Form 4: Old Dominion Freight Line SVP Ross H. Parr Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Ross H. Parr, SVP of Legal Affairs, GC, and Secretary at Old Dominion Freight Line, reported changes in beneficial ownership of company stock due to tax withholding upon vesting of restricted stock.
Summary
- Ross H. Parr, a Senior Vice President at Old Dominion Freight Line, Inc. (ODFL), filed a Form 4 to report changes in his beneficial ownership of the company's common stock.
- The transactions involved the disposition of shares to cover tax obligations related to the vesting of restricted stock.
- Specifically, 277 shares were disposed of on February 7, 2025, 305 shares on February 8, 2025, 270 shares on February 9, 2025, and 270 shares on February 9, 2025, all at a price of $197.2.
- Following these transactions, Parr directly owns 38,764 shares of ODFL common stock and indirectly owns 620 shares through a 401(k) plan.
- The filing also notes that a 2-for-1 stock split occurred on March 28, 2024, which adjusted the reporting person's ownership.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing relates to routine tax-related stock transactions and doesn't indicate any significant positive or negative developments for the company.
Industry Context
Form 4 filings are routine and provide transparency into the trading activities of company insiders, which can be an indicator of management's sentiment regarding the company's prospects. However, in this case, the transactions are related to tax obligations, which is a common occurrence.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to tax obligations and do not represent a significant change in the company's fundamentals.
Key Dates
| Date | Description |
|---|---|
| 2024/03/28 | Common stock began trading on a 2-for-1 stock split-adjusted basis |
| 2025/02/07 | Disposition of 277 shares of common stock |
| 2025/02/08 | Disposition of 305 shares of common stock |
| 2025/02/09 | Disposition of 270 shares of common stock |
| 2025/02/09 | Disposition of 270 shares of common stock |
| 2025/02/11 | Date of signature for the Form 4 filing |
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