8-KLeadership Changes

OLD DOMINION FREIGHT LINE, INC. 8-K Report, Executive Changes (Jul 5, 2011)

Filed July 5, 2011For Securities:ODFL

Summary

This 8-K filing from Old Dominion Freight Line, Inc. (ODFL) on July 5, 2011, announces a significant internal promotion. Greg C. Gantt, who has been with the company since 1994 and most recently served as Senior Vice President – Operations, has been appointed Executive Vice President and Chief Operating Officer, effective June 30, 2011. This appointment reflects a continued focus on internal leadership development and operational expertise within the company's executive ranks. In conjunction with his new role, Mr. Gantt's compensation has been adjusted. His annualized base salary has increased to $375,000 from $310,000, and his participation factor in the company's Performance Incentive Plan (PIP) has been enhanced. These adjustments underscore the company's commitment to retaining and incentivizing key management talent, particularly in crucial operational leadership positions, which is vital for sustained performance in the transportation and logistics sector.

Key Highlights

  • 1Greg C. Gantt appointed Executive Vice President and Chief Operating Officer, effective June 30, 2011.
  • 2Mr. Gantt has an extensive history with Old Dominion Freight Line, Inc. (ODFL), joining in 1994 and serving in various operational leadership roles.
  • 3Annualized base salary for Mr. Gantt increased from $310,000 to $375,000.
  • 4Participation factor in the Performance Incentive Plan (PIP) increased from 0.28% to 0.35% of pre-tax income.
  • 5The compensation adjustments are effective June 30, 2011, and July 2011, respectively.
  • 6Mr. Gantt will continue to report to David S. Congdon, President and CEO.
  • 7The filing details no other significant changes in officers or directors.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce the appointment of Greg C. Gantt as Executive Vice President and Chief Operating Officer of Old Dominion Freight Line, Inc., and to disclose the associated changes in his compensation.

Mr. Gantt's annualized base salary has been increased from $310,000 to $375,000. Additionally, his participation factor in the Performance Incentive Plan (PIP) has been raised from 0.28% to 0.35% of the Company's pre-tax income, effective with the July 2011 financial results.

Greg C. Gantt has a long tenure with Old Dominion Freight Line, Inc., having joined the company in 1994. He has held various significant operational roles, including Senior Vice President – Operations since 2002.

No, this specific 8-K filing focuses solely on the appointment of Greg C. Gantt and the related compensation adjustments. It does not report any other departures, elections, or appointments of directors or other officers.