Form 4: Knight-Swift Transportation CFO Andrew Hess Reports Stock Transactions
SEC Form 4 Filing
CFO Andrew Hess reports the vesting and disposition of restricted stock units, resulting in changes to his beneficial ownership of Knight-Swift Transportation Holdings Inc. stock.
Summary
- On January 31, 2025, Andrew Hess, CFO of Knight-Swift Transportation Holdings Inc., engaged in transactions involving Class A Common Stock.
- These transactions included the vesting of 1,620 and 1,691 restricted stock units, which converted into Class A Common Stock on a one-for-one basis.
- Hess also disposed of shares to cover tax obligations, with 562 shares sold at $57.09 and 536 shares sold at $57.09.
- Following these transactions, Hess directly owns 7,874 shares of Class A Common Stock and 3,439 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment. It's a factual report of activity.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the financial interests of company executives.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- The vesting schedules and tax-related dispositions are typical components of such compensation plans.
- Comparing Hess's stock ownership and transactions to those of executives at similar transportation companies (e.g., JB Hunt, Schneider National) would provide a benchmark for assessing the magnitude and structure of his equity compensation.
Stakeholder Impact
- Shareholders are informed about changes in the CFO's beneficial ownership of company stock, providing transparency into executive compensation and alignment of interests.
Key Dates
| Date | Description |
|---|---|
| 01/31/2022 | Start date for vesting of restricted stock unit grant in five equal annual installments. |
| 01/31/2025 | Date of stock transactions, including vesting of restricted stock units and disposition of shares for tax obligations. |
| 01/31/2025 | 33% of restricted stock units vest. |
| 01/31/2026 | 33% of restricted stock units vest. |
| 01/31/2027 | 34% of restricted stock units vest. |
| 02/04/2025 | Date of signature on the Form 4 filing. |
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