Old Dominion (ODFL) director settles phantom awards into shares and reports a sale
Rhea-AI Filing Summary
Old Dominion Freight Line director Greg C. Gantt reported the settlement of outstanding phantom stock awards into 1,538 shares of common stock on September 1, 2025. The Form 4 shows three non-derivative acquisitions of 350, 480 and 708 shares (codes M) reflecting the conversion of phantom stock grants, and a separate sale of 636 shares at $150.97. After these transactions Mr. Gantt beneficially owned 120,614 shares directly, plus 268 shares indirectly through a spouse 401(k) plan. The filing notes the share amounts were adjusted for prior stock splits.
Positive
- Conversion of phantom awards into 1,538 shares increases the director's direct ownership
- Direct beneficial ownership reported at 120,614 shares, showing continued significant insider stake
Negative
- Disposition of 636 shares at $150.97 reduced the director's immediate shareholdings by that amount
Insights
TL;DR: Director converted phantom stock into 1,538 shares and sold 636 shares; ownership remains substantive at ~120,600 shares.
The filing documents routine executive compensation settlement activity rather than open-market purchases. The conversion of phantom stock into shares is an administrative compensation event that increases the director's direct share count by 1,538 shares while a contemporaneous sale of 636 shares generated cash at $150.97 per share. The report discloses an indirect holding of 268 shares via a spouse 401(k) plan. No new derivative grants or unusual vesting terms are disclosed beyond settlement; this is typical post-vesting settlement reporting.
TL;DR: Transaction appears administratively material to insider holdings but not materially market-moving.
The disclosure shows the net effect on the director's stake: the direct beneficial ownership rises to 120,614 shares after converting phantom awards, with a reported sale of 636 shares at $150.97. These are scheduled compensation settlements (codes M) and a routine disposition (code F). There is no indication of a large, unexpected purchase or sale relative to outstanding float and no explicit trading plan referenced on the form. Impact for investors is informational regarding insider share composition.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Stock (2015 grant) | 350 | $0.00 | -- |
| Exercise | Phantom Stock (2014 grant) | 480 | $0.00 | -- |
| Exercise | Phantom Stock (2013 grant) | 708 | $0.00 | -- |
| Exercise | Common Stock | 350 | $0.00 | -- |
| Exercise | Common Stock | 480 | $0.00 | -- |
| Exercise | Common Stock | 708 | $0.00 | -- |
| Tax Withholding | Common Stock | 636 | $150.97 | $96K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Each share of phantom stock was the economic equivalent of one share of Old Dominion Freight Line, Inc. common stock. This Form 4 is being filed to report the settlement of certain outstanding phantom stock awards in shares of Old Dominion Freight Line, Inc. common stock on September 1, 2025. Adjusted to reflect a two-for-one stock split on March 28, 2024 and a three-for-two stock split on March 25, 2020.
