UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported) February 28, 2017
SWIFT TRANSPORTATION COMPANY
(Exact Name of Registrant as Specified in Charter)
Delaware | 001-35007 | 20-5589597 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
2200 South 75th Avenue, Phoenix, Arizona | 85043 | |
(Address of Principal Executive Offices) | (Zip Code) |
(602) 269-9700
(Registrants telephone number, including area code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 5.02 | DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS |
On February 28, 2017, the Compensation Committee of the Board of Directors of Swift Transportation Company (the Company) approved a new compensation package for Virginia Henkels, the Companys Executive Vice President, Chief Financial Officer and Treasurer. The new compensation package was recommended by the Companys compensation consultant, Pearl Meyer and Partners, LLC. For 2017, Ms. Henkels will receive an annual base salary of $400,000. In addition, Ms. Henkels will receive (1) a short-term annual cash incentive bonus with a target award equal to 75% of Ms. Henkels annual base salary, subject to the Companys achievement of specified levels of financial performance, and (2) a long-term equity incentive award with a target goal equal to 150% of Ms. Henkels annual base salary. The long-term equity incentive award will be comprised of three components: (i) stock options; (ii) time-based restricted stock units; and (iii) performance units. The vesting of the performance units is subject to the Company achieving specified levels of financial performance.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: March 10, 2017
SWIFT TRANSPORTATION COMPANY | ||
/s/ MICKEY R. DRAGASH | ||
By: | Mickey R. Dragash | |
Executive Vice President, General Counsel and Secretary |
M@MO]B(Y_.+D[[]K_P"T'[D?AV?.F4;E
M NJQ9KV]DZ\^<,GCZ)[$)'LWCB-5,LP5=EBXYB=Q\(L;K(4YA*4^QMMP =5:
MR<>X5C==]IV"TT=)<=A1XC3>U6U7M)GZ#+6*1>^0\UR6A^S+[=*JJH"L*+;B
MYI*D^R92[(F7\*/B]RARESI2.0%^J 17G&J[[2L-4Y2U^PI\1L@*VF1(!(,IR$Y:_-';-6
M"YY4N!Y28?3=ZO5I=L6@'315EY^<>E0;QL:R9L(Y Z[IQV$4D444$A'8H%*7
M?79;[;:<(LFS)NT;(@Z=?B*"!-
MSG#<1'5*L.+8_B[3S6.T3%&W4.>(Z&D[?$
5M8
MIFFEK??6= AIM)*E$D@3E($@=2 :Z2.1LQS-RD;)7\4S>+*0_<. 8T?%-=KU
M GG4(H8Q&\;9;[6X& L9@7:"!716(LR+B)O=*4=@LC.^>;?BUG