Heartland Express trusts gift 8.95M shares
HEARTLAND EXPRESS INC director and CEO Michael J. Gerdin reported estate-planning transfers involving entities associated with him.
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Form Type
4
Rhea-AI Filing Summary
HEARTLAND EXPRESS INC director and CEO Michael J. Gerdin reported estate-planning transfers involving entities associated with him. On May 19, 2026, trusts and grantor retained annuity trusts (GRATs) made bona fide gifts totaling 8,948,912 shares of common stock at $0.00 per share. Following these gifts, one co-trustee trust held 8,939,532 shares and GRATs where he is trustee held 10,000,000 shares, with additional indirect holdings through other trusts and a family partnership where beneficial ownership is partly or fully disclaimed.
Insider Trade Summary
8,948,912 shares gifted
Gift
8 txns
Insider
GERDIN MICHAEL J
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 4,474,456 | $0.00 | $0.00 |
| Gift | Common Stock | 4,474,456 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 10,000,000 shares (Indirect, Trustee of GRATs);
Common Stock — 18,227,312 shares (Indirect, Co-Trustee of Trust);
Common Stock — 1,491,868 shares (Indirect, Trustee of Trust);
Common Stock — 38,424 shares (Indirect, Trustee of Trusts);
Common Stock — 1,936,276 shares (Indirect, Co-General Partner of Partnership);
Common Stock — 438,282 shares (Indirect, Spouse is Trustee of Shares Held by Trust)
Footnotes (9)
- F1. Annuity distributions made from grantor retained annuity trusts (GRATs) created for the benefit of Ann Gerdin.
- F2. Mr. Gerdin is the trustee of GRATs established by Ann S. Gerdin for her benefit.
- F3. Mr. Gerdin is a co-trustee of the Ann S. Gerdin Revocable Trust. As a co-trustee, Mr. Gerdin disclaims beneficial ownership with respect to this trust.
- F4. Mr. Gerdin is the trustee of the Michael J. Gerdin Revocable Trust.
- F5. Mr. Gerdin is a co-trustee of the 2009 Gerdin Heartland Trust. As a co-trustee, Mr. Gerdin disclaims beneficial ownership with respect to this trust.
- F6. Mr. Gerdin is the trustee of trusts created for the benefit of his children.
- F7. Mr. Gerdin is a co-trustee of the 2007 Gerdin Heartland Trust. As a co-trustee, Mr. Gerdin disclaims beneficial ownership with respect to this trust.
- F8. Mr. Gerdin is a co-general partner of Gerdin Family Investments LP. Beneficial ownership is disclaimed except to the extent of Mr. Gerdin's percentage ownership of general and limited partner shares in the partnership.
- F9. Mr. Gerdin's spouse is the trustee of the Michael J. Gerdin Family Trust.
Key Figures
Total gifted shares: 8,948,912 shares
Gift per transaction: 4,474,456 shares
Gift price: $0.00 per share
+3 more
6 metrics
Total gifted shares
8,948,912 shares
Bona fide gifts of common stock on May 19, 2026
Gift per transaction
4,474,456 shares
Each of two non-derivative gift transactions
Gift price
$0.00 per share
Bona fide gift transactions, non-cash transfers
GRAT holdings after gifts
10,000,000 shares
Total shares held by GRATs where Gerdin is trustee
Co-trustee trust holdings after gifts
8,939,532 shares
Shares held by Ann S. Gerdin Revocable Trust co-trustee
Family partnership holdings
1,936,276 shares
Gerdin Family Investments LP, indirect ownership
Key Terms
grantor retained annuity trusts (GRATs), bona fide gift, beneficial ownership is disclaimed, co-general partner, +1 more
5 terms
grantor retained annuity trusts (GRATs) financial
"Annuity distributions made from grantor retained annuity trusts (GRATs) created for the benefit of Ann Gerdin."
bona fide gift financial
"transaction_code_description: Bona fide gift"
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
beneficial ownership is disclaimed financial
"As a co-trustee, Mr. Gerdin disclaims beneficial ownership with respect to this trust."
co-general partner financial
"Mr. Gerdin is a co-general partner of Gerdin Family Investments LP."
grantor retained annuity trusts financial
"Mr. Gerdin is the trustee of GRATs established by Ann S. Gerdin for her benefit."
A grantor retained annuity trust (GRAT) is an estate-planning tool where an owner transfers assets into a trust and receives fixed payments back for a set number of years; any remaining assets after that period pass to designated beneficiaries. For investors it matters because it can move future investment growth to heirs while potentially reducing gift and estate taxes — like putting a rising asset in a timed box that pays you first and gives the remaining upside to others.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Heartland Express (HTLD) report in this Form 4 filing?
Heartland Express reported that trusts and GRATs associated with CEO Michael J. Gerdin made bona fide gifts of company common stock. These are non-cash, estate-planning transfers rather than open-market trades, and are disclosed to show updated indirect ownership positions.
Were the Heartland Express (HTLD) Form 4 transactions insider sales?
No, the transactions are coded as bona fide gifts, not sales. Shares were transferred at $0.00 per share from trusts and GRATs associated with Michael J. Gerdin, reflecting estate and wealth-planning activity rather than open-market selling of HTLD stock.
What indirect HTLD holdings remain in GRATs after these gifts?
After the reported gifts, GRATs where Michael J. Gerdin is trustee hold 10,000,000 Heartland Express shares. Footnotes explain these are grantor retained annuity trusts created for the benefit of Ann S. Gerdin, and he reports them due to his trustee role.
How does Michael J. Gerdin’s Form 4 describe his beneficial ownership in HTLD trusts?
The filing states he is co-trustee or trustee of several trusts and a family partnership. It notes he disclaims beneficial ownership for certain trusts and for partnership interests beyond his proportionate share, clarifying the extent of his economic interest in HTLD shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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