Form 4: Saia Inc. Executive Patrick Sugar Disposes of Shares to Cover Tax Liabilities
SEC Form 4
EVP Operations Patrick Sugar disposed of 103 shares of Saia Inc. common stock on March 11, 2024, to cover tax obligations related to vesting restricted shares.
Summary
- On March 11, 2024, Patrick D. Sugar, EVP Operations at Saia Inc., disposed of 103 shares of common stock.
- The transaction was executed to cover tax liabilities incurred from the vesting of restricted shares awarded in March 2021.
- The shares were disposed of at a price of $579.19 per share.
- Following the transaction, Sugar directly owns 7,137 shares of Saia Inc. common stock.
- Sugar also holds derivative securities, including phantom stock convertible to 354.009 shares of common stock and stock options to purchase 1,231 shares of common stock at prices of $277.86 and $200.81.
Sentiment
Score: 5
Explanation: This is a neutral transaction related to tax obligations, with no significant positive or negative implications.
Industry Context
This is a routine Form 4 filing, reflecting an insider transaction related to tax obligations. It's common for executives to sell shares to cover taxes when restricted stock vests.
Key Dates
| Date | Description |
|---|---|
| March 2021 | Restricted shares were awarded to Patrick Sugar. |
| March 25, 2022 | Date of Power of Attorney execution. |
| February 11, 2028 | Expiration date for stock options with exercise price of $200.81. |
| February 7, 2029 | Expiration date for stock options with exercise price of $277.86. |
| March 11, 2024 | Date of the stock disposal transaction. |
| March 13, 2024 | Date of signature on the Form 4 filing. |
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