Form 4: SAIA EVP Operations Patrick D. Sugar Discloses Stock and Phantom Stock Holdings in Latest SEC Filing
Insider Ownership Disclosure
SAIA Inc.'s Executive Vice President of Operations, Patrick D. Sugar, filed a Form 4 disclosing his beneficial ownership of common stock and phantom stock units.
Summary
- Patrick D. Sugar, EVP Operations of SAIA Inc. (SAIA), filed a Form 4 detailing his beneficial ownership of company securities.
- As of June 16, 2025, Mr. Sugar directly owns 8,273 shares of SAIA Common Stock.
- He also beneficially owns 1,115.837 units of Phantom Stock directly.
- An additional 798.537 units of Phantom Stock are held indirectly, which convert at a rate of 1.1644, resulting in 1,299.293 shares of common stock as of June 16, 2025.
- The phantom stock units become payable in the Company's common stock upon Mr. Sugar's termination of service as an employee, in accordance with the terms of the Plan.
Sentiment
Score: 5
Explanation: The document is a routine insider ownership disclosure, providing factual information without indicating significant positive or negative financial implications for the company or its stock price.
Future Outlook
The document does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.
Management Comments
- The Power of Attorney states that the attorneys-in-fact (Frederick J. Holzgrefe, III, Douglas L. Col, and Kelly Benton) are not assuming, nor is the Company assuming, any of the undersigned's (Patrick D. Sugar's) responsibilities to comply with Section 16 of the Securities Exchange Act of 1934.
Industry Context
This Form 4 filing is a routine disclosure of insider stock ownership and does not provide specific insights into broader industry trends or competitive dynamics within the transportation or logistics sector.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| EVP Operations | N/A | Patrick D. Sugar | N/A | Confirmation of existing role; document details holdings of an existing officer. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Patrick D. Sugar granted a Power of Attorney to Frederick J. Holzgrefe, III, Douglas L. Col, and Kelly Benton to execute and file Forms ID, 3, 4, and 5 on his behalf in accordance with Section 16(a) of the Securities Exchange Act of 1934. | 03/25/2022 | This streamlines the process for insider trading compliance filings for the named officer, ensuring timely and accurate disclosures. |
Related Party Transactions
- The phantom stock holdings represent a form of executive compensation, which is a transaction between the company and a related party (an executive).
Stakeholder Impact
- Shareholders: Provides transparency regarding the beneficial ownership of company securities by a key executive, which is important for corporate governance and understanding insider alignment.
- Employees: The phantom stock plan terms relate to employee termination of service, impacting the executive's compensation structure.
Next Steps
- The phantom stock units will become payable in the Company's common stock upon the reporting person's termination of service as an employee, in accordance with the terms of the Plan.
Key Dates
| Date | Description |
|---|---|
| 03/25/2022 | Date of the Power of Attorney granted by Patrick D. Sugar for Section 16 filings. |
| 06/16/2025 | Date of earliest transaction reported for common stock and phantom stock holdings. |
| 06/18/2025 | Signature date of the reporting person's representative on the Form 4. |
Keywords
SAIA, Form 4, insider trading, beneficial ownership, common stock, phantom stock, executive compensation, Patrick D. Sugar, SEC filing
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.