Form 4: SAIA EVP & CIO Tarak Patel Receives Restricted Stock Grant

SAIA Inc.'s Executive Vice President and Chief Information Officer, Tarak Patel, was granted 1,405 restricted shares as part of the company's long-term incentive program.

Summary

• Tarak Patel, Executive Vice President and Chief Information Officer of SAIA Inc., acquired 1,405 shares of common stock.
• The shares were granted on November 3, 2025, at a price of $0.00 per share.
• This grant is part of the company's long-term incentive program, which was approved by the Compensation Committee.
• The restricted stock award vests over five years: 25% in year three, 25% in year four, and 50% in year five from the grant date.
• Following this transaction, Tarak Patel beneficially owns 1,405 shares directly.

Sentiment

Score: 6

Explanation: The grant of restricted stock to a key executive is a standard compensation practice that aligns management's long-term interests with shareholders, which is generally a neutral to slightly positive signal for corporate governance and executive retention.

Positives

• The grant of restricted shares aligns the executive's interests with long-term shareholder value.
• The award is part of a Compensation Committee-approved long-term incentive program, indicating a structured approach to executive compensation and retention.

Future Outlook

The filing details a vesting schedule for the restricted stock, with 25% vesting in year three, 25% in year four, and 50% in year five, indicating a long-term retention and incentive strategy for the executive.

Management Comments

• Restricted shares granted as part of the long-term incentive program approved by the Compensation Committee.

Industry Context

This routine Form 4 filing reflects standard executive compensation practices within publicly traded companies, where restricted stock grants are commonly used to incentivize long-term performance and align management interests with shareholder value. It does not provide broader industry trend insights.

Comparison to Industry Standards

• The use of restricted stock grants with a multi-year vesting schedule is a common practice in executive compensation across various industries, including transportation and logistics, to foster long-term commitment and performance.
• Such incentive structures are standard for executives at companies like FedEx, UPS, and other major logistics providers, aiming to align executive incentives with company growth and shareholder returns.

Corporate Governance

Related Party Transactions

• The acquisition of 1,405 shares of common stock by Tarak Patel, an EVP and CIO, is an insider transaction related to executive compensation, specifically a restricted stock grant.

Stakeholder Impact

• Shareholders: Potential minor dilution from new share issuance (if not from treasury stock) and compensation expense, but also benefit from increased alignment of executive incentives with long-term company performance.
• Employees: No direct impact on general employees.
• Customers: No direct impact.
• Suppliers: No direct impact.
• Creditors: No direct impact.

Next Steps

• 25% of the restricted stock award will vest in year three from the grant date.
• An additional 25% of the restricted stock award will vest in year four from the grant date.
• The remaining 50% of the restricted stock award will vest in year five from the grant date.

Key Dates

Keywords

SAIA Inc., SAIA, Tarak Patel, Form 4, restricted stock, stock grant, executive compensation, insider transaction, long-term incentive program, EVP CIO