Form 4: Knight-Swift Transportation Holdings Inc.: Executive Timothy Sean Harrington Reports Stock Transactions
SEC Form 4
Timothy Sean Harrington, Pres, US Xpress, reports acquisition and disposal of Knight-Swift Transportation Holdings Inc. Class A Common Stock and Restricted Stock Units on May 31, 2024.
Summary
- On May 31, 2024, Timothy Sean Harrington, Pres, US Xpress, reported transactions involving Knight-Swift Transportation Holdings Inc. (KNX) Class A Common Stock.
- Harrington acquired shares through the vesting of restricted stock units and disposed of shares to cover tax obligations.
- The transactions included the acquisition of 866, 688, 608, 753, and 1,091 shares through restricted stock unit conversions.
- Simultaneously, Harrington disposed of 211, 168, 149, 184, and 266 shares to satisfy tax withholding requirements at a price of $48.25 per share.
- Following these transactions, Harrington directly owns 10,009 shares of Class A Common Stock and 4,364 Restricted Stock Units.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions by an executive, with no inherent positive or negative implications for the company's performance.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions and provides transparency to investors regarding the trading activities of company executives. It is a standard practice for publicly traded companies and their officers.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading activities.
- Comparable companies like JB Hunt (JBHT) and Schneider National (SNDR) also have executives who regularly file Form 4s to report similar transactions.
- The vesting schedules of restricted stock units, typically over 3-5 years, are common across the industry as a means of aligning executive compensation with long-term company performance.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding executive compensation and stock ownership.
- The transactions have a limited impact on employees, customers, suppliers, and creditors.
Key Dates
| Date | Description |
|---|---|
| 05/31/2020 | First vesting date of restricted stock unit grant. |
| 05/31/2021 | First vesting date of restricted stock unit grant. |
| 05/31/2022 | First vesting date of restricted stock unit grant. |
| 05/31/2023 | First vesting date of restricted stock unit grant. |
| 05/31/2024 | Date of transactions and first vesting date of restricted stock unit grant. |
| 05/31/2025 | First vesting date of restricted stock unit grant. |
| 06/04/2024 | Date of Form 4 filing. |
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