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DEMOREST ROBERT L reported acquisition or exercise transactions in this Form 4 filing.
Marten Transport Ltd director Robert L. Demorest received a grant of 4,100 shares of Common Stock as equity compensation. The award was recorded at a price of $0.00 per share, indicating it was a non-cash stock grant rather than an open‑market purchase. Following this grant, Demorest directly holds 58,894 shares of Marten Transport common stock, showing he retains a meaningful ongoing ownership stake in the company.
Hinnendael James J reported acquisition or exercise transactions in this Form 4 filing.
Marten Transport Ltd executive vice president and chief financial officer James J. Hinnendael received a grant of 6,766 shares of common stock on May 5, 2026, as a performance-based award at no cash cost to him. These shares, granted under a Performance Unit Award Agreement, will vest in equal increments over five years beginning on December 31, 2026. Following this grant, he directly holds 161,564 shares of Marten Transport common stock, including several prior performance awards scheduled to vest between December 31, 2026 and December 31, 2030.
MARTEN RANDOLPH L reported acquisition or exercise transactions in this Form 4 filing.
Marten Transport Ltd Chairman and CEO Randolph L. Marten received a grant of 12,300 shares of Common Stock as a performance-based award. The shares were granted at no cash cost per share and will vest in equal increments over five years beginning on December 31, 2026. Following this award, he directly holds 17,744,100 shares of the company’s common stock, including multiple prior performance award grants that vest between December 31, 2026 and December 31, 2030.
Phillips Adam Daniel reported acquisition or exercise transactions in this Form 4 filing.
Marten Transport EVP & COO Adam Daniel Phillips received a grant of 4,661 shares of common stock as a performance-based award at no cost per share. After this award, he directly holds 15,284 shares. The new grant vests in equal installments over five years beginning on December 31, 2026.
Petit Douglas Paul reported acquisition or exercise transactions in this Form 4 filing.
Marten Transport Ltd President Douglas Paul Petit received 6,423 shares of Common Stock as a stock grant. The shares were awarded at a price of $0.00 per share as compensation, not through an open-market purchase.
After this grant, he directly holds 40,585 shares of Marten Transport Common Stock. The 6,423-share award is structured under a Performance Unit Award Agreement and will vest in equal increments over five years beginning on December 31, 2026, tying full ownership to continued service and performance over time.
Baier Randall John reported acquisition or exercise transactions in this Form 4 filing.
Marten Transport Ltd executive Randall John Baier, Executive VP & Chief Technology Officer, received a grant of 4,817 shares of common stock at no cost as a compensation award. These shares, granted under a Performance Unit Award Agreement, will vest in equal increments over five years beginning on December 31, 2026.
After this award, Baier directly holds 22,564 shares of common stock, which include several prior performance awards with vesting schedules running from December 31, 2026 through December 31, 2030. This filing reflects a stock-based compensation grant rather than an open-market purchase or sale.
Marten Transport, Ltd. reported weaker results for the first quarter ended March 31, 2026. Net income fell to $1.4 million, or $0.02 per diluted share, compared with $4.3 million, or $0.05 per diluted share, a year earlier. Operating revenue declined to $203.5 million from $223.2 million, an 8.8% decrease, partly reflecting the 2025 sale of its intermodal operations.
Operating income dropped to $1.6 million from $5.9 million as the consolidated operating ratio worsened to 99.2% from 97.4%, indicating thinner margins. Management cited severe winter storms, higher diesel prices and a prolonged freight market recession as key pressures, though truckload and dedicated revenue per tractor improved. The company highlighted a debt‑free balance sheet and cash and cash equivalents of $69.8 million as support for ongoing investment in technology and its modern fleet.
Marten Transport, Ltd. is soliciting proxies for its 2026 annual stockholder meeting on May 5, 2026, in Mondovi, Wisconsin. Stockholders of record on March 6, 2026, when 81,589,135 common shares were outstanding, are entitled to one vote per share.
Key items include electing seven directors, an advisory vote on executive compensation, and ratifying Grant Thornton LLP as independent auditor. The board highlights a majority of independent directors, formal risk oversight, a hedging ban for insiders, a Nasdaq-compliant clawback policy, and broad codes of ethics.
The company emphasizes performance-linked pay, using base salary plus long-term equity awards. In 2025, CEO compensation was $1,154,303 versus median employee pay of $75,053, a 15:1 ratio. Prior say‑on‑pay received strong support, and the board continues annual advisory votes on pay.
Marten Transport reported 2025 operating revenue of $883.7 million, down 8.3% from 2024, as a softer freight market weighed on all segments. Revenue excluding fuel surcharges fell 7.3% to $779.0 million and fuel surcharge revenue declined to $104.7 million.
Operating income dropped 31.0% to $22.9 million, with the consolidated operating ratio weakening to 97.4% from 96.6%. Net income fell 35.2% to $17.4 million, or $0.21 per diluted share. Truckload, Dedicated and Intermodal all saw lower revenue, while Brokerage grew modestly.
The company sold its Intermodal operations effective September 30, 2025 and operated 2,654 tractors and 5,107 trailers at year-end. Marten ended 2025 with $48.3 million in cash and cash equivalents and no long-term debt, paid $0.24 per share in annual dividends, and continues an authorized share repurchase program.