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SAIA INC·4

Feb 17, 5:26 PM ET

Batteh Matthew J 4

4 · SAIA INC · Filed Feb 17, 2026

Research Summary

AI-generated summary of this filing

Updated

SAIA CFO Matthew Batteh Exercises Options, Sells 2,026 Shares

What Happened
Matthew J. Batteh, SAIA's Chief Financial Officer, exercised stock options and sold shares in open-market transactions on Feb 12–13, 2026. He exercised 1,110 shares at $100.20 ($111,222 total exercise cost) and promptly sold those 1,110 shares on Feb 12 at a weighted average price of $375.71 for $417,037. He also sold an additional 766 shares on Feb 13 at $388.94 ($297,928) and 150 shares on Feb 13 at $389.50 ($58,426). Total reported sale proceeds across the transactions were about $773,391. Separately, he was granted 1,658 restricted shares under the company’s long‑term incentive program.

Key Details

  • Transaction dates: Feb 12, 2026 (exercise + sale) and Feb 13, 2026 (additional open-market sales).
  • Prices and amounts: exercised 1,110 shares @ $100.20 (cost $111,222); sold 1,110 shares @ $375.71 (proceeds $417,037); sold 766 @ $388.94 (proceeds $297,928); sold 150 @ $389.50 (proceeds $58,426). Total sales ≈ $773,391.
  • Award: 1,658 restricted shares granted (no cash paid).
  • Shares owned after transactions: not specified in the filing.
  • Footnotes of note:
    • F1: Restricted shares are part of the long‑term incentive program; vest one‑third each year.
    • F3: Stock options granted under the same LTIP; vest one‑third each year.
    • F2: Feb 12 sale price is a weighted average of multiple trades (range $389.50–$389.53).
    • F4/F6: Filing references conversion/derivative details and phantom‑stock terms (conversion rate and payout rules); see filing for full technicals.
    • F5: “Immediate” noted in filing.
  • Filing timeliness: Report filed Feb 17, 2026, which is within the required SEC reporting window for these Feb 12 transactions.

Context

  • This looks like a common cashless exercise pattern: exercise of options followed by immediate sale of the resulting shares to cover costs/taxes or monetize gains. Such sales are often routine and do not necessarily signal a change in insider sentiment.
  • The filing includes derivative/phantom‑stock conversion language—these instruments can convert to a specific number of common shares or be payable in stock on termination; the filing’s footnotes contain the conversion ratios and payout conditions.
  • No indication in the filing of a 10% owner transaction, gift, or a 10b5‑1 plan; motivations are not stated and should not be assumed.

Insider Transaction Report

Form 4
Period: 2026-02-12
SAIA INCSAIA
Batteh Matthew J
Chief Financial Officer
Transactions
  • Award

    Common Stock

    [F1]
    2026-02-12+1,658→ 5,360 total
  • Exercise/Conversion

    Common Stock

    2026-02-12$100.20/sh+1,110$111,222→ 6,470 total
  • Sale

    Common Stock

    2026-02-12$375.71/sh−1,110$417,037→ 5,360 total
  • Sale

    Common Stock

    2026-02-13$388.94/sh−766$297,928→ 4,594 total
  • Sale

    Common Stock

    [F2]
    2026-02-13$389.50/sh−150$58,426→ 4,444 total
  • Exercise/Conversion

    Stock Options (Right to Buy)

    [F3]
    2026-02-12−1,110→ 0 total
    Exercise: $100.20Exp: 2027-02-06→ Common Stock (1,110 underlying)
Holdings

  • Phantom Stock

    [F4][F5][F6]
    → Common Stock (278.69 underlying)
    278.69

  • Stock Options (Right to buy)

    [F3]
    Exercise: $277.86Exp: 2029-02-07→ Common Stock (470 underlying)
    470

  • Stock Options (Right to buy)

    [F3]
    Exercise: $200.81Exp: 2028-02-11→ Common Stock (500 underlying)
    500
Footnotes (6)
  • [F1]Restricted shares granted as part of the long-term incentive program approved by the Compensation Committee. One-third of the restricted stock award vests each year on the anniversary of the grant date.
  • [F2]This transaction was executed in multiple trades at prices ranging from $389.50 USD to $389.53 USD; the price reported above reflects the weighted average sale price.
  • [F3]Stock Options granted as part of the long-term incentive program approved by the Compensation Committee. One-third of the award vests each year on the anniversary of the grant date.
  • [F4]The conversion rate of this derivative security on February 12, 2026 is 1.1534 resulting in 321.437 shares of common stock (underlying security in column 7).
  • [F5]Immediate
  • [F6]The shares of phantom stock become payable in the Company's common stock upon reporting person's termination of service as an employee, in accordance with the terms of the Plan.
Signature
/s/ Kelly W. Benton|2026-02-17

Documents

2 files
  • 4
    primarydocument.xmlPrimary

    PRIMARY DOCUMENT

  • EX-24
    mjbpoa.txt

    BATTEH POA