,247
|
)
|
|
(35,247
|
)
|
|||
Share-based compensation
|
67,895
|
|
|
7,174
|
|
|
—
|
|
|
7,174
|
|
|||
Balance at July 31, 2018
|
36,593,225
|
|
|
7,322
|
|
|
1,291,377
|
|
|
1,298,699
|
|
|||
Net income
|
—
|
|
|
—
|
|
|
66,615
|
|
|
66,615
|
|
|||
Dividends declared (29 cents per share)
|
—
|
|
|
—
|
|
|
(10,615
|
)
|
|
(10,615
|
)
|
|||
Exercise of stock options
|
7,692
|
|
|
231
|
|
|
—
|
|
|
231
|
|
|||
Share-based compensation
|
3,089
|
|
|
2,149
|
|
|
—
|
|
|
2,149
|
|
|||
Balance at October 31, 2018
|
36,604,006
|
|
|
9,702
|
|
|
1,347,377
|
|
|
1,357,079
|
|
|||
Net income
|
—
|
|
|
—
|
|
|
41,835
|
|
|
41,835
|
|
|||
Dividends declared (29 cents per share)
|
—
|
|
|
—
|
|
|
(10,623
|
)
|
|
(10,623
|
)
|
|||
Exercise of stock options
|
26,400
|
|
|
789
|
|
|
—
|
|
|
789
|
|
|||
Share-based compensation
|
261
|
|
|
1,788
|
|
|
—
|
|
|
1,788
|
|
|||
Balance at January 31, 2019
|
36,630,667
|
|
|
$
|
12,279
|
|
|
$
|
1,378,589
|
|
|
$
|
1,390,868
|
|
|
Nine months ended January 31,
|
||||||
|
2020
|
|
2019
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
$
|
201,755
|
|
|
$
|
178,674
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
||||
Depreciation and amortization
|
185,981
|
|
|
181,520
|
|
||
Share-based compensation
|
14,394
|
|
|
11,111
|
|
||
Loss on disposal of assets and impairment charges
|
2,115
|
|
|
1,159
|
|
||
Deferred income taxes
|
39,454
|
|
|
38,925
|
|
||
Changes in assets and liabilities:
|
|
|
|
||||
Receivables
|
(8,527
|
)
|
|
4,146
|
|
||
Inventories
|
10,207
|
|
|
(8,252
|
)
|
||
Prepaid expenses
|
(6,937
|
)
|
|
(3,986
|
)
|
||
Accounts payable
|
(53,534
|
)
|
|
(66,946
|
)
|
||
Accrued expenses
|
12,737
|
|
|
22,772
|
|
||
Income taxes
|
9,204
|
|
|
36,685
|
|
||
Other, net
|
(7,142
|
)
|
|
(18,052
|
)
|
||
Net cash provided by operating activities
|
399,707
|
|
|
377,756
|
|
||
Cash flows from investing activities:
|
|
|
|
||||
Purchase of property and equipment
|
(363,907
|
)
|
|
(311,165
|
)
|
||
Payments for acquisition of businesses, net of cash acquired
|
(12,644
|
)
|
|
(21,021
|
)
|
||
Proceeds from sales of property and equipment
|
3,813
|
|
|
4,159
|
|
||
Net cash used in investing activities
|
(372,738
|
)
|
|
(328,027
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Repayments of long-term debt
|
(9,329
|
)
|
|
(7,839
|
)
|
||
Net borrowings of short-term debt
|
1,000
|
|
|
10,400
|
|
||
Proceeds from exercise of stock options
|
2,392
|
|
|
1,168
|
|
||
Payments of cash dividends
|
(34,178
|
)
|
|
(30,808
|
)
|
||
Repurchase of common stock
|
—
|
|
|
(37,479
|
)
|
||
Tax withholdings on employee share-based awards
|
(6,611
|
)
|
|
(4,681
|
)
|
||
Net cash used in financing activities
|
(46,726
|
)
|
|
(69,239
|
)
|
Net decrease in cash and cash equivalents
|
(19,757
|
)
|
|
(19,510
|
)
|
||
Cash and cash equivalents at beginning of the period
|
63,296
|
|
|
53,679
|
|
||
Cash and cash equivalents at end of the period
|
$
|
43,539
|
|
|
$
|
34,169
|
|
|
Nine months ended January 31,
|
||||||
|
2020
|
|
2019
|
||||
Cash paid (received) during the period for:
|
|
|
|
||||
Interest, net of amount capitalized
|
$
|
33,636
|
|
|
$
|
33,354
|
|
Income taxes, net
|
10,800
|
|
|
(21,977
|
)
|
||
|
|
|
|
||||
Noncash investing and financing activities:
|
|
|
|
||||
Purchased property and equipment in accounts payable
|
9,813
|
|
|
2,172
|
|
||
Noncash additions from adoption of ASC 842
|
22,635
|
|
|
—
|
|
||
|
|
|
|
1.
|
Presentation of Financial Statements
|
2.
|
Basis of Presentation
|
3.
|
Revenue and Cost of Goods Sold
|
4.
|
Long-Term Debt and Finance Lease Obligations, Lines of Credit, and Fair Value Disclosure
|
5.
|
Compensation Related Costs and Share Based Payments
|
|
Number of
option shares
|
|
Weighted
average option
exercise price
|
|||
Outstanding at April 30, 2019
|
109,827
|
|
|
$
|
44.39
|
|
Granted
|
—
|
|
|
—
|
|
|
Exercised
|
53,886
|
|
|
44.39
|
|
|
Forfeited
|
—
|
|
|
—
|
|
|
Outstanding at January 31, 2020
|
55,941
|
|
|
$
|
44.39
|
|
|
|
|
Unvested at April 30, 2019
|
388,800
|
|
Granted
|
188,800
|
|
Vested
|
(108,484
|
)
|
Forfeited
|
(18,105
|
)
|
Performance Award Adjustments
|
18,552
|
|
Unvested at January 31, 2020
|
469,563
|
|
6.
|
Commitments and Contingencies
|
|
Classification
|
|
|
|
January 31, 2020
|
||
Finance lease right-of-use assets
|
Property and equipment
|
|
|
|
$
|
14,896
|
|
Operating lease right-of-use assets
|
Other assets
|
|
|
|
19,984
|
|
|
|
|
|
|
January 31, 2020
|
||
Weighted-average remaining lease-term - finance lease
|
|
|
|
10.9 years
|
|
||
Weighted-average remaining lease-term - operating lease
|
|
|
|
20.1 years
|
|
||
|
|
|
|
|
|
||
Weighted-average discount rate - finance lease
|
|
|
|
5.33
|
%
|
||
Weighted-average discount rate - operating lease
|
|
|
|
4.31
|
%
|
||
|
|
|
|
|
|
||
Right-of-use assets obtained in exchange for new finance lease liabilities (in thousands)
|
|
$
|
1,520
|
|
|||
Right-of-use assets obtained in exchange for new operating lease liabilities (in thousands)
|
|
1,037
|
|
Years ended January 31,
|
Finance
leases
|
|
Operating
leases
|
||||
2021
|
$
|
3,115
|
|
|
$
|
1,830
|
|
2022
|
3,110
|
|
|
1,791
|
|
||
2023
|
3,109
|
|
|
1,709
|
|
||
2024
|
2,897
|
|
|
1,634
|
|
||
2025
|
1,385
|
|
|
1,556
|
|
||
Thereafter
|
10,705
|
|
|
23,581
|
|
||
Total minimum lease payments
|
24,321
|
|
|
32,101
|
|
||
Less amount representing interest
|
6,979
|
|
|
11,745
|
|
||
Present value of net minimum lease payments
|
$
|
17,342
|
|
|
$
|
20,356
|
|
Years ended April 30,
|
Capital
leases
|
|
Operating
leases
|
||||
2020
|
$
|
3,103
|
|
|
$
|
1,703
|
|
2021
|
3,109
|
|
|
1,547
|
|
||
2022
|
3,096
|
|
|
1,354
|
|
||
2023
|
3,098
|
|
|
1,228
|
|
||
2024
|
2,548
|
|
|
1,066
|
|
||
Thereafter
|
9,215
|
|
|
10,438
|
|
||
Total minimum lease payments
|
24,169
|
|
|
$
|
17,336
|
|
|
Less amount representing interest
|
7,689
|
|
|
|
|||
Present value of net minimum lease payments
|
$
|
16,480
|
|
|
|
7.
|
Unrecognized Tax Benefits
|
8.
|
Segment Reporting
|
Item 2.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations (Dollars in Thousands).
|
|
Store Count
|
|
Total stores at April 30, 2019
|
2,146
|
|
New store construction
|
50
|
|
Acquisitions
|
10
|
|
Acquisitions not opened
|
(4
|
)
|
Prior acquisitions opened
|
3
|
|
Closed
|
(12
|
)
|
Total stores at January 31, 2020
|
2,193
|
|
Three Months Ended January 31, 2020
|
Fuel
|
|
Grocery &
Other
Merchandise
|
|
Prepared
Food &
Fountain
|
|
Other
|
|
Total
|
||||||||||
Revenue
|
$
|
1,376,018
|
|
|
$
|
582,407
|
|
|
$
|
273,630
|
|
|
$
|
16,143
|
|
|
$
|
2,248,198
|
|
Revenue less cost of goods sold (excluding depreciation and amortization)
|
$
|
124,257
|
|
|
$
|
191,692
|
|
|
$
|
164,795
|
|
|
$
|
16,119
|
|
|
$
|
496,863
|
|
|
9.0
|
%
|
|
32.9
|
%
|
|
60.2
|
%
|
|
99.9
|
%
|
|
22.1
|
%
|
|||||
Fuel gallons
|
572,746
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Three Months Ended January 31, 2019
|
Fuel
|
|
Grocery &
Other
Merchandise
|
|
Prepared
Food &
Fountain
|
|
Other
|
|
Total
|
||||||||||
Revenue
|
$
|
1,233,620
|
|
|
$
|
543,773
|
|
|
$
|
256,144
|
|
|
$
|
14,539
|
|
|
$
|
2,048,076
|
|
Revenue less cost of goods sold (excluding depreciation and amortization)
|
$
|
122,559
|
|
|
$
|
173,512
|
|
|
$
|
159,682
|
|
|
$
|
14,512
|
|
|
$
|
470,265
|
|
|
9.9
|
%
|
|
31.9
|
%
|
|
62.3
|
%
|
|
99.8
|
%
|
|
23.0
|
%
|
|||||
Fuel gallons
|
554,479
|
|
|
|
|
|
|
|
|
|
Nine Months Ended January 31, 2020
|
Fuel
|
|
Grocery &
Other Merchandise |
|
Prepared
Food & Fountain |
|
Other
|
|
Total
|
||||||||||
Revenue
|
4,518,061
|
|
|
1,930,886
|
|
|
867,353
|
|
|
46,113
|
|
|
7,362,413
|
|
|||||
Revenue less cost of goods sold (excluding depreciation and amortization)
|
416,045
|
|
|
627,278
|
|
|
530,259
|
|
|
46,032
|
|
|
1,619,614
|
|
|||||
|
9.2
|
%
|
|
32.5
|
%
|
|
61.1
|
%
|
|
99.8
|
%
|
|
22.0
|
%
|
|||||
Fuel gallons
|
1,805,901
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Nine Months Ended January 31, 2019
|
Fuel
|
|
Grocery &
Other Merchandise |
|
Prepared
Food & Fountain |
|
Other
|
|
Total
|
||||||||||
Revenue
|
$
|
4,502,904
|
|
|
$
|
1,806,822
|
|
|
$
|
820,208
|
|
|
$
|
44,579
|
|
|
$
|
7,174,513
|
|
Revenue less cost of goods sold (excluding depreciation and amortization)
|
$
|
364,691
|
|
|
$
|
582,629
|
|
|
$
|
510,540
|
|
|
$
|
44,494
|
|
|
$
|
1,502,354
|
|
|
8.1
|
%
|
|
32.2
|
%
|
|
62.2
|
%
|
|
99.8
|
%
|
|
20.9
|
%
|
|||||
Fuel gallons
|
1,750,024
|
|
|
|
|
|
|
Three months ended
|
|
Nine months ended
|
||||||||||
|
January 31, 2020
|
|
January 31, 2019
|
|
January 31, 2020
|
|
January 31, 2019
|
||||||
Net income
|
$
|
33,959
|
|
|
41,835
|
|
|
$
|
201,755
|
|
|
178,674
|
|
Interest, net
|
13,209
|
|
|
13,310
|
|
|
39,613
|
|
|
41,907
|
|
||
Federal and state income taxes
|
9,080
|
|
|
12,260
|
|
|
61,711
|
|
|
55,139
|
|
||
Depreciation and amortization
|
63,285
|
|
|
61,324
|
|
|
185,981
|
|
|
181,520
|
|
||
EBITDA
|
$
|
119,533
|
|
|
128,729
|
|
|
$
|
489,060
|
|
|
457,240
|
|
Loss on disposal of assets and impairment charges
|
858
|
|
|
29
|
|
|
2,115
|
|
|
1,159
|
|
||
Adjusted EBITDA
|
$
|
120,391
|
|
|
128,758
|
|
|
$
|
491,175
|
|
|
458,399
|
|
Period
|
Total Number of Shares Purchased
|
|
Average Price Paid Per Share
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
|
|
Maximum Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs
|
||||||
Third Quarter:
|
|
|
|
|
|
|
|
||||||
November 1 - November 30, 2019
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
300,000,000
|
|
December 1 - December 31, 2019
|
—
|
|
|
—
|
|
|
—
|
|
|
300,000,000
|
|
||
January 1 - January 31, 2020
|
—
|
|
|
—
|
|
|
—
|
|
|
300,000,000
|
|
||
Total
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
300,000,000
|
|
|
|
CASEY’S GENERAL STORES, INC.
|
|
|
|
Date: March 9, 2020
|
By:
|
/s/ William J. Walljasper
|
|
|
William J. Walljasper
|
|
Its:
|
Senior Vice President and
Chief Financial Officer
|
|
|
(Authorized Officer and Principal
Financial and Accounting Officer)
|
Vesting Date/Settlement Date:
|
For each Restricted Stock Unit, the date on which such unit becomes a Vested Unit in accordance with Section 4 or Section 7, below.
|
CASEY’S GENERAL STORES, INC.,
|
|
by
|
|
|
/s/ Darren M. Rebelez
|
|
Name: Darren M. Rebelez
|
|
Title: President & CEO
|
|
|
|
/s/ Thomas P. Brennan
|
|
NAME: Thomas P. Brennan
|
Vesting Dates/Settlement Dates:
|
For each Restricted Stock Unit, the dates on which such unit becomes a Vested Unit in accordance with Section 4 or Section 7, below.
|
CASEY’S GENERAL STORES, INC.,
|
|
by
|
|
|
/s/ Darren M. Rebelez
|
|
Name: Darren M. Rebelez
|
|
Title: President & CEO
|
|
|
|
/s/ Chad Frazell
|
|
NAME: Chad Frazell
|
|
|
|
Dated: March 9, 2020
|
|
/s/ Darren M. Rebelez
|
|
|
Darren M. Rebelez
|
|
|
President and Chief Executive Officer
|
|
|
|
Dated: March 9, 2020
|
|
/s/ William J. Walljasper
|
|
|
William J. Walljasper
|
|
|
Senior Vice President and
Chief Financial Officer
|
(1)
|
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
|
|
|
Dated: March 9, 2020
|
|
/s/ Darren M. Rebelez
|
|
|
Darren M. Rebelez
|
|
|
President and Chief Executive Officer
|
(1)
|
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
|
|
|
Dated: March 9, 2020
|
|
/s/ William J. Walljasper
|
|
|
William J. Walljasper
|
|
|
Senior Vice President and
Chief Financial Officer
|