Form 4: Saia Inc. Executive VP Raymond Ramu Reports Stock Transactions
SEC Form 4
Executive VP and Chief Customer Officer of Saia Inc., Raymond R. Ramu, reports acquisition and disposal of common stock due to performance unit awards and tax liabilities.
Summary
- Raymond R. Ramu, Executive VP & Chief Customer Officer of Saia Inc., filed a Form 4 detailing changes in beneficial ownership.
- On February 7, 2025, Ramu acquired 3,212 shares of common stock through Performance Unit Awards under the 2018 Omnibus Incentive Plan.
- On the same day, 1,315 shares were withheld to cover tax liabilities related to the Performance Unit Awards at a price of $489.51.
- Additionally, 239 shares were withheld on February 7, 2025, to cover tax liabilities from restricted shares awarded in February 2022, also at $489.51.
- On February 10, 2025, 294 shares were withheld to cover tax liabilities from restricted shares awarded in February 2023, at a price of $495.99.
- Following these transactions, Ramu directly owns 5,902 shares of common stock.
- Ramu also holds derivative securities, including phantom stock convertible to 9,109.164 shares of common stock and stock options to buy 1,980 shares.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the document primarily reports routine stock transactions related to executive compensation. The acquisition of shares through performance awards is a slightly positive indicator.
Positives
- The acquisition of 3,212 shares through Performance Unit Awards indicates achievement of performance goals.
Future Outlook
The phantom stock becomes payable in the Company's common stock upon reporting person's termination of service as an employee, in accordance with the terms of the Plan.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages including stock options and performance-based awards are standard practice among publicly traded companies to align management interests with shareholder value.
- Companies like FedEx, UPS, and XPO Logistics also utilize similar compensation structures for their executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect changes in executive ownership.
Key Dates
| Date | Description |
|---|---|
| 2022-03-25 | Date of Power of Attorney |
| 2022-02 | Restricted shares awarded in February 2022 |
| 2023-02 | Restricted shares awarded in February 2023 |
| 2025-02-07 | Acquisition of shares through Performance Unit Awards; shares withheld for tax liabilities |
| 2025-02-10 | Shares withheld for tax liabilities |
| 2025-02-11 | Signature date of the report |
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