Marten Transport Declares Dividend, Reports Officer Changes
Ticker: MRTN · Form: 8-K · Filed: May 10, 2024 · CIK: 799167
Sentiment: neutral
Topics: dividend, corporate-governance, officer-appointment
Related Tickers: MRTN
TL;DR
Marten Transport paying $0.04 dividend May 24, board changes, shareholder votes.
AI Summary
Marten Transport, Ltd. announced on May 7, 2024, a quarterly cash dividend of $0.04 per share, payable on May 24, 2024, to shareholders of record as of May 17, 2024. The company also reported on the election of directors and the appointment of certain officers, along with compensatory arrangements for these officers. Additionally, the filing details the submission of matters to a vote of security holders and includes financial statements and exhibits.
Why It Matters
This filing provides shareholders with key information regarding dividend payouts and corporate governance changes, impacting their investment decisions and understanding of the company's leadership.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate actions like dividend payments and board appointments, with no immediate financial distress or significant operational shifts indicated.
Key Numbers
- $0.04 — Quarterly Dividend Per Share (Amount to be paid to shareholders on May 24, 2024.)
Key Players & Entities
- Marten Transport, Ltd. (company) — Registrant
- May 7, 2024 (date) — Date of earliest event reported
- $0.04 (dollar_amount) — Quarterly cash dividend per share
- May 24, 2024 (date) — Dividend payment date
- May 17, 2024 (date) — Record date for dividend
FAQ
What is the amount of the quarterly cash dividend declared by Marten Transport, Ltd.?
Marten Transport, Ltd. declared a quarterly cash dividend of $0.04 per share.
When is the dividend payment date?
The dividend is payable on May 24, 2024.
What is the record date for the dividend payment?
Shareholders of record as of May 17, 2024, will receive the dividend.
What are the main items reported in this 8-K filing?
The filing reports on the departure/election of directors, appointment of officers, compensatory arrangements, submission of matters to a vote of security holders, and financial statements/exhibits.
What is the company's principal executive office address?
The principal executive offices are located at 129 Marten Street, Mondovi, Wisconsin 54755.
Filing Stats: 757 words · 3 min read · ~3 pages · Grade level 9.9 · Accepted 2024-05-10 16:03:25
Key Financial Figures
- $1,500 — 0 Non-employee directors also receive $1,500 for attendance at each Board meeting, $
- $750 — 0 for attendance at each Board meeting, $750 for each committee meeting attended and
Filing Documents
- mrtn20240509_8k.htm (8-K) — 61KB
- 0001437749-24-016000.txt ( ) — 192KB
- mrtn-20240507.xsd (EX-101.SCH) — 3KB
- mrtn-20240507_def.xml (EX-101.DEF) — 11KB
- mrtn-20240507_lab.xml (EX-101.LAB) — 15KB
- mrtn-20240507_pre.xml (EX-101.PRE) — 11KB
- mrtn20240509_8k_htm.xml (XML) — 3KB
02
Item 5.02 Compensatory Arrangements of Certain Officers. Compensatory Arrangements of Non-employee Directors On May 7, 2024, the Company's Compensation Committee also reviewed and approved the following fee schedule for non-employee directors effective as of May 1, 2024, which remains unchanged from the prior fee schedule: Annual Board Retainer $ 45,000 Lead Director 15,000 Audit Committee chair 15,000 Compensation Committee chair 10,000 Nominating/Corporate Governance Committee chair 10,000 Non-employee directors also receive $1,500 for attendance at each Board meeting, $750 for each committee meeting attended and reimbursement for out-of-pocket expenses related to attending meetings. Each non-employee director will also receive a grant of 3,500 shares of common stock in connection with re-election to the Board by the stockholders, which is an increase from the prior year's grant of 3,000 shares of common stock.
07
Item 5.07 Submission of Matters to a Vote of Security Holders. Marten Transport, Ltd. held its 2024 Annual Meeting of Stockholders on May 7, 2024. The final results of the stockholder vote on the business brought before the meeting are as follows: 1. To elect eight directors to hold office until the next Annual Meeting of Stockholders or until their successors are duly elected and qualified. Our stockholders duly elected all director nominees as follows: For Withheld Broker Non-Votes Randolph L. Marten 69,946,030 1,151,995 2,876,889 Larry B. Hagness 65,008,906 5,657,782 3,308,226 Thomas J. Winkel 66,127,176 4,539,512 3,308,226 Jerry M. Bauer 66,655,453 4,011,235 3,308,226 Robert L. Demorest 62,895,507 7,771,182 3,308,226 Ronald R. Booth 69,138,958 1,983,988 2,851,969 Kathleen P. Iverson 70,731,187 391,759 2,851,969 Patricia L. Jones 69,208,141 1,914,804 2,851,969 2 2. To consider and hold a vote on an advisory resolution to approve executive compensation. Our stockholders approved this proposal as follows: For Against Abstain Broker Non-Votes 70,379,466 718,355 25,124 2,851,969 3. To consider a proposal to ratify the selection of Grant Thornton LLP as our independent public accountants for the year ending December 31, 2024. Our stockholders approved this proposal as follows: For Against Abstain Broker Non-Votes 73,626,529 329,966 18,419 0 3 Section 9 – Financial Statements and Exhibits
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (a)
Financial Statements of Businesses Acquired
Financial Statements of Businesses Acquired . Not Applicable. (b) Pro Forma Financial Information . Not Applicable. (c) Shell Company Transactions . Not Applicable. (d) Exhibits . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 4
SIGNATURES
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 thereunto duly authorized. MARTEN TRANSPORT, LTD. Dated: May 10, 2024 By: /s/ James J. Hinnendael James J. Hinnendael Its: Executive Vice President and Chief Financial Officer 5