Form 4: Knight-Swift EVP Michael Liu Reports Significant Stock Transactions and New RSU Grant

Knight-Swift Transportation Holdings Inc.'s EVP of Operations, Michael K Liu, reported the vesting and conversion of multiple restricted stock unit grants into Class A Common Stock, along with the disposition of shares for tax purposes and the acquisition of a new RSU grant.

Summary

• Michael K Liu, EVP Operations at Knight-Swift Transportation Holdings Inc. (KNX), reported multiple transactions on May 31, 2025, primarily involving the vesting and conversion of previously granted Restricted Stock Units (RSUs) into Class A Common Stock.
• A total of 3,850 shares of Class A Common Stock were acquired through the conversion of RSUs from grants made in 2021, 2022, 2023, 2024, and 2025.
• Concurrently, 1,683 shares of Class A Common Stock were disposed of at a price of $44.32 per share to cover tax liabilities associated with the RSU vesting.
• Following these transactions, Mr. Liu directly holds 3,420 shares of Class A Common Stock.
• Additionally, Mr. Liu received a new grant of 5,798 Restricted Stock Units, which will vest in five equal annual installments beginning May 31, 2026.
• His total beneficial ownership of derivative securities (RSUs) after these transactions is 14,146 units, comprising remaining balances from prior grants and the new 2026 grant.

Sentiment

Score: 7

Explanation: The EVP's acquisition of shares through RSU vesting and the grant of new RSUs suggest continued alignment of management's interests with shareholders and confidence in the company's long-term prospects.

Positives

• Acquisition of 3,850 shares of Class A Common Stock through RSU vesting, increasing direct stock ownership.
• Grant of 5,798 new Restricted Stock Units, indicating continued long-term incentive and alignment with shareholder interests.

Negatives

• Disposition of 1,683 shares of Class A Common Stock to cover tax obligations, which is a common practice for RSU vesting and not necessarily a negative signal.

Future Outlook

No forward-looking statements or guidance regarding the company's performance are provided in this Form 4.

Industry Context

This filing is a routine insider transaction report and does not provide information to analyze broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders: The continued accumulation of shares by a key executive, even through RSU vesting, can be viewed as a positive signal of insider confidence. The new RSU grant aligns the executive's long-term incentives with shareholder value creation.

Next Steps

• Future vesting of remaining Restricted Stock Units on their respective schedules, including the new grant beginning May 31, 2026.

Key Dates

Keywords

Knight-Swift Transportation, KNX, SEC Form 4, insider transaction, restricted stock units, RSU vesting, stock ownership, executive compensation, transportation industry, logistics, trucking