Company: MGRC
Filing Date: 2025-06-04
Form Type: 11-K
Source: 0000950170-25-081595
Chunk: 8

Company: MCGRATH RENTCORP
Filing Date: 2025-06-04
Form: 11-K
Chunk 8
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 for similar assets or liabilities in active markets;                                                                                             
 •Quoted prices for identical or similar assets or liabilities in inactive markets;                                                                              
 •Inputs other than quoted prices that are observable for the asset or liability;                                                                                
 •Inputs that are derived principally from or corroborated by observable market data by correlation or other means.                                              |
| Level 3 | Inputs to the valuation methodology are unobservable and significant to the fair value measurement.                                                             |

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The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

The following is a description of the valuation methodologies used by the Plan for assets measured at fair value. There have been no changes to the methodologies used as of December 31, 2024 and 2023.

Mutual Funds

Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value (“NAV”) and to transact at that price. The mutual funds held by the Plan are actively traded.

McGrath RentCorp Unitized Stock Fund (“Fund”)

The Fund consists of the Company’s common stock and short-term cash which provides liquidity for daily trading. The Company’s common stock is valued at the quoted market price from a national securities exchange and the short-term cash investments are held in a money market mutual fund and are valued at fair value based on the NAV per share. A market-based NAV per share is calculated on a periodic basis. Shares can be redeemed on a same day basis but only directly from the Fund. Such transactions do not constitute an active market.

Collective Investment Trusts

The Plan has investments in Collective Investment Trusts (CITs) managed by Northern Trust, T Rowe, MFS, Harbor Trust Company, Great Gray Trust, Metropolitan Life Insurance and Galliard Capital Management.

The CITs are valued at the NAV as provided by the administrators of the fund. The NAV is used as the practical expedient to estimate fair value. The NAV is based on the value of the underlying assets of the fund, less liabilities, and then divided by the number of units outstanding.

Brokerage Account

A participant-directed brokerage account allows an investor to buy or sell investments such as stocks, bonds,