A fastener assembly includes a threaded bolt and a locking nut assembly. The threaded bolt includes at least one longitudinal groove. The locking nut assembly includes a nut adapted to threadingly engage the bolt, a locking ring adapted to engage the bolt and the nut, and a biasing member adapted to bias the locking ring. The nut includes a threaded bore dimensioned to receive the bolt and can include a plurality of teeth formed on a face of the nut. Alternatively, an insert ring can be received by the nut and the insert ring can include teeth. The locking ring includes at least one inwardly protruding tab dimensioned to be received by the at least one longitudinal groove of the threaded bolt and a plurality of teeth formed on a face of the ring. The teeth on the face of the locking ring cooperate with the teeth on the face of the nut, or insert ring, to inhibit removal of the nut from the bolt after the nut has been tightened.