Form 4: Knight-Swift Executive Chairman Receives Equity Grant

Knight-Swift Transportation Holdings Inc. Executive Chairman Kevin P. Knight received grants of restricted stock units and performance-based restricted stock units.

Summary

• Kevin P. Knight, Executive Chairman of Knight-Swift Transportation Holdings Inc. (KNX), acquired 23,580 Restricted Stock Units (RSUs) on November 28, 2025.
• He also acquired 11,790 Performance Restricted Stock Units (PRSUs) on November 28, 2025, subject to adjustment based on performance targets.
• An additional 23,580 Performance Restricted Stock Units (PRSUs) were acquired on November 28, 2025, subject to adjustment based on relative performance targets.
• Each RSU and PRSU represents a contingent right to receive one share of KNX Class A Common Stock.
• The 23,580 RSUs vest in three tranches: 33% on January 31, 2027; 33% on January 31, 2028; and 34% on January 31, 2029.
• Both sets of PRSUs (11,790 and 23,580 units) have a performance period ending December 31, 2028, with shares earned under these awards vesting on January 31, 2029.

Sentiment

Score: 6

Explanation: The filing reports a routine executive equity grant, which is generally a positive for aligning management incentives with shareholder interests, but does not contain information that would significantly alter the company's immediate outlook.

Positives

• The equity grants align the Executive Chairman's interests with long-term shareholder value through multi-year vesting schedules and performance targets.
• The awards demonstrate ongoing commitment to executive compensation tied to company performance.

Risks

• The number of shares ultimately received from the Performance Restricted Stock Units is subject to adjustment based on achieving or failing to achieve specific performance targets over a period ending December 31, 2028.
• The relative performance targets for the 23,580 PRSUs introduce external market and competitor performance risks.

Future Outlook

The equity grants are structured to incentivize long-term performance, with vesting and performance periods extending through January 2029, aligning executive compensation with future company growth and shareholder returns.

Industry Context

Executive equity grants are a standard practice in the transportation and logistics industry, aiming to retain key leadership and align their financial incentives with the company's long-term strategic objectives and market performance.

Stakeholder Impact

• Shareholders: The equity grants are designed to align the Executive Chairman's financial interests with long-term shareholder value creation, potentially leading to more focused strategic decisions.
• Employees: No direct impact on general employees is indicated by this filing.

Next Steps

• Achievement of performance targets for Performance Restricted Stock Units by December 31, 2028.
• Scheduled vesting of Restricted Stock Units on January 31, 2027, January 31, 2028, and January 31, 2029.
• Scheduled vesting of Performance Restricted Stock Units on January 31, 2029, contingent on performance.

Key Dates

Keywords

Knight-Swift Transportation, KNX, Restricted Stock Units, Performance Restricted Stock Units, Executive Compensation, Insider Transaction, Equity Grant, Corporate Governance, Transportation Industry