| ITEM 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On January 26, 2026, the Board of Directors (“Board”) of Schneider National, Inc. (the “Company”) appointed Mr. Mark B. Rourke, the Company’s current President and Chief Executive Officer, to the position of Executive Chair of the Board, effective July 1, 2026 (the “Transition Date”). In conjunction with this change, the Board appointed Mr. James S. Filter, currently Executive Vice President, Group President of Transportation and Logistics of the Company, to the positions of President and Chief Executive Officer of the Company effective on the Transition Date. In addition, Mr. Filter is expected to be appointed to the Board at a later date following the Transition Date. In connection with Mr. Rourke’s appointment as Executive Chair, the Board established the position of Lead Independent Director, and the independent directors of the Board appointed James L. Welch, the Board’s current Chair, to serve as the Lead Independent Director of the Board also effective on the Transition Date.
Mr. Filter, 54, has served as the Company’s Executive Vice President, Group President of Transportation and Logistics since April 2022. Prior to assuming his current role, Mr. Filter served as Senior Vice President and General Manager of Intermodal from 2015 to 2021 when his responsibilities were expanded to include accountabilities as Chief Commercial Officer. Mr. Filter joined the Company in 1998 having previously worked at United Parcel Service (UPS) and serving in the U.S. Marine Corps. He holds a bachelor’s degree from the University of Wisconsin-Green Bay and a master’s degree in business administration from Wayne State University.
The Compensation Committee of the Board has approved Mr. Filter’s compensation as President and Chief Executive Officer as follows:
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An annual base salary of $775,000; |
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A fiscal 2026 annual cash incentive opportunity with a target of $969,000, 125% of base salary; and |
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An annual long-term equity incentive award for fiscal 2026 with a grant date target value of $3,300,000, which will be made under the Company’s 2017 Omnibus Incentive Plan. |
Due to Mr. Filter’s mid-year promotion, his fiscal 2026 annual cash incentive opportunity will be prorated based on time served in each role, and he will receive a “top up” long-term equity incentive award on the Transition Date such that his overall long-term incentive grant value for fiscal 2026 will reflect the time served and annualized grant values for each role. Such “top up” grants will be made in the same mix of award types, terms and performance goals (as applicable) as are granted to Mr. Filter and the other executive officers of the Company in the Company’s fiscal 2026 annual long-term equity incentive grant.
Following his transition to Executive Chair of the Board, Mr. Rourke will remain employed by the Company and will continue to contribute to the Company’s strategic direction and provide counsel to the Company’s leadership team and the Board. Following the Transition Date, Mr. Rourke’s annual base salary will be reduced to $750,000. For fiscal 2026, Mr. Rourke’s annual and long-term incentive program participation will be determined based on his current role as President and Chief Executive Officer, and will not be reduced or modified for fiscal 2026 at the time he transitions to the role of Executive Chair.
Mr. Filter and Mr. Rourke will continue to be eligible to participate in all other regular compensation and benefit arrangements for the Company’s executive officers, which are described in the Company’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on March 17, 2025.
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