Form 4: Knight-Swift CFO Andrew Hess Awarded Restricted Stock Units

Knight-Swift Transportation Holdings CFO, Andrew Hess, received multiple grants of restricted stock units, both time-based and performance-based, on November 30, 2024.

Summary

• Andrew Hess, CFO of Knight-Swift Transportation Holdings, was granted restricted stock units on November 30, 2024.
• These grants include 5,727 time-based restricted stock units, 2,863 performance-based restricted stock units, and another 5,727 performance-based restricted stock units.
• The time-based restricted stock units vest in three tranches: 33% on January 31, 2026, 33% on January 31, 2027, and 34% on January 31, 2028.
• The performance-based restricted stock units are subject to adjustment based on performance targets over a period ending December 31, 2027, and will vest on January 31, 2028.
• All restricted stock units represent a contingent right to receive one share of Knight-Swift Class A Common Stock.

Sentiment

Score: 7

Explanation: The document reflects a standard practice of executive compensation, which is generally viewed positively as it aligns management's interests with shareholders. There are no negative implications in the document.

Positives

• The granting of restricted stock units aligns the CFO's interests with those of the shareholders.
• The vesting schedule of the time-based units encourages long-term commitment from the CFO.
• The performance-based units incentivize the CFO to achieve specific performance targets, potentially benefiting the company.

Risks

• The value of the restricted stock units is dependent on the future performance of Knight-Swift's stock price.
• The performance-based units may not vest fully if performance targets are not met.

Future Outlook

The document does not contain any specific forward-looking statements about the company's future performance, but the vesting of the performance-based restricted stock units is tied to the company's performance through December 31, 2027.

Industry Context

The granting of stock-based compensation is a common practice in the transportation industry to attract and retain key executives. This aligns with industry standards for executive compensation.

Comparison to Industry Standards

• Many publicly traded transportation companies, such as JB Hunt and Werner Enterprises, use restricted stock units as part of their executive compensation packages.
• The vesting schedules and performance metrics used by Knight-Swift are likely similar to those used by its peers, although specific details are not provided in this document.
• The use of both time-based and performance-based units is a common approach to balance retention and performance incentives.

Stakeholder Impact

• Shareholders may view the granting of restricted stock units positively as it aligns management's interests with the company's long-term success.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

restricted stock units, stock options, executive compensation, insider trading, Knight-Swift Transportation, KNX, Andrew Hess, CFO