Old Dominion Freight Line Inc. filed SEC Form 8-K: Leadership Update, Submission of Matters to a Vote of Security Holders, Other Events, Financial Statements and Exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 15, 2024, the Board of Directors (the “Board”) of Old Dominion Freight Line, Inc. (the “Company”) elected Clayton G. Brinker to serve as Vice President – Accounting and Finance of the Company and designated Mr. Brinker as the principal accounting officer of the Company, each effective August 2, 2024 (the “Effective Date”). As previously disclosed, Kimberly S. Maready, who currently serves as Vice President – Accounting and Finance of the Company and is designated as the principal accounting officer of the Company, notified the Company that she will be retiring from the Company on the Effective Date.
Mr. Brinker, age 39, is a certified public accountant and has served as Director – Financial Reporting since he joined the Company in March 2016. Prior to joining the Company, Mr. Brinker served as Corporate Controller – Solar Materials at SunEdison from January 2015 to March 2016. Prior to that role, Mr. Brinker served as a Manager at PricewaterhouseCoopers LLP, where he was employed from August 2008 to January 2015. There are no arrangements or understandings between Mr. Brinker and any other person pursuant to which he was selected as an officer. Mr. Brinker does not have any family relationship with any director or other executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer, and there are no transactions in which Mr. Brinker has an interest requiring disclosure under Item 404(a) of Regulation S-K.
Item 5.07. Submission of Matters to a Vote of Security Holders.
The Company held its Annual Meeting of Shareholders (the “Annual Meeting”) on May 15, 2024. The following matters, which are described in more detail in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 15, 2024, were voted upon by the Company’s shareholders at the Annual Meeting. The final voting results are reported below.
Proposal 1 – Election of Twelve Directors
Each of the following individuals were elected by the shareholders to serve as directors for one-year terms and until their respective successors have been elected and qualified or until their death, resignation, removal or disqualification or until there is a decrease in the number of directors, and received the number of votes set opposite their respective names:
Nominee |
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For |
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Withheld |
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Broker Non-Votes |
Sherry A. Aaholm |
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95,272,882 |
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2,326,892 |
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2,725,398 |
David S. Congdon |
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92,507,355 |
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5,092,419 |
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2,725,398 |
John R. Congdon, Jr. |
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93,058,554 |
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4,541,220 |
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2,725,398 |
Andrew S. Davis |
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97,044,567 |
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555,207 |
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2,725,398 |
Kevin M. Freeman |
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96,604,616 |
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995,158 |
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2,725,398 |
Bradley R. Gabosch |
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94,048,221 |
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3,551,553 |
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2,725,398 |
Greg C. Gantt |
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93,301,122 |
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4,298,652 |
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2,725,398 |
John D. Kasarda |
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89,583,739 |
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8,016,035 |
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2,725,398 |
Cheryl S. Miller |
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97,385,275 |
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214,499 |
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2,725,398 |
Wendy T. Stallings |
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96,594,000 |
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1,005,774 |
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2,725,398 |
Thomas A. Stith, III |
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94,242,014 |
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3,357,760 |
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2,725,398 |
Leo H. Suggs |
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90,469,639 |
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7,130,135 |
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2,725,398 |
Proposal 2 – Approval, on an Advisory Basis, of the Compensation of the Company's Named Executive Officers
The compensation of the Company’s named executive officers was approved, on an advisory basis, by the shareholders based on the following vote:
For |
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Against |
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Abstain |
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Broker Non-Votes |
94,432,207 |
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3,092,241 |
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75,326 |
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2,725,398 |
Proposal 3 – Approval of an Amendment to the Company’s Amended and Restated Articles of Incorporation to Increase the Number of Authorized Shares of the Company’s Common Stock
The amendment to the Company’s Amended and Restated Articles of Incorporation to increase the number of authorized shares of the Company’s common stock was approved by the shareholders based on the following vote:
For |
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Against |
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Abstain |
97,224,417 |
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3,075,641 |
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25,114 |
Proposal 4 – Ratification of the Appointment of the Company’s Independent Registered Public Accounting Firm
The ratification of the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2024 was approved by the shareholders based on the following vote:
For |
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Against |
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Abstain |
96,791,415 |
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3,482,856 |
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50,901 |
Proposal 5 – Shareholder Proposal
A shareholder proposal regarding greenhouse gas reduction targets was not approved by the shareholders based on the following vote:
For |
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Against |
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Abstain |
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Broker Non-Votes |
23,760,668 |
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73,487,605 |
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351,501 |
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2,725,398 |
Item 8.01. Other Events.
On May 20, 2024, the Company issued a press release announcing that the Board had declared a quarterly cash dividend of $0.26 per share of common stock, payable on June 19, 2024, to shareholders of record at the close of business on June 5, 2024. The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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.
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OLD DOMINION FREIGHT LINE, INC. |
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By: |
/s/ Kimberly S. Maready |
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Kimberly S. Maready |
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Vice President – Accounting & Finance |
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(Principal Accounting Officer) |
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Date: May 20, 2024