Form 4: Knight-Swift Logistics SVP Reed Stultz Reports Routine Stock Vesting and Tax-Related Share Dispositions

Knight-Swift Transportation Holdings Inc. Senior Vice President of Logistics, Reed Stultz, filed a Form 4 detailing the vesting of restricted stock units and the subsequent sale of shares to cover tax obligations.

Summary

• Reed Stultz, SR VP Logistics at Knight-Swift Transportation Holdings Inc. (KNX), reported multiple transactions on May 31, 2025, related to the vesting of restricted stock units (RSUs).
• A total of 2,036 Class A Common Stock shares were acquired through the conversion of RSUs from grants made in 2021, 2022, 2023, 2024, and 2025.
• Concurrently, 609 Class A Common Stock shares were disposed of at a price of $44.32 per share to satisfy tax withholding obligations related to the RSU vesting.
• Following these transactions, Mr. Stultz directly beneficially owns 5,157 shares of Class A Common Stock and indirectly owns 2,246 shares through a Trust, totaling 7,403 shares.
• A new grant of 3,384 restricted stock units was also reported, which will vest in five equal annual installments beginning May 31, 2026.
• Remaining unvested restricted stock units include 349 from the 2022 grant, 822 from the 2023 grant, 1,145 from the 2024 grant, 2,487 from the 2025 grant, and the newly granted 3,384 units from the 2026 grant, totaling 8,187 RSUs.

Sentiment

Score: 5

Explanation: This is a routine insider transaction filing (Form 4) detailing the vesting of restricted stock units and the subsequent sale of shares to cover tax obligations, which is a standard compensation event and does not indicate positive or negative sentiment about the company's performance or outlook.

Positives

• The vesting of restricted stock units represents a realization of executive compensation, increasing the reporting person's direct shareholdings in the company.
• A new grant of 3,384 restricted stock units indicates continued long-term incentive alignment between the executive and shareholder interests.

Negatives

• A portion of the vested shares (609 shares) was sold to cover tax liabilities, which reduces the direct beneficial ownership of the reporting person.

Future Outlook

The document indicates a continued long-term incentive structure for the Senior Vice President of Logistics, with a new grant of 3,384 restricted stock units scheduled to vest in five equal annual installments beginning May 31, 2026, aligning executive interests with future company performance.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, common across all publicly traded companies, and does not provide specific insights into broader industry trends or competitive landscape within the transportation and logistics sector.

Related Party Transactions

• The beneficial ownership totals include shares owned by Megan Stultz: 465 shares within the direct ownership, 970 shares within the indirect trust ownership, 34 shares within the 349 remaining RSUs, 46 shares within the 822 remaining RSUs, and 54 shares within the 1,145 remaining RSUs.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine compensation event for an executive, not a significant change in overall company equity structure or performance.
• Employees: No direct impact on the broader employee base, as this relates to executive-specific compensation.

Next Steps

• Future vesting of remaining restricted stock units from grants made in 2022, 2023, 2024, and 2025.
• Future vesting of the newly granted 3,384 restricted stock units, commencing May 31, 2026, in five equal annual installments.

Key Dates

Keywords

Knight-Swift Transportation Holdings Inc., KNX, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Executive Compensation, Stock Ownership, Tax Withholding