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KNX > SEC Filings for KNX > Form 8-K on 20-Mar-2014All Recent SEC Filings

Show all filings for KNIGHT TRANSPORTATION INC

Form 8-K for KNIGHT TRANSPORTATION INC


20-Mar-2014

Change in Directors or Principal Officers


Item 5.02(e) Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On March 14, 2014, the Compensation Committee (the "Compensation Committee") of the Board of Directors of Knight Transportation, Inc. (the "Company") granted its named executive officers and other participants restricted stock units ("RSUs") under the Company's 2012 Equity Compensation Plan (the "2012 Plan"). The RSUs are tentative and subject to adjustment based on the Company's performance. The RSU grants were made under a new policy adopted by the Compensation Committee intended to align performance goals for equity grants with the Company's long-term growth and revenue objectives. Participants receive a grant of RSUs based on a compensation target established by the Committee after taking into account competitive compensation factors which is then divided by the market value of the Company's stock as of the date of grant. The number of shares of Common Stock ultimately deliverable to participants will vary based on the Company's performance for a three-year performance period against the metrics established by the Compensation Committee. The initial performance period began on January 1, 2014 and runs through December 31, 2016. The awards vest and shares are deliverable to each participant on the second January 31st following the expiration of the performance period. RSU grants made to the Company's named executive officers were:

               Name              Position                Tentative
                                                         RSU Award
               Kevin Knight      Chief Executive              66,342
                                 Officer
               Keith Knight      Chief Operating              17,691
                                 Officer
               Dave Jackson      President                     8,846
               Adam Miller       Chief Financial               5,529
                                 Officer, Secretary
                                 and Treasurer

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