8-KLeadership ChangesOther EventsExhibits & Filings

OLD DOMINION FREIGHT LINE, INC. 8-K Report, Executive Changes (Apr 30, 2018)

Filed April 30, 2018For Securities:ODFL

Summary

Old Dominion Freight Line, Inc. (ODFL) announced a significant leadership change through an 8-K filing on April 30, 2018. The company has appointed Kevin M. “Marty” Freeman, currently Senior Vice President of Sales, to the position of Executive Vice President and Chief Operating Officer, effective May 16, 2018. This promotion underscores the company's strategy of promoting from within and leveraging existing talent to fill critical executive roles. Mr. Freeman has a long tenure with ODFL, having joined in February 1992 and held various sales and management positions, including Senior Vice President of Sales since 2011. His extensive experience in customer relations, sales, and operations is expected to be instrumental in his new role overseeing the company's operational functions. Investors should note the compensation details, including a base salary of $385,000 and a 0.30% participation factor in the Performance Incentive Plan, along with continued eligibility for restricted stock awards.

Key Highlights

  • 1Appointment of Kevin M. “Marty” Freeman as Executive Vice President and Chief Operating Officer, effective May 16, 2018.
  • 2Mr. Freeman has been with Old Dominion Freight Line since February 1992, demonstrating strong internal growth and leadership development.
  • 3His previous role was Senior Vice President - Sales, indicating deep experience in customer-facing and revenue-generating aspects of the business.
  • 4New annual base salary for Mr. Freeman will be $385,000, effective June 1, 2018.
  • 5Mr. Freeman will have a 0.30% participation factor in the Company’s Performance Incentive Plan.
  • 6He will continue to be eligible for annual restricted stock awards under the company's 2016 Stock Incentive Plan.
  • 7No undisclosed arrangements, family relationships, or material transactions requiring disclosure under Regulation S-K.

Frequently Asked Questions

Kevin M. “Marty” Freeman has been appointed as the Executive Vice President and Chief Operating Officer, effective May 16, 2018.

Mr. Freeman has a long history with ODFL, joining in February 1992. He has held various roles, including Vice President of Field Sales and most recently Senior Vice President - Sales since January 2011. He has progressively taken on more management responsibilities in sales and operations.

Effective June 1, 2018, his annual base salary will be $385,000. He will also have a 0.30% participation factor in the Company's Performance Incentive Plan and will remain eligible for annual restricted stock awards under the company's incentive plan.

The filing states there are no arrangements or understandings under which he was selected, no family relationships with directors or other officers, and no transactions requiring disclosure under Item 404(a) of Regulation S-K.