SWIFT TRANSPORTATION COMPANY (NYSE:SWFT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
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 Company’s Executive Vice President, Chief Financial Officer and Treasurer. The new compensation package was recommended by the Company’s 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. Henkel’s annual base salary, subject to the Company’s achievement of specified levels of financial performance, and (2) a long-term equity incentive award with a target goal equal to 150% of Ms. Henkel’s 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.

About SWIFT TRANSPORTATION COMPANY (NYSE:SWFT)

Swift Transportation Company (Swift Transportation Co.) is a multi-faceted transportation services company, which operates the fleet of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company operates in four segments: Truckload, Dedicated, Swift Refrigerated and Intermodal. The Truckload segment consists of one way movements over irregular routes throughout the United States, Mexico and Canada. The Company, through the Dedicated segment, devotes use of equipment to specific customers and offers personalized solutions under long-term contracts. The Company’s Swift Refrigerated segment primarily consists of shipments for customers that require temperature-controlled trailers. The Intermodal segment includes moving freight operations, including moving the freight over the rail in its containers and other trailing equipment, and drayage of transport loads between the railheads and customer locations.

SWIFT TRANSPORTATION COMPANY (NYSE:SWFT) Recent Trading Information

SWIFT TRANSPORTATION COMPANY (NYSE:SWFT) closed its last trading session up +0.24 at 20.91 with 3,378,447 shares trading hands.