CarParts.com, Inc. Adopts Tax Benefits Preservation Plan
TORRANCE, Calif., April 5, 2024 /PRNewswire/ -- CarParts.com, Inc. (the "Company") announced today that its Board of Directors has adopted a Tax Benefits Preservation Plan (the "Plan") intended to preserve the value of certain of the Company's tax attributes (the "Tax Attributes").
As of December 30, 2023, federal and state Tax Attributes were $105,224 and $84,780, respectively. However, these Tax Attributes may be materially reduced or eliminated by a "change of ownership" of the Company under Section 382 of the Internal Revenue Code (a "change of ownership"). In general, a
