Form 4: Old Dominion Freight Line Director Settles Phantom Stock Awards for Common Stock
SEC Form 4
Director Greg C. Gantt settled phantom stock awards for Old Dominion Freight Line common stock on May 1, 2024, according to a Form 4 filing.
Summary
- On May 1, 2024, Greg C. Gantt, a director of Old Dominion Freight Line, Inc., settled phantom stock awards for shares of common stock.
- The transactions involved the settlement of phantom stock awards from various grants dating back to 2010.
- The director acquired a total of 5,052 shares of common stock through the settlement of these phantom stock awards.
- A portion of the acquired shares (2,125) were then disposed of at a price of $181.71.
- Following these transactions, Gantt directly owns 99,742 shares of common stock and indirectly owns 15,792 shares through a 401(k) plan.
Sentiment
Score: 6
Explanation: The document is neutral in sentiment. It simply reports transactions related to executive compensation. There are no explicit positive or negative implications for the company's performance.
Positives
- The settlement of phantom stock awards suggests the fulfillment of previous compensation agreements.
Industry Context
This filing is a routine disclosure related to insider transactions and compensation practices within publicly traded companies. It provides transparency regarding the holdings and transactions of company directors.
Comparison to Industry Standards
- Stock splits are common corporate actions, and Old Dominion's splits are in line with other growing companies.
- Phantom stock awards are a fairly standard form of executive compensation, used by companies like JB Hunt and Schneider National.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the issuance of shares related to existing compensation plans.
Key Dates
| Date | Description |
|---|---|
| 08/24/2010 | Date of one of the stock splits that required adjustment of the phantom stock awards. |
| 09/10/2012 | Date of one of the stock splits that required adjustment of the phantom stock awards. |
| 03/25/2020 | Date of one of the stock splits that required adjustment of the phantom stock awards. |
| 03/28/2024 | Date of the most recent stock split that required adjustment of the phantom stock awards. |
| 05/01/2024 | Date of the transaction: settlement of phantom stock awards for common stock. |
| 05/02/2024 | Date of the Form 4 filing. |
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