Form 4: Old Dominion Freight Line Director Settles Phantom Stock Awards, Adjusts Common Stock Holdings

Old Dominion Freight Line, Inc. Director Greg C. Gantt reported the settlement of various phantom stock awards into common stock and a subsequent disposition of shares for tax purposes on June 1, 2025.

Summary

• Greg C. Gantt, a Director of Old Dominion Freight Line, Inc. (ODFL), reported multiple transactions on June 1, 2025, related to the settlement of phantom stock awards.
• A total of 5,103 shares of common stock were acquired through the exercise or conversion of phantom stock grants from 2010 through 2015, and grants prior to 2010.
• Each phantom stock unit was economically equivalent to one share of Old Dominion Freight Line, Inc. common stock.
• The phantom stock awards were adjusted to reflect previous stock splits, including a two-for-one split on March 28, 2024, and three-for-two splits on March 25, 2020, September 10, 2012, and August 24, 2010.
• Concurrently, 2,111 shares of common stock were disposed of at a price of $160.17 per share, likely for tax withholding purposes related to the phantom stock settlement.
• Following these transactions, Mr. Gantt's direct beneficial ownership of common stock is 117,272 shares, and indirect beneficial ownership through a spouse's 401(k) plan is 268 shares.

Sentiment

Score: 6

Explanation: The filing details routine insider transactions related to the settlement of phantom stock awards and subsequent tax-related share dispositions, indicating normal course compensation activities without significant positive or negative implications for the company's operational or financial health.

Positives

• The settlement of phantom stock awards represents the vesting and realization of long-term incentive compensation for Director Greg C. Gantt, converting equity-based awards into actual common stock.

Negatives

• A disposition of 2,111 shares of common stock at $160.17 per share occurred, which reduced the direct beneficial ownership, likely due to tax withholding obligations associated with the phantom stock settlement.

Stakeholder Impact

• Shareholders: The settlement of phantom stock awards results in the issuance of new common shares, which represents a minor, expected dilution as part of executive compensation plans. The disposition of shares for tax purposes is a routine event for insiders receiving equity compensation.

Key Dates

Keywords

Old Dominion Freight Line, ODFL, Insider Trading, Form 4, Phantom Stock, Common Stock, Equity Compensation, Director, Stock Settlement, Beneficial Ownership