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      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">UNITED STATES</div>

      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>

      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>

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      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">&#160;FORM <ix:nonNumeric name="dei:DocumentType" id="Fact_9b8267c37c8047aba5ebdeaf7264ff47" contextRef="c20220901to20220901">8-K</ix:nonNumeric></div>

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      </div>

      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">CURRENT REPORT</div>

      <div><br />
      </div>

      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</div>

      <div><br />
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      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">Date of Report (Date of earliest event reported): <ix:nonNumeric name="dei:DocumentPeriodEndDate" id="Fact_bf144c8c6e8b441e894e4378b802bc50" contextRef="c20220901to20220901" format="ixt:datemonthdayyearen">September 1, 2022</ix:nonNumeric></div>

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      <div><br />
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      <div style="text-align: center; margin-left: 1pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">(Exact name of registrant as specified in charter)</div>

      <div><br />
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    <td style="width: 38.22%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">(State or other jurisdiction</div>
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    <td style="width: 26.76%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">(Commission File Number)</div>
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    <td style="width: 35.02%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">(I.R.S. Employer Identification No.)</div>
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              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">of incorporation)</div>
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    <td style="width: 26.76%; vertical-align: bottom;">&#160;</td>

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    <td style="width: 38.22%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">(Address of principal executive offices)</div>
            </td>

    <td style="width: 26.76%; vertical-align: bottom;">&#160;</td>

    <td style="width: 35.02%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">(Zip Code)</div>
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  </tr>


</table>
      <div><br />
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      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;"><ix:nonNumeric name="dei:CityAreaCode" id="Fact_98ffa436261e41eea130a40a3a19a525" contextRef="c20220901to20220901">479</ix:nonNumeric>-<ix:nonNumeric name="dei:LocalPhoneNumber" id="Fact_206f1079da0c432d808f790ba329bad8" contextRef="c20220901to20220901">471-2500</ix:nonNumeric></div>

      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">(Registrant&#8217;s telephone number, including area code)</div>

      <div><br />
      </div>

      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">N/A</div>

      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(Former name or former address, if changed since last report)</div>

      <div><br />
      </div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Securities registered or to be registered pursuant to Section 12(b) of the Act:</div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br />
      </div>

      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">


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    <td style="width: 37.09%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Title of each class:</div>
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    <td style="width: 23.18%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Trading&#160;Symbol(s):</div>
            </td>

    <td style="width: 39.72%; vertical-align: bottom; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0) rgb(0, 0, 0) rgb(0, 0, 0) rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Name of each exchange on which registered:</div>
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  </tr>

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    <td style="width: 37.09%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
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    <td style="width: 39.72%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_d609d20320e54495a8e3587984d157f1" contextRef="c20220901to20220901" format="ixt-sec:exchnameen">The NASDAQ Stock Market LLC</ix:nonNumeric><br />
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              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(NASDAQ Global Select Market)</div>
            </td>

  </tr>


</table>
      <div><br />
      </div>

      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">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 (see General Instructions A.2. below):</div>

      <div><br />
      </div>

      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonNumeric name="dei:WrittenCommunications" id="Fact_f3737a3bb70c4d4ca3206cb03750f0bc" contextRef="c20220901to20220901" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric> Written communications pursuant to Rule
        425 under the Securities Act (17 CFR 230.425)</div>

      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonNumeric name="dei:SolicitingMaterial" id="Fact_0cf84635fc1b45dd91455cd869308861" contextRef="c20220901to20220901" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric> Soliciting material pursuant to Rule
        14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>

      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonNumeric name="dei:PreCommencementTenderOffer" id="Fact_6babbdaaafe649dab3cc553634e74435" contextRef="c20220901to20220901" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric> Pre-commencement communications pursuant
        to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>

      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" id="Fact_5b91d5a35deb47cdb8d6be5ba20179cc" contextRef="c20220901to20220901" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric> Pre-commencement communications pursuant
        to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>

      <div><br />
      </div>

      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;&#8201;230.405 of this
        chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>

      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Emerging growth company&#160; <ix:nonNumeric name="dei:EntityEmergingGrowthCompany" id="Fact_3981c44cdc3a4c4291a45899f42ffbc9" contextRef="c20220901to20220901" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric></div>

      <div><br />
      </div>

      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new
        or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#160;<span style="font-size: 10pt; font-family: 'Segoe UI Symbol', sans-serif;">&#9723;</span></div>

      <div><br />
      </div>

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        <div style="page-break-after:always;" class="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>

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      <div>
        <div style="text-align: justify; margin-top: 6pt; font-size: 12pt;">
          <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">Item 8.01 Other Events.</div>

        </div>

        <div style="text-align: justify; margin-top: 6pt; font-size: 12pt;">On August 3, 2022, USA Truck, Inc., a Delaware corporation (the &#8220;<span style="text-decoration: underline;">Company</span>&#8221;), filed its definitive proxy statement (the &#8220;<span style="text-decoration: underline;">Definitive Proxy Statement</span>&#8221;) with the U.S.
          Securities and Exchange Commission (the &#8220;<span style="text-decoration: underline;">SEC</span>&#8221;) relating to the special meeting of stockholders of the Company to be held virtually at https://www.cstproxy.com/usa-truck/sm2022, on September 12, 2022, at 11:00 a.m., Eastern Time, to, among
          other things, seek approval of the Agreement and Plan of Merger, by and among the Company, Schenker, Inc., a New York corporation (&#8220;<span style="text-decoration: underline;">Parent</span>&#8221;), and Tango Merger, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (&#8220;<span style="text-decoration: underline;">Merger




            Sub</span>&#8221;), pursuant to which among other things, and subject to the terms and conditions set forth therein, Merger Sub will be merged with and into the Company, with the Company surviving as a wholly owned subsidiary of Parent (the &#8220;<span style="text-decoration: underline;">Merger</span>&#8221;).</div>

        <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">
          <div style="text-align: justify; margin-top: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">As previously disclosed, following the announcement of the Merger, one complaint was filed in Federal court naming the Company and
            members of its board of directors as defendants. Subsequent to the filing of the Definitive Proxy Statement, one additional complaint has been filed. On August 18, 2022, a purported stockholder of the Company filed an action in the Southern
            District of New York. The Company also has received a total of six other challenges related to the merger, including the two draft complaints previously disclosed. The additional complaint and challenges assert claims and seek relief that is
            substantially similar to the claims asserted and relief sought in the previously disclosed Federal court complaint and draft complaints. In addition, three of the challenges allege inadequacy of disclosure regarding confidentiality agreements
            the Company entered into with interested third parties during the sales process.</div>

        </div>

        <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">While the Company believes that all of these complaints and challenges are without merit and that the disclosures set forth in both the preliminary proxy statement filed with the
          SEC on July 18, 2022 and the Definitive Proxy Statement comply fully with applicable law, in order to moot plaintiffs&#8217; unmeritorious claims, avoid nuisance and possible expense and delay, and provide additional information to our stockholders,
          the Company has determined to voluntarily supplement the Definitive Proxy Statement with the supplemental disclosure set forth below (the &#8220;<span style="text-decoration: underline;">Supplemental Disclosure</span>&#8221;). Nothing in the Supplemental Disclosure shall be deemed an admission of
          the legal necessity or materiality under applicable laws of any of the disclosures set forth herein or in the Definitive Proxy Statement. To the contrary, the Company specifically denies all allegations that any additional disclosure was or is
          required.</div>

        <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">Important information concerning the Merger is set forth in the Definitive Proxy Statement. The Definitive Proxy Statement is amended and supplemented by, and should be read as a
          part of, and in conjunction with, the information set forth in the Supplemental Disclosure.</div>

        <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">If you have any questions concerning the Merger, the Definitive Proxy Statement or this Supplemental Disclosure, would like additional copies or need help voting your shares of
          the Company&#8217;s common stock, please contact the Company&#8217;s proxy solicitor, MacKenzie Partners, Inc., as follows:</div>

        <div style="font-size: 12pt; text-align: justify;"> <br />
        </div>

        <div style="text-align: center; font-size: 12pt;">MacKenzie Partners, Inc.</div>

        <div style="text-align: center; font-size: 12pt;">1407 Broadway, 27th Floor</div>

        <div style="text-align: center; font-size: 12pt;">New York, New York 10018</div>

        <div style="text-align: center; font-size: 12pt;">(212) 929-5500 (Call Collect)</div>

        <div style="text-align: center; font-size: 12pt;">(800) 322-2885 (Toll Free)</div>

        <div style="text-align: center; font-size: 12pt;">proxy@mackenziepartners.com (E-Mail Address)</div>

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            <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>

        </div>

        <div style="text-align: center; font-size: 12pt; font-weight: bold;">SUPPLEMENTAL DISCLOSURE TO DEFINITIVE PROXY STATEMENT</div>

        <div><br />
        </div>

        <div style="text-align: justify; font-size: 12pt; font-style: italic;">The following supplemental information should be read in conjunction with the Definitive Proxy Statement, which should be read in its entirety. To the extent that information in
          this supplement differs from or updates information contained in the Definitive Proxy Statement, the information in this supplement shall supersede the information in the Definitive Proxy Statement. All page references are to pages of the
          Definitive Proxy Statement, and all terms used below, unless otherwise defined, shall have the meanings set forth in the Definitive Proxy Statement. New text within restated language from the Definitive Proxy Statement is highlighted with <span style="font-weight: bold;"><span style="text-decoration: underline;">bold, underlined text</span></span> and removed language within restated language from the Definitive Proxy Statement is indicated in <span style="text-decoration: line-through;">strikethrough text</span>.</div>

        <div><br />
        </div>

        <div style="text-align: justify; font-size: 12pt; font-weight: bold;">The Section of the Definitive Proxy Statement entitled &#8220;The Merger-Background of the Merger&#8221; is amended and supplemented as follows:</div>

        <div><br />
        </div>

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    <td style="width: 1.92%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt; font-style: italic;">1.</div>
              </td>

    <td style="width: 98.08%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt;"><span style="font-style: italic;">The following supplemental disclosure replaces in its entirety the third full paragraph on page 32 of the Definitive Proxy Statement:</span>&#160;</div>
              </td>

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</table>
        <div><br />
        </div>

        <div style="text-align: justify; font-size: 12pt;">On May 9 and May 10, 2022, representatives of Evercore, on behalf of the Company and consistent with the Board&#8217;s directives, began to reach out to potential financial buyers. 10 prospective
          financial bidders were contacted, including (1) a U.S.-based private equity firm (&#8220;Party B&#8221;), (2) a U.S.-based private equity firm (&#8220;Party C&#8221;), (3) a U.S.-based private equity firm (&#8220;Party D&#8221;), and (4) a U.S.-based private equity firm (&#8220;Party
          E&#8221;). Each of Party B, Party C, Party D, and Party E expressed interest and executed a confidentiality agreement to further facilitate discussions. Such confidentiality agreements included a prohibition on the counterparty contacting debt and
          equity financing sources without the Company&#8217;s prior approval, as well as a standstill provision, key elements of which (including a prohibition on making private acquisition proposals to the Company) <span style="font-weight: bold;"><span style="text-decoration: underline;">were
              subject to a fall-away provision that</span></span> would <span style="font-weight: bold;"><span style="text-decoration: underline;">cause them to</span></span> automatically expire in the event the Company were to enter into a definitive agreement relating to certain extraordinary
          transactions, including the transactions contemplated by the $32.00 Proposal. <span style="font-weight: bold;"><span style="text-decoration: underline;">Such confidentiality agreements did not contain &#8220;don&#8217;t ask, don&#8217;t waive&#8221; or similar provisions.</span></span> Following the execution
          of confidentiality agreements between May 13 and May 23, 2022, each of Party B, Party C, Party D, and Party E was provided a presentation containing information on the Company.</div>

        <div style="text-align: justify; font-size: 12pt;">&#160;</div>

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    <td style="width: 1.92%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt; font-style: italic;">2.</div>
              </td>

    <td style="width: 98.08%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt;"><span style="font-style: italic;">The following supplemental disclosure replaces in its entirety the second full paragraph on page 34 of the Definitive Proxy Statement:</span>&#160;</div>
              </td>

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        <div><br />
        </div>

        <div style="text-align: justify; font-size: 12pt;">On June 15, 2022, the Board met with members of the senior management team and representatives of Scudder and Evercore to discuss the Company&#8217;s five-year forecast. Members of the senior management
          team reviewed the Company&#8217;s year-to-date performance and <span style="text-decoration: line-through;">updates to</span> the Company&#8217;s five-year forecast<span style="font-weight: bold;"><span style="text-decoration: underline;">, which had been previously reviewed by the Transaction Committee on June 11, 2022</span></span>.
          Members of the senior management team reviewed for the Board the methodologies and assumptions used in preparation of the five-year forecast and confirmed that the methodologies used in the five-year forecast are consistent with the methodologies
          used in the Company&#8217;s previous five-year forecasts. Members of the senior management team confirmed that the five-year forecast was reasonably prepared and reflects management&#8217;s best currently available estimates, assumptions, and judgments.
          Following such discussion, the Board met in executive session without members of the senior management team, other than Mr. Reed, and without the representative from Evercore present. The Board discussed the Company&#8217;s five-year forecast and
          management&#8217;s assumptions and methodologies used in the preparation of the five-year forecast. Following such discussion, the Board unanimously approved the Company&#8217;s five-year forecast. A representative from Scudder reviewed the open issues with
          respect to the merger agreement. The Board continued to meet in executive session without Mr. Reed and further discussed the transaction process.&#160;</div>

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    <td style="width: 1.92%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt; font-style: italic;">3.</div>
              </td>

    <td style="width: 98.08%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt;"><span style="font-style: italic;">The following supplemental disclosure replaces in its entirety the fourth full paragraph on page 34 of the Definitive Proxy Statement:</span>&#160;</div>
              </td>

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        <div><br />
        </div>

        <div style="text-align: justify; font-size: 12pt;">On June 17, 2022, the Transaction Committee met with Mr. Reed and representatives from Scudder and Evercore to discuss the market check process and outstanding items with respect to the $32.00
          Proposal. A representative from Evercore reviewed the market check process, noting that there was no remaining interest from the prospective bidders contacted<span style="font-weight: bold;"><span style="text-decoration: underline;">, including from each of Party B, Party C, and Party
              E</span></span>. Following such discussion, the Board met without the representative from Evercore present. Mr. Reed discussed the status of the transaction communications. The Transaction Committee then met in executive session without Mr. Reed
          present. A representative from Scudder reviewed the outstanding items in the merger agreement with respect to the $32.00 Proposal.</div>

        <div><br />
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                <div style="text-align: justify; font-size: 12pt; font-style: italic;">4.</div>
              </td>

    <td style="width: 98.08%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt;"><span style="font-style: italic;">The following supplemental disclosure replaces in its entirety the first full paragraph on page 36 of the Definitive Proxy Statement:</span>&#160;</div>
              </td>

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</table>
        <div><br />
        </div>

        <div style="text-align: justify; font-size: 12pt;">On June 23, 2022, the Company and DBS executed and delivered the merger agreement and, prior to the open of trading in the Company&#8217;s stock on June 24, 2022, the Company issued a press release
          announcing the execution of the merger agreement with respect to the $31.72 Proposal, representing a 113.7% premium to the $14.58 price per share of the Company common stock as of the close of trading on June 23, 2022. At no time prior to the
          execution of the merger agreement were there any discussions between DBS and its representatives, on the one hand, and the Company&#8217;s directors or officers, on the other hand, regarding individual post-transaction employment or retention
          arrangements or directorships, and none of DBS&#8217;s proposals <span style="font-weight: bold;"><span style="text-decoration: underline;">or indications of interest, whether written or oral,</span></span> made proposals with respect to management employment or retention following the merger
          or the purchase of or participation in the equity of the surviving corporation or its affiliates following the merger.</div>

        <div><br />
        </div>

        <div style="text-align: justify; font-size: 12pt; font-weight: bold;">The Section of the Definitive Proxy Statement entitled &#8220;The Merger &#8211; Opinion of Evercore Group L.L.C.&#8221; is amended and supplemented as follows:</div>

        <div><br />
        </div>

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                <div style="text-align: justify; font-size: 12pt; font-style: italic;">5.</div>
              </td>

    <td style="width: 98.08%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt;"><span style="font-style: italic;">The following supplemental disclosure is added after the third full paragraph on page 43 of the Definitive Proxy Statement:</span>&#160;</div>
              </td>

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        <div style="text-align: justify; margin-top: 18pt; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">Up to and including the time period in which Evercore prepared and delivered its written opinion to the Board, the Evercore representatives confirmed that
            Evercore had no conflicts that would adversely affect its ability to provide a fairness opinion to the Board.</span></div>

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        </div>

        <div style="font-size: 12pt; font-weight: bold; text-align: justify;">The Section of the Definitive Proxy Statement entitled &#8220;The Merger &#8211; Opinion of Evercore Group L.L.C. &#8211; Summary of Evercore&#8217;s Financial Analyses &#8211; <span style="font-style: italic;">Discounted Cash Flow Analysis</span>&#8221; is amended and supplemented as follows:</div>

        <div style="text-align: justify; font-size: 12pt;">&#160;</div>

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    <td style="width: 1.92%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt; font-style: italic;">6.</div>
              </td>

    <td style="width: 98.08%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt;"><span style="font-style: italic;">The following supplemental disclosure replaces in its entirety the full paragraph beginning on page 45 and ending on page 46 of the Definitive Proxy
                    Statement:</span>&#160;</div>
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        <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">Evercore performed a discounted cash flow analysis of the Company to calculate the estimated present value of the standalone unlevered, after-tax free cash flows that the Company
          was forecasted to generate during the second half of the Company&#8217;s fiscal year 2022 and the Company&#8217;s fiscal years 2023 through 2026 based on financial projections prepared by the Company&#8217;s management and set forth in the section entitled
          &#8220;Financial Projections&#8221;.&#160; Evercore calculated terminal values of the Company by applying (i) a range of perpetuity growth rates of 3.5% to 4.5%<span style="font-weight: bold;"><span style="text-decoration: underline;">, which range was selected based on Evercore&#8217;s professional
              judgment and experience,</span></span> and (ii) a range of estimated EBITDA exit multiples of 3.75x to 4.75x, which <span style="text-decoration: line-through;">were each</span>&#160;<span style="font-weight: bold;"><span style="text-decoration: underline;">range was</span></span> selected based on Evercore&#8217;s professional
          judgment and experience, to a terminal year estimate of the unlevered, after-tax free cash flows that the Company was forecasted to generate <span style="font-weight: bold;"><span style="text-decoration: underline;">equal to $45 million</span></span> based on management&#8217;s financial
          projections.&#160; <span style="font-weight: bold;"><span style="text-decoration: underline;">Evercore calculated a range of terminal values with a midpoint of $494 million based on a 4.0% midpoint perpetuity growth rate, and a range of terminal values with a midpoint of $651 million
              based on a 4.25x midpoint EBITDA exit multiple.</span></span> The unlevered cash flows and terminal values in each case were then discounted to present value as of June 30, 2022 using discount rates ranging from 12.5% to 14.5%, which were based
          on an estimate of the Company&#8217;s weighted average cost of capital, based on the mid-year cash flow discounting convention.&#160; <span style="font-weight: bold;"><span style="text-decoration: underline;">Evercore estimated the Company&#8217;s weighted average cost of capital based on application
              of the Capital Asset Pricing Model and its professional judgment and experience given the nature of the Company&#8217;s business and industry.</span></span>&#160; Based on this range of implied enterprise values, after adjusting for cash of <span style="font-weight: bold;"><span style="text-decoration: underline;">$12 million</span></span>, debt <span style="font-weight: bold;"><span style="text-decoration: underline;">of $74 million</span></span> and finance lease obligations <span style="font-weight: bold;"><span style="text-decoration: underline;">of $87 million, in each case</span></span> as of March 31,
          2022, and <span style="text-decoration: line-through;">the number of</span>&#160;<span style="font-weight: bold;"><span style="text-decoration: underline;">9.036 million</span></span> fully diluted shares of Company common stock as of June 22, 2022, in each case as provided by the Company&#8217;s management, (i) the discounted cash
          flow analysis utilizing the perpetuity growth rate methodology to calculate the terminal value indicated a range of implied equity values per share of Company common stock of $18.95 to $32.60 and (ii) the discounted cash flow analysis utilizing
          the EBITDA exit multiple methodology to calculate the terminal value indicated a range of implied equity values per share of Company common stock of $26.10 to $39.15, compared to the merger consideration of $31.72 per share of Company common
          stock.</div>

        <div><br />
        </div>

        <div style="text-align: justify; font-size: 12pt; font-weight: bold;">The Section of the Definitive Proxy Statement entitled &#8220;The Merger &#8211; Opinion of Evercore Group L.L.C. &#8211; Summary of Evercore&#8217;s Financial Analyses &#8211; <span style="font-style: italic;">Selected Public Company Trading Multiples Analysis</span>&#8221; is amended and supplemented as follows:</div>

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                <div style="text-align: justify; font-size: 12pt; font-style: italic;">7.</div>
              </td>

    <td style="width: 98.08%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt;"><span style="font-style: italic;">The following supplemental disclosure is added before the &#8220;Benchmark&#8221; table on page 48 of the Definitive Proxy Statement:</span>&#160;</div>
              </td>

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        <div style="margin-top: 6pt;"><br />
        </div>

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                <div style="font-weight: bold;"><span style="text-decoration: underline;">Company</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-weight: bold;"><span style="text-decoration: underline;">Enterprise </span></div>
                <div style="text-align: center; font-weight: bold;"><span style="text-decoration: underline;">Value / 2022E </span></div>
                <div style="text-align: center; font-weight: bold;"><span style="text-decoration: underline;">EBITDA</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-weight: bold;"><span style="text-decoration: underline;">Enterprise </span></div>
                <div style="text-align: center; font-weight: bold;"><span style="text-decoration: underline;">Value / 2023E </span></div>
                <div style="text-align: center; font-weight: bold;"><span style="text-decoration: underline;">EBITDA</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-weight: bold;"><span style="text-decoration: underline;">Price / 2022E </span></div>
                <div style="text-align: center; font-weight: bold;"><span style="text-decoration: underline;">EPS</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-weight: bold;"><span style="text-decoration: underline;">Price / 2023E <br />
                    EPS</span></div>
              </td>

  </tr>

  <tr>

    <td style="width: 47.06%; vertical-align: top;">
                <div style="margin-left: 7.2pt; font-size: 12pt; font-style: italic; font-weight: bold;"><span style="text-decoration: underline;">Small Cap Peer Companies</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">&#160;</td>

    <td style="width: 13.24%; vertical-align: bottom;">&#160;</td>

    <td style="width: 13.24%; vertical-align: top;">&#160;</td>

    <td style="width: 13.24%; vertical-align: top;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 47.06%; vertical-align: top;">
                <div style="margin-left: 7.2pt; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">U.S. Xpress Enterprises, Inc.</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">4.9x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">4.1x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">8.4x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">8.4x</span></div>
              </td>

  </tr>

  <tr>

    <td style="width: 47.06%; vertical-align: top;">
                <div style="margin-left: 7.2pt; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">P.A.M. Transportation Services, Inc.</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">3.8x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">4.1x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">5.8x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">7.1x</span></div>
              </td>

  </tr>

  <tr>

    <td style="width: 47.06%; vertical-align: top;">
                <div style="margin-left: 7.2pt; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">Covenant Logistics Group, Inc.</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">2.8x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">3.3x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">5.0x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">7.1x</span></div>
              </td>

  </tr>

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    <td style="width: 47.06%; vertical-align: top;">
                <div style="margin-left: 7.2pt; font-size: 12pt; font-style: italic; font-weight: bold;"><span style="text-decoration: underline;"><br />
                    Large Cap Peer Companies</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom; text-align: center;"><span style="text-decoration: underline;">&#160;</span></td>

    <td style="width: 13.24%; vertical-align: bottom; text-align: center;"><span style="text-decoration: underline;">&#160;</span></td>

    <td style="width: 13.24%; vertical-align: top; text-align: center;"><span style="text-decoration: underline;">&#160;</span></td>

    <td style="width: 13.24%; vertical-align: top; text-align: center;"><span style="text-decoration: underline;">&#160;</span></td>

  </tr>

  <tr>

    <td style="width: 47.06%; vertical-align: top;">
                <div style="margin-left: 7.2pt; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">Marten Transport, Ltd.</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">5.1x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">5.0x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">12.6x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">12.5x</span></div>
              </td>

  </tr>

  <tr>

    <td style="width: 47.06%; vertical-align: top;">
                <div style="margin-left: 7.2pt; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">Knight-Swift Transportation Holdings Inc.</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">4.8x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">5.2x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">8.3x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">9.4x</span></div>
              </td>

  </tr>

  <tr>

    <td style="width: 47.06%; vertical-align: top;">
                <div style="margin-left: 7.2pt; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">Heartland Express, Inc.</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">4.6x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">4.6x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">14.2x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">15.9x</span></div>
              </td>

  </tr>

  <tr>

    <td style="width: 47.06%; vertical-align: top;">
                <div style="margin-left: 7.2pt; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">Werner Enterprises, Inc.</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">4.4x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">4.5x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">9.3x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">10.0x</span></div>
              </td>

  </tr>

  <tr>

    <td style="width: 47.06%; vertical-align: top;">
                <div style="margin-left: 7.2pt; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">Schneider National, Inc.</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">3.9x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">4.1x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">8.3x</span></div>
              </td>

    <td style="width: 13.24%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">9.2x</span></div>
              </td>

  </tr>


</table>
        <div style="margin-top: 6pt;"><br />
        </div>

        <div style="text-align: justify; font-size: 12pt; font-weight: bold;">The Section of the Definitive Proxy Statement entitled &#8220;The Merger &#8211; Opinion of Evercore Group L.L.C. &#8211; Summary of Evercore&#8217;s Financial Analyses &#8211; <span style="font-style: italic;">Equity Research Analyst Price Targets</span>&#8221; is amended and supplemented as follows:</div>

        <div style="text-align: justify; font-size: 12pt;">&#160;</div>

        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">


  <tr>

    <td style="width: 1.92%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt; font-style: italic;">8.</div>
              </td>

    <td style="width: 98.08%; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt;"><span style="font-style: italic;">The following supplemental disclosure replaces in its entirety the second full paragraph on page 50 of the Definitive Proxy Statement:</span>&#160;</div>
              </td>

  </tr>


</table>
        <div style="margin-top: 6pt;"><br />
        </div>

        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">Evercore reviewed selected public market trading price targets for the shares of Company common stock prepared and published by equity research analysts that
          were publicly available as of June&#160;22, 2022.&#160; These price targets reflect analysts&#8217; estimates of the future public market trading price of the shares of Company common stock at the time the price target was published. <span style="font-weight: bold;"><span style="text-decoration: underline;">The selected public market trading price targets that were publicly available as of June 22, 2022 were as follows:</span></span></div>

        <table cellspacing="0" cellpadding="0" border="0" style="width: 50%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; margin-left: auto; margin-right: auto;">


  <tr>

    <td style="width: 54.31%; vertical-align: bottom;">
                <div style="text-align: center; font-weight: bold;"><span style="text-decoration: underline;">Firm</span></div>
              </td>

    <td style="width: 45.69%; vertical-align: bottom;">
                <div style="text-align: center; font-weight: bold;"><span style="text-decoration: underline;">Price Target</span></div>
              </td>

  </tr>

  <tr>

    <td style="width: 54.31%; vertical-align: top;">
                <div style="text-align: center; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">Stephens</span></div>
              </td>

    <td style="width: 45.69%; vertical-align: bottom;">
                <div style="text-align: center; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">$27.00</span></div>
              </td>

  </tr>

  <tr>

    <td style="width: 54.31%; vertical-align: top;">
                <div style="text-align: center; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">Cowen &amp; Company</span></div>
              </td>

    <td style="width: 45.69%; vertical-align: bottom;">
                <div style="text-align: center; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">$24.00</span></div>
              </td>

  </tr>

  <tr>

    <td style="width: 54.31%; vertical-align: top;">
                <div style="text-align: center; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">Singular Research</span></div>
              </td>

    <td style="width: 45.69%; vertical-align: bottom;">
                <div style="text-align: center; font-size: 12pt; font-weight: bold;"><span style="text-decoration: underline;">$39.00</span></div>
              </td>

  </tr>


</table>
      </div>

      <div>
        <div><br />
        </div>

        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The range of selected equity research analyst price targets per share of Company common stock was $24.00 to $39.00 as of June&#160;22, 2022.&#160; Public market
          trading price targets published by equity research analysts are generally twelve-month price targets and hence do not necessarily reflect current market trading prices for the shares of Company common stock and these target prices and the
          analysts&#8217; earnings estimates on which they were based are subject to risk and uncertainties, including factors affecting the financial performance of the Company and future general industry and market conditions.</div>

        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
          <div style="page-break-after: always;" class="DSPFPageBreak">
            <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>

        </div>

        <div style="text-align: center; margin-top: 12pt; font-size: 12pt; font-weight: bold;">END OF SUPPLEMENT TO THE DEFINITIVE PROXY STATEMENT</div>

        <div style="text-align: justify; margin-top: 12pt; font-size: 12pt; font-weight: bold;">Additional Information About the Merger and Where to Find It</div>

        <div style="text-align: justify; margin-top: 6pt; font-size: 12pt;">This communication is being made in respect of the proposed transaction involving the Company, Parent, and Merger Sub. A special meeting of the stockholders of the Company will be
          held on September 12, 2022, at 11:00 a.m., Eastern Time, to seek stockholder approval in connection with the Merger. The Company has filed with the SEC a preliminary proxy statement, the Definitive Proxy Statement and other relevant documents in
          connection with the Merger. The Definitive Proxy Statement was first mailed to the stockholders of the Company on August 3, 2022 and contains important information about the proposed transaction and related matters. INVESTORS AND STOCKHOLDERS OF
          THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, PARENT, MERGER SUB, AND THE MERGER. Investors may obtain a
          free copy of these materials and other documents filed by the Company with the SEC at the SEC&#8217;s website at www.sec.gov, at the Company&#8217;s website at www.usa-truck.com or by sending a written request USA Truck, Inc., 3200 Industrial Park Road, Van
          Buren, Arkansas 72956.</div>

        <div style="text-align: justify; margin-top: 18pt; font-size: 12pt; font-weight: bold;">Participants in the Solicitation</div>

        <div style="text-align: justify; margin-top: 6pt; font-size: 12pt;">The Company and its directors, executive officers and certain other members of management and team members may be deemed to be participants in soliciting proxies from its
          stockholders in connection with the Merger. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of the Company&#8217;s stockholders in connection with the Merger is set forth in
          the Definitive Proxy Statement. Additional information regarding these individuals and any direct or indirect interests they may have in the Merger is set forth in the Definitive Proxy Statement. Forward Looking Statements information relating to
          the foregoing can also be found in the Definitive Proxy Statement. To the extent that holdings of the Company&#8217;s securities have changed since the amounts set forth in the Definitive Proxy Statement, such changes have been or will be reflected on
          Statements of Change in Ownership on Form 4 filed with the SEC.</div>

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            <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>

        </div>

        <div style="text-align: justify; margin-top: 18pt; font-size: 12pt; font-weight: bold;">Forward Looking Statements</div>

        <div style="text-align: justify; margin-top: 12pt; font-size: 12pt; font-style: italic;">Statements included in this Supplemental Disclosure that are not historical in nature are &#8220;forward-looking statements&#8221; as defined in the Private Securities
          Litigation Reform Act of 1995, including statements relating to the completion of the Merger. These forward-looking statements are generally denoted by the use of words such as &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;aim,&#8221; &#8220;target,&#8221; &#8220;plan,&#8221;
          &#8220;continue,&#8221; &#8220;estimate,&#8221; &#8220;project,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; and similar expressions. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. These statements reflect management&#8217;s current
          beliefs and are based on information currently available to management. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to known
          and unknown risks and uncertainties and other factors that could cause actual results to differ materially from historical results or those anticipated. Accordingly, no assurances can be given that any of the events anticipated by the
          forward-looking statements will occur or if any occur, what effect they will have on our results of operations or financial condition. These factors include, but are not limited to:</div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">the satisfaction of the conditions precedent to the consummation of the Merger, including, without limitation, the timely receipt of stockholder and regulatory approvals (or any conditions, limitations or restrictions placed on such
            approvals);</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">uncertainties as to the timing of the Merger and the possibility that the Merger may not be completed;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">unanticipated difficulties or expenditures relating to the Merger;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including, in circumstances which would require the Company to pay the Company termination fee;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">legal proceedings, judgments or settlements, including those that may be instituted against the Company, the Board, the Company&#8217;s executive officers and others following the announcement of the Merger;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">disruptions of current plans and operations caused by the announcement and pendency of the Merger;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">risks related to disruption of management&#8217;s attention from the Company&#8217;s ongoing business operations due to the Merger;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">potential difficulties in employee retention due to the announcement and pendency of the Merger;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">the response of customers, suppliers, drivers and regulators to the announcement and pendency of the Merger;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">disruptions in the execution of plans, strategies, goals and objectives of management for future operations caused by the Merger;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">changes in accounting standards or tax rates, laws or regulations;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">continued and sufficient access to capital;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">economic, market, business or geopolitical conditions (including resulting from the COVID-19 pandemic, inflation, or the conflict in Ukraine and related sanctions) or competition, or changes in such conditions, negatively affecting the
            Company&#8217;s business, operations and financial performance;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">the fact that receipt of the all-cash per share price will be taxable to our stockholders that are U.S. taxpayers and may be taxable to our stockholders that are taxpayers in foreign jurisdictions;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">risks that the price of the Company common stock price may decline significantly if the Merger is not completed;</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">the possibility that the Company could, following the Merger, engage in operational or other changes that could result in meaningful appreciation in its value; and</span></div>

        <div style="text-align: justify; margin-top: 12pt;"><span style="font-size: 12pt; font-style: italic;">&#8226;</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</span><span style="font-size: 12pt; font-style: italic;">the possibility that the Company could, at a later date, engage in unspecified transactions, including restructuring efforts, special dividends or the sale of some or all of the Company&#8217;s assets to one or more as yet unknown
            purchasers, which could conceivably produce a higher aggregate value than that available to our stockholders in the Merger.</span></div>

        <div style="text-align: justify; margin-top: 12pt; font-size: 12pt; font-style: italic;">For additional information, see the section of the Definitive Proxy Statement entitled &#8220;The Merger&#8212;Forward-Looking Financial Information,&#8221; beginning on page 40
          of the Definitive Proxy Statement. The Company can give no assurance that the expectations expressed or implied in the forward-looking statements contained herein will be attained. The forward-looking statements are made as of the date hereof and
          the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on
          any forward-looking statements made in this Supplemental Disclosure, which speak only as of the date hereof.</div>

      </div>

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      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">SIGNATURE</div>

      <div><br />
      </div>

      <div style="text-align: justify; text-indent: 18pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">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.</div>

      <div><br />
      </div>

      <div><br />
      </div>

      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">


  <tr>

    <td style="width: 5.57%; vertical-align: bottom;">&#160;</td>

    <td style="width: 39.88%; vertical-align: bottom;">&#160;</td>

    <td style="width: 3.7%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">&#160;&#160;&#160;&#160;</div>
            </td>

    <td style="width: 50.85%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><span style="text-decoration: underline;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">USA Truck, Inc</span><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;">.</span></span></div>
            </td>

  </tr>

  <tr>

    <td style="width: 5.57%; vertical-align: bottom;">&#160;</td>

    <td style="width: 39.88%; vertical-align: bottom;">&#160;</td>

    <td style="width: 3.7%; vertical-align: top;">&#160;</td>

    <td style="width: 50.85%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-style: italic;">(Registrant)</div>
            </td>

  </tr>

  <tr>

    <td style="width: 5.57%; vertical-align: bottom;">&#160;</td>

    <td style="width: 39.88%; vertical-align: bottom;">&#160;</td>

    <td style="width: 3.7%; vertical-align: top;">&#160;</td>

    <td style="width: 50.85%; vertical-align: bottom;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 5.57%; vertical-align: bottom; padding-bottom: 1px;">
              <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Date:</div>
            </td>

    <td style="width: 39.88%; vertical-align: bottom; padding-bottom: 1px;">
              <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">&#160;September 1, 2022</div>
            </td>

    <td style="width: 3.7%; vertical-align: top; padding-bottom: 1px;">&#160;</td>

    <td style="width: 50.85%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">/s/ Zachary B. King</div>
            </td>

  </tr>

  <tr>

    <td style="width: 5.57%; vertical-align: bottom;">&#160;</td>

    <td style="width: 39.88%; vertical-align: bottom;">&#160;</td>

    <td style="width: 3.7%; vertical-align: top;">&#160;</td>

    <td style="width: 50.85%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">Zachary B. King</div>
            </td>

  </tr>

  <tr>

    <td style="width: 5.57%; vertical-align: bottom;">&#160;</td>

    <td style="width: 39.88%; vertical-align: bottom;">&#160;</td>

    <td style="width: 3.7%; vertical-align: top;">&#160;</td>

    <td style="width: 50.85%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-style: italic;">Executive Vice President and Chief Financial Officer</div>
            </td>

  </tr>


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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):
September 1, 2022
USA TRUCK INC.
(Exact name of registrant as specified in charter)
Delaware
1-35740
71-0556971
(State or other jurisdiction
(Commission File Number)
(I.R.S. Employer Identification No.)
of incorporation)
3200 Industrial Park Road
Van Buren
,
Arkansas
72956
(Address of principal executive offices)
(Zip Code)
479
-
471-2500
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of each class:
Trading Symbol(s):
Name of each exchange on which registered:
Common Stock, $0.01 Par Value
USAK
The NASDAQ Stock Market LLC
(NASDAQ Global Select Market)
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 (see General Instructions A.2. below):
☐
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))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this
        chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new
        or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
◻
Item 8.01 Other Events.
On August 3, 2022, USA Truck, Inc., a Delaware corporation (the "
Company
"), filed its definitive proxy statement (the "
Definitive Proxy Statement
") with the U.S.
          Securities and Exchange Commission (the "
SEC
") relating to the special meeting of stockholders of the Company to be held virtually at https://www.cstproxy.com/usa-truck/sm2022, on September 12, 2022, at 11:00 a.m., Eastern Time, to, among
          other things, seek approval of the Agreement and Plan of Merger, by and among the Company, Schenker, Inc., a New York corporation ("
Parent
"), and Tango Merger, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("
Merger

            Sub
"), pursuant to which among other things, and subject to the terms and conditions set forth therein, Merger Sub will be merged with and into the Company, with the Company surviving as a wholly owned subsidiary of Parent (the "
Merger
").
As previously disclosed, following the announcement of the Merger, one complaint was filed in Federal court naming the Company and
            members of its board of directors as defendants. Subsequent to the filing of the Definitive Proxy Statement, one additional complaint has been filed. On August 18, 2022, a purported stockholder of the Company filed an action in the Southern
            District of New York. The Company also has received a total of six other challenges related to the merger, including the two draft complaints previously disclosed. The additional complaint and challenges assert claims and seek relief that is
            substantially similar to the claims asserted and relief sought in the previously disclosed Federal court complaint and draft complaints. In addition, three of the challenges allege inadequacy of disclosure regarding confidentiality agreements
            the Company entered into with interested third parties during the sales process.
While the Company believes that all of these complaints and challenges are without merit and that the disclosures set forth in both the preliminary proxy statement filed with the
          SEC on July 18, 2022 and the Definitive Proxy Statement comply fully with applicable law, in order to moot plaintiffs' unmeritorious claims, avoid nuisance and possible expense and delay, and provide additional information to our stockholders,
          the Company has determined to voluntarily supplement the Definitive Proxy Statement with the supplemental disclosure set forth below (the "
Supplemental Disclosure
"). Nothing in the Supplemental Disclosure shall be deemed an admission of
          the legal necessity or materiality under applicable laws of any of the disclosures set forth herein or in the Definitive Proxy Statement. To the contrary, the Company specifically denies all allegations that any additional disclosure was or is
          required.
Important information concerning the Merger is set forth in the Definitive Proxy Statement. The Definitive Proxy Statement is amended and supplemented by, and should be read as a
          part of, and in conjunction with, the information set forth in the Supplemental Disclosure.
If you have any questions concerning the Merger, the Definitive Proxy Statement or this Supplemental Disclosure, would like additional copies or need help voting your shares of
          the Company's common stock, please contact the Company's proxy solicitor, MacKenzie Partners, Inc., as follows:
MacKenzie Partners, Inc.
1407 Broadway, 27th Floor
New York, New York 10018
(212) 929-5500 (Call Collect)
(800) 322-2885 (Toll Free)
proxy@mackenziepartners.com (E-Mail Address)
SUPPLEMENTAL DISCLOSURE TO DEFINITIVE PROXY STATEMENT
The following supplemental information should be read in conjunction with the Definitive Proxy Statement, which should be read in its entirety. To the extent that information in
          this supplement differs from or updates information contained in the Definitive Proxy Statement, the information in this supplement shall supersede the information in the Definitive Proxy Statement. All page references are to pages of the
          Definitive Proxy Statement, and all terms used below, unless otherwise defined, shall have the meanings set forth in the Definitive Proxy Statement. New text within restated language from the Definitive Proxy Statement is highlighted with
bold, underlined text
and removed language within restated language from the Definitive Proxy Statement is indicated in
strikethrough text
.
The Section of the Definitive Proxy Statement entitled "The Merger-Background of the Merger" is amended and supplemented as follows:
1.
The following supplemental disclosure replaces in its entirety the third full paragraph on page 32 of the Definitive Proxy Statement:
On May 9 and May 10, 2022, representatives of Evercore, on behalf of the Company and consistent with the Board's directives, began to reach out to potential financial buyers. 10 prospective
          financial bidders were contacted, including (1) a U.S.-based private equity firm ("Party B"), (2) a U.S.-based private equity firm ("Party C"), (3) a U.S.-based private equity firm ("Party D"), and (4) a U.S.-based private equity firm ("Party
          E"). Each of Party B, Party C, Party D, and Party E expressed interest and executed a confidentiality agreement to further facilitate discussions. Such confidentiality agreements included a prohibition on the counterparty contacting debt and
          equity financing sources without the Company's prior approval, as well as a standstill provision, key elements of which (including a prohibition on making private acquisition proposals to the Company)
were
              subject to a fall-away provision that
would
cause them to
automatically expire in the event the Company were to enter into a definitive agreement relating to certain extraordinary
          transactions, including the transactions contemplated by the $32.00 Proposal.
Such confidentiality agreements did not contain "don't ask, don't waive" or similar provisions.
Following the execution
          of confidentiality agreements between May 13 and May 23, 2022, each of Party B, Party C, Party D, and Party E was provided a presentation containing information on the Company.
2.
The following supplemental disclosure replaces in its entirety the second full paragraph on page 34 of the Definitive Proxy Statement:
On June 15, 2022, the Board met with members of the senior management team and representatives of Scudder and Evercore to discuss the Company's five-year forecast. Members of the senior management
          team reviewed the Company's year-to-date performance and
updates to
the Company's five-year forecast
, which had been previously reviewed by the Transaction Committee on June 11, 2022
.
          Members of the senior management team reviewed for the Board the methodologies and assumptions used in preparation of the five-year forecast and confirmed that the methodologies used in the five-year forecast are consistent with the methodologies
          used in the Company's previous five-year forecasts. Members of the senior management team confirmed that the five-year forecast was reasonably prepared and reflects management's best currently available estimates, assumptions, and judgments.
          Following such discussion, the Board met in executive session without members of the senior management team, other than Mr. Reed, and without the representative from Evercore present. The Board discussed the Company's five-year forecast and
          management's assumptions and methodologies used in the preparation of the five-year forecast. Following such discussion, the Board unanimously approved the Company's five-year forecast. A representative from Scudder reviewed the open issues with
          respect to the merger agreement. The Board continued to meet in executive session without Mr. Reed and further discussed the transaction process.
3.
The following supplemental disclosure replaces in its entirety the fourth full paragraph on page 34 of the Definitive Proxy Statement:
On June 17, 2022, the Transaction Committee met with Mr. Reed and representatives from Scudder and Evercore to discuss the market check process and outstanding items with respect to the $32.00
          Proposal. A representative from Evercore reviewed the market check process, noting that there was no remaining interest from the prospective bidders contacted
, including from each of Party B, Party C, and Party
              E
. Following such discussion, the Board met without the representative from Evercore present. Mr. Reed discussed the status of the transaction communications. The Transaction Committee then met in executive session without Mr. Reed
          present. A representative from Scudder reviewed the outstanding items in the merger agreement with respect to the $32.00 Proposal.
4.
The following supplemental disclosure replaces in its entirety the first full paragraph on page 36 of the Definitive Proxy Statement:
On June 23, 2022, the Company and DBS executed and delivered the merger agreement and, prior to the open of trading in the Company's stock on June 24, 2022, the Company issued a press release
          announcing the execution of the merger agreement with respect to the $31.72 Proposal, representing a 113.7% premium to the $14.58 price per share of the Company common stock as of the close of trading on June 23, 2022. At no time prior to the
          execution of the merger agreement were there any discussions between DBS and its representatives, on the one hand, and the Company's directors or officers, on the other hand, regarding individual post-transaction employment or retention
          arrangements or directorships, and none of DBS's proposals
or indications of interest, whether written or oral,
made proposals with respect to management employment or retention following the merger
          or the purchase of or participation in the equity of the surviving corporation or its affiliates following the merger.
The Section of the Definitive Proxy Statement entitled "The Merger – Opinion of Evercore Group L.L.C." is amended and supplemented as follows:
5.
The following supplemental disclosure is added after the third full paragraph on page 43 of the Definitive Proxy Statement:
Up to and including the time period in which Evercore prepared and delivered its written opinion to the Board, the Evercore representatives confirmed that
            Evercore had no conflicts that would adversely affect its ability to provide a fairness opinion to the Board.
The Section of the Definitive Proxy Statement entitled "The Merger – Opinion of Evercore Group L.L.C. – Summary of Evercore's Financial Analyses –
Discounted Cash Flow Analysis
" is amended and supplemented as follows:
6.
The following supplemental disclosure replaces in its entirety the full paragraph beginning on page 45 and ending on page 46 of the Definitive Proxy
                    Statement:
Evercore performed a discounted cash flow analysis of the Company to calculate the estimated present value of the standalone unlevered, after-tax free cash flows that the Company
          was forecasted to generate during the second half of the Company's fiscal year 2022 and the Company's fiscal years 2023 through 2026 based on financial projections prepared by the Company's management and set forth in the section entitled
          "Financial Projections".  Evercore calculated terminal values of the Company by applying (i) a range of perpetuity growth rates of 3.5% to 4.5%
, which range was selected based on Evercore's professional
              judgment and experience,
and (ii) a range of estimated EBITDA exit multiples of 3.75x to 4.75x, which
were each
range was
selected based on Evercore's professional
          judgment and experience, to a terminal year estimate of the unlevered, after-tax free cash flows that the Company was forecasted to generate
equal to $45 million
based on management's financial
          projections.
Evercore calculated a range of terminal values with a midpoint of $494 million based on a 4.0% midpoint perpetuity growth rate, and a range of terminal values with a midpoint of $651 million
              based on a 4.25x midpoint EBITDA exit multiple.
The unlevered cash flows and terminal values in each case were then discounted to present value as of June 30, 2022 using discount rates ranging from 12.5% to 14.5%, which were based
          on an estimate of the Company's weighted average cost of capital, based on the mid-year cash flow discounting convention.
Evercore estimated the Company's weighted average cost of capital based on application
              of the Capital Asset Pricing Model and its professional judgment and experience given the nature of the Company's business and industry.
Based on this range of implied enterprise values, after adjusting for cash of
$12 million
, debt
of $74 million
and finance lease obligations
of $87 million, in each case
as of March 31,
          2022, and
the number of
9.036 million
fully diluted shares of Company common stock as of June 22, 2022, in each case as provided by the Company's management, (i) the discounted cash
          flow analysis utilizing the perpetuity growth rate methodology to calculate the terminal value indicated a range of implied equity values per share of Company common stock of $18.95 to $32.60 and (ii) the discounted cash flow analysis utilizing
          the EBITDA exit multiple methodology to calculate the terminal value indicated a range of implied equity values per share of Company common stock of $26.10 to $39.15, compared to the merger consideration of $31.72 per share of Company common
          stock.
The Section of the Definitive Proxy Statement entitled "The Merger – Opinion of Evercore Group L.L.C. – Summary of Evercore's Financial Analyses –
Selected Public Company Trading Multiples Analysis
" is amended and supplemented as follows:
7.
The following supplemental disclosure is added before the "Benchmark" table on page 48 of the Definitive Proxy Statement:
Company
Enterprise
Value / 2022E
EBITDA
Enterprise
Value / 2023E
EBITDA
Price / 2022E
EPS
Price / 2023E
EPS
Small Cap Peer Companies
U.S. Xpress Enterprises, Inc.
4.9x
4.1x
8.4x
8.4x
P.A.M. Transportation Services, Inc.
3.8x
4.1x
5.8x
7.1x
Covenant Logistics Group, Inc.
2.8x
3.3x
5.0x
7.1x
Large Cap Peer Companies
Marten Transport, Ltd.
5.1x
5.0x
12.6x
12.5x
Knight-Swift Transportation Holdings Inc.
4.8x
5.2x
8.3x
9.4x
Heartland Express, Inc.
4.6x
4.6x
14.2x
15.9x
Werner Enterprises, Inc.
4.4x
4.5x
9.3x
10.0x
Schneider National, Inc.
3.9x
4.1x
8.3x
9.2x
The Section of the Definitive Proxy Statement entitled "The Merger – Opinion of Evercore Group L.L.C. – Summary of Evercore's Financial Analyses –
Equity Research Analyst Price Targets
" is amended and supplemented as follows:
8.
The following supplemental disclosure replaces in its entirety the second full paragraph on page 50 of the Definitive Proxy Statement:
Evercore reviewed selected public market trading price targets for the shares of Company common stock prepared and published by equity research analysts that
          were publicly available as of June 22, 2022.  These price targets reflect analysts' estimates of the future public market trading price of the shares of Company common stock at the time the price target was published.
The selected public market trading price targets that were publicly available as of June 22, 2022 were as follows:
Firm
Price Target
Stephens
$27.00
Cowen & Company
$24.00
Singular Research
$39.00
The range of selected equity research analyst price targets per share of Company common stock was $24.00 to $39.00 as of June 22, 2022.  Public market
          trading price targets published by equity research analysts are generally twelve-month price targets and hence do not necessarily reflect current market trading prices for the shares of Company common stock and these target prices and the
          analysts' earnings estimates on which they were based are subject to risk and uncertainties, including factors affecting the financial performance of the Company and future general industry and market conditions.
END OF SUPPLEMENT TO THE DEFINITIVE PROXY STATEMENT
Additional Information About the Merger and Where to Find It
This communication is being made in respect of the proposed transaction involving the Company, Parent, and Merger Sub. A special meeting of the stockholders of the Company will be
          held on September 12, 2022, at 11:00 a.m., Eastern Time, to seek stockholder approval in connection with the Merger. The Company has filed with the SEC a preliminary proxy statement, the Definitive Proxy Statement and other relevant documents in
          connection with the Merger. The Definitive Proxy Statement was first mailed to the stockholders of the Company on August 3, 2022 and contains important information about the proposed transaction and related matters. INVESTORS AND STOCKHOLDERS OF
          THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, PARENT, MERGER SUB, AND THE MERGER. Investors may obtain a
          free copy of these materials and other documents filed by the Company with the SEC at the SEC's website at www.sec.gov, at the Company's website at www.usa-truck.com or by sending a written request USA Truck, Inc., 3200 Industrial Park Road, Van
          Buren, Arkansas 72956.
Participants in the Solicitation
The Company and its directors, executive officers and certain other members of management and team members may be deemed to be participants in soliciting proxies from its
          stockholders in connection with the Merger. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of the Company's stockholders in connection with the Merger is set forth in
          the Definitive Proxy Statement. Additional information regarding these individuals and any direct or indirect interests they may have in the Merger is set forth in the Definitive Proxy Statement. Forward Looking Statements information relating to
          the foregoing can also be found in the Definitive Proxy Statement. To the extent that holdings of the Company's securities have changed since the amounts set forth in the Definitive Proxy Statement, such changes have been or will be reflected on
          Statements of Change in Ownership on Form 4 filed with the SEC.
Forward Looking Statements
Statements included in this Supplemental Disclosure that are not historical in nature are "forward-looking statements" as defined in the Private Securities
          Litigation Reform Act of 1995, including statements relating to the completion of the Merger. These forward-looking statements are generally denoted by the use of words such as "anticipate," "believe," "expect," "intend," "aim," "target," "plan,"
          "continue," "estimate," "project," "may," "will," "should," and similar expressions. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. These statements reflect management's current
          beliefs and are based on information currently available to management. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to known
          and unknown risks and uncertainties and other factors that could cause actual results to differ materially from historical results or those anticipated. Accordingly, no assurances can be given that any of the events anticipated by the
          forward-looking statements will occur or if any occur, what effect they will have on our results of operations or financial condition. These factors include, but are not limited to:
•
the satisfaction of the conditions precedent to the consummation of the Merger, including, without limitation, the timely receipt of stockholder and regulatory approvals (or any conditions, limitations or restrictions placed on such
            approvals);
•
uncertainties as to the timing of the Merger and the possibility that the Merger may not be completed;
•
unanticipated difficulties or expenditures relating to the Merger;
•
the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including, in circumstances which would require the Company to pay the Company termination fee;
•
legal proceedings, judgments or settlements, including those that may be instituted against the Company, the Board, the Company's executive officers and others following the announcement of the Merger;
•
disruptions of current plans and operations caused by the announcement and pendency of the Merger;
•
risks related to disruption of management's attention from the Company's ongoing business operations due to the Merger;
•
potential difficulties in employee retention due to the announcement and pendency of the Merger;
•
the response of customers, suppliers, drivers and regulators to the announcement and pendency of the Merger;
•
disruptions in the execution of plans, strategies, goals and objectives of management for future operations caused by the Merger;
•
changes in accounting standards or tax rates, laws or regulations;
•
continued and sufficient access to capital;
•
economic, market, business or geopolitical conditions (including resulting from the COVID-19 pandemic, inflation, or the conflict in Ukraine and related sanctions) or competition, or changes in such conditions, negatively affecting the
            Company's business, operations and financial performance;
•
the fact that receipt of the all-cash per share price will be taxable to our stockholders that are U.S. taxpayers and may be taxable to our stockholders that are taxpayers in foreign jurisdictions;
•
risks that the price of the Company common stock price may decline significantly if the Merger is not completed;
•
the possibility that the Company could, following the Merger, engage in operational or other changes that could result in meaningful appreciation in its value; and
•
the possibility that the Company could, at a later date, engage in unspecified transactions, including restructuring efforts, special dividends or the sale of some or all of the Company's assets to one or more as yet unknown
            purchasers, which could conceivably produce a higher aggregate value than that available to our stockholders in the Merger.
For additional information, see the section of the Definitive Proxy Statement entitled "The Merger—Forward-Looking Financial Information," beginning on page 40
          of the Definitive Proxy Statement. The Company can give no assurance that the expectations expressed or implied in the forward-looking statements contained herein will be attained. The forward-looking statements are made as of the date hereof and
          the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on
          any forward-looking statements made in this Supplemental Disclosure, which speak only as of the date hereof.
SIGNATURE
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.
USA Truck, Inc
.
(Registrant)
Date:
September 1, 2022
/s/ Zachary B. King
Zachary B. King
Executive Vice President and Chief Financial Officer