Form 4: Knight-Swift Transportation Holdings Inc. Executive VP Cary M. Flanagan Reports Stock Transactions
SEC Form 4 Filing
Executive VP and CAO of Knight-Swift Transportation Holdings Inc., Cary M. Flanagan, reports multiple transactions involving Class A Common Stock and Restricted Stock Units on May 31, 2024.
Summary
- On May 31, 2024, Cary M. Flanagan, Executive VP and CAO of Knight-Swift Transportation Holdings Inc., engaged in multiple transactions involving the company's Class A Common Stock.
- These transactions included the acquisition of shares through the vesting of restricted stock units and the disposition of shares to cover tax obligations.
- Flanagan acquired a total of 2,642 shares of Class A Common Stock through the vesting of restricted stock units.
- He also disposed of 782 shares of Class A Common Stock to satisfy tax withholding obligations at a price of $48.25 per share.
- Following these transactions, Flanagan directly owns 6,974 shares of Class A Common Stock and 5,233 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive, with no inherent positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It reflects standard compensation practices involving stock-based awards.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- Companies like JB Hunt and Schneider National also utilize similar equity-based compensation strategies for their executives.
- The vesting schedules and tax withholding practices observed in this filing are typical within the transportation and logistics industry.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent routine executive compensation activities.
- Shareholders may view insider ownership as a positive sign of alignment between management and shareholder interests.
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: acquisition and disposition of shares; 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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