Form 4: Saia Inc. Executive Anthony R. Norwood Reports Stock Transactions
SEC Form 4
EVP & CHRO of Saia Inc., Anthony R. Norwood, reports acquisition of shares through performance unit awards and disposition of shares to cover tax liabilities.
Summary
- Anthony R. Norwood, EVP & CHRO of Saia Inc., filed a Form 4 detailing changes in beneficial ownership of company stock.
- On March 3, 2025, Norwood acquired 888 shares of common stock through Performance Unit Awards under the 2018 Omnibus Incentive Plan for the 1/1/22-12/31/24 performance period at $0.00.
- Also on March 3, 2025, Norwood disposed of 64 shares at $390.34 to cover tax liabilities from restricted shares awarded in March 2022.
- Additionally, 255 shares were withheld at $390.34 to cover tax liabilities from the Performance Unit Awards.
- Following these transactions, Norwood directly owns 3,830 shares of Saia Inc. common stock.
- Norwood also holds options to buy 530 shares of common stock at an exercise price of $287.79, granted on 03/02/2029, vesting in three annual installments.
Sentiment
Score: 6
Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation. The acquisition of shares is a positive sign, while the sale to cover taxes is a common practice.
Positives
- Acquisition of 888 shares through Performance Unit Awards indicates achievement of performance goals.
Negatives
- Disposition of shares to cover tax liabilities reduces Norwood's direct holdings.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor management's alignment with shareholder interests.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 2022-03-02 | Date of Power of Attorney execution. |
| 2022-03 | Restricted shares awarded in March 2022. |
| 2022-01-01 | Start date of performance period for Performance Unit Awards. |
| 2024-12-31 | End date of performance period for Performance Unit Awards. |
| 2025-03-03 | Date of stock transactions (acquisition and disposition). |
| 2025-03-05 | Date of signature on the Form 4. |
| 2029-03-02 | Grant date of stock options. |
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