What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2024-02-23 compared with 2023-02-23 · 81 added, 85 removed, 182 unchanged (48% of the section changed)

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At December 31, 2023, Saia LTL Freight owned approximately 6,500 tractors and 22,100 trailers, including equipment acquired with finance leases.

In May 2017, Saia initiated a strategy to provide direct service to the portions of the continental United States not then serviced by the Company.

The focus began with the Northeast and includes additional investments in density and service in our legacy geographies.

Since that time the Company has opened 41 new terminals.

Over the past five years, Saia has invested in excess of $1 billion in capital expenditures, primarily for revenue equipment, real estate and technology.

These investments have reduced the age of Saia’s fleet, improved fuel economy, reduced carbon emissions, enhanced safety and supported Saia’s plans for additional volume growth.

Saia has also invested substantially in technology, training and business processes to enhance the Company’s ability to monitor and manage customer service, safety, operations and profitability.

In 2022, Saia generated revenue of $2.8 billion and operating income of $470.5 million.

In 2021, Saia generated revenue of $2.3 billion and operating income of $335.1 million.

Over the past five years, Saia has invested in excess of $1.5 billion in capital expenditures, primarily for real estate, revenue equipment and technology.

The real estate investments have been made to support Saia’s long-term strategy of expanding our footprint in both new and existing markets in order to be closer to our customers and support our goals to gain market share.

Equipment and technology investments have been made to support this growth as well as improve our fleet.

The investments have provided us improved fuel economy, enhanced safety features across the fleet and reduced carbon emissions.

We have also made investments in technology to support our growth, including investments in network optimization, data analytics around operations and profitability, customer service, training and business processes.

In January 2024 Saia closed on the purchase of 17 freight terminals and acquired leases for an additional 11 terminals through the Chapter 11 bankruptcy proceedings of Yellow Corporation.

Over time Saia intends to integrate these terminals into its network to allow for more direct service to the customer.

In 2023, Saia generated revenue of $2.9 billion and operating income of $460.5 million compared to revenue of $2.8 billion and operating income of $470.5 million in 2022.

In 2023, the average Saia LTL Freight shipment weighed approximately 1,386 pounds and traveled an average distance of approximately 894 miles.

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The trucking industry consists of three segments:

private fleets and two “for-hire”

carrier groups.

The private carrier segment consists of fleets owned and operated by shippers who move their own goods.

The two “for-hire”

carrier groups, truckload and LTL, are defined by the typical shipment sizes handled by the transportation service companies.

a private fleet segment and two “for-hire” carrier segments.

The private fleet segment consists of fleets owned and operated by shippers who move their own goods.

The two “for-hire” carrier segments, truckload and LTL, are defined by the typical shipment sizes handled by the transportation service companies.

Truckload refers to providers generally transporting shipments greater than 10,000 pounds and LTL refers to providers generally transporting shipments less than 10,000 pounds.

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LTL carriers typically pick up numerous shipments, generally ranging from 100 to 10,000 pounds, consolidate them at local carrier-operated freight terminals and then transport the shipments from the terminal to the carrier-operated destination terminal for delivery to the ultimate destination.

As a result, LTL carriers require expansive networks of pick-up and delivery operations around local freight terminals and linehaul operations to transport freight between the local terminals.

The truckload segment is the largest portion of the “for-hire”

truck transportation market.

As a result, LTL carriers require expansive

networks of pick-up and delivery operations around local freight terminals and linehaul operations to transport freight between the local terminals.

The truckload segment is the largest portion of the “for-hire” carrier market.

Truckload carriers primarily transport large shipments from origin to destination with no intermediate handling.

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Business Strategy

Saia has grown historically through a combination of organic growth and geographic integration or “tuck-in”

acquisitions of smaller trucking and logistics companies.

More recently Saia has grown largely through organic growth.

Saia has grown historically through a combination of organic growth and geographic integration or “tuck-in” acquisitions of smaller trucking and logistics companies.

In recent years, Saia has largely grown through organic growth, which it intends to continue going forward.

Key elements of our business strategy include:

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It is a corporate priority to continuously emphasize the importance of safe operations to reduce both the frequency and severity of injuries and accidents.

As part of our ongoing replacement and growth of the tractor fleet, we are adding accident avoidance technology in our new over-the-road tractors, including active braking assistance, adaptive cruise control, lane departure warning systems and roll stability control.

This emphasis on safe operations is focused not only on protecting our employees and the communities in which we operate, but with the continued escalation of commercial insurance and healthcare costs, it is important to maintain and improve stockholder returns.

As part of our ongoing replacement and growth of our tractor fleet, we are adding accident avoidance technology in our new over-the-road tractors, including active braking assistance, adaptive cruise control, lane departure warning systems and roll stability control.

This emphasis on safe operations is important to protect our employees and the communities in which we operate.

A safety first focus has the added benefit of helping to control inflationary insurance costs.

Manage pricing and business mix.

This element of our business strategy involves managing both the price we charge for our services and the mix of freight we transport to operate our network more profitably.

Changes in the economy coupled with the tightening of available capacity in the industry over the last several years allowed the Company to implement pricing initiatives to increase the Company’s yield and revenue per shipment.

Increase density in existing geographies.

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Continue to focus on delivering best-in-class service.

The foundation of Saia’s growth strategy is consistent delivery of high quality service through on-time delivery and reduced claims for lost and damaged freight.

Commitment to service quality is valued by customers and allows us to charge fair compensation for our services and positions us to improve market share.

The foundation of Saia’s growth strategy is consistent delivery of high quality service through on-time delivery and reduced claims for lost and damaged freight.

Customers value commitment to service quality, which allows us to charge fair compensation for our services and positions us to improve market share.

Continue to focus on improving operating efficiencies.

Saia has operating initiatives focused on continuing to improve efficiency, including by optimizing our linehaul scheduling and pick-up and delivery operations.

These initiatives help offset a variety of structural cost increases like wages, healthcare benefits, casualty insurance, workers’

compensation claims and casualty claims and parts and maintenance expense.

Optimizing our linehaul scheduling and pick-up and delivery operations provides the opportunity to better utilize assets and thus reduce fuel consumption and carbon emissions.

We believe Saia continues to be well positioned to manage costs and utilize assets.

We believe we will continue to see new opportunities for cost savings.

We have operating initiatives focused on continuing to improve efficiency, including optimizing our linehaul scheduling and pick-up and delivery operations.

These initiatives help offset a variety of structural cost increases like wages, healthcare benefits, casualty insurance, workers’ compensation claims, casualty claims and parts and maintenance expense.

Optimizing our linehaul scheduling and pick-up and delivery operations provides the opportunity to better utilize assets and thus improve fuel consumption and carbon emissions.

We believe we continue to be well positioned to manage costs, utilize assets and explore additional opportunities for cost savings.

Continue growing the organization through an enhanced geographic terminal footprint.

We plan to further pursue geographic expansion and build additional density in markets to promote profitable growth and improve our customer value proposition over time.

As a result, we plan to continue to invest in new terminals, in our tractor and trailer fleet and in new technology to enable us to efficiently handle the increased freight flows we anticipate to and from new and existing markets.

In addition to direct expansion through adding new terminals, management may consider acquisitions from time to time to help expand geographic reach and density while gaining the business base of the acquired entity.

As a result, we plan to continue to invest in new terminals, in our tractor and trailer fleet and in new technology to enable us to efficiently handle the increased volume we anticipate within new and existing markets.

In addition to direct expansion through adding new terminals, we may consider acquisitions from time to time to help expand geographic reach and density while gaining the business base of the acquired entity.

Continue to address environmental and social issues.

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In recent years, we have invested heavily in our tractor and trailer fleet to improve fuel efficiency and reduce carbon emissions, while also improving safety and reliability and lowering maintenance expenses.

We are also working to optimize our linehaul scheduling and pick-up and delivery operations to better utilize our assets and thus further reduce fuel consumption and carbon emissions.

We are also working to optimize our linehaul scheduling and pick-up and delivery operations to better utilize our assets and thus further improve fuel consumption and carbon emissions.

We are conducting pilot programs involving the use of alternative fuels for our operations, including testing of tractors powered by compressed natural gas and electricity.

The Company has procedures that are designed to reduce the risk of spills of hazardous materials we transport and to quickly and efficiently react to any environmental incidents.

At our terminals, we have implemented electricity-saving procedures and have conservation initiatives in place to recycle used oil, scrap metal, paper, tires and batteries.

Additionally, for new construction terminals we are using best practices of including green initiatives where possible.

Based on the most recently available rankings, for 2021, Saia continued to maintain high marks in the EPA’s SmartWay Carrier Performance Rankings for LTL carriers for carbon dioxide, nitrogen oxide and particulate matter emissions per ton-mile.

Saia has also participated in the EPA’s SmartWay Program since 2006, which assists companies with advancing supply chain sustainability by measuring, benchmarking and improving freight transportation efficiency.

We have procedures that are designed to reduce the risk of spills of hazardous materials that we transport and to quickly and efficiently react to any environmental incidents.

At our terminals, we have implemented electricity-saving procedures, and we have conservation initiatives in place to recycle used oil, scrap metal, paper, tires and batteries.

Additionally, we are using best practices of including green initiatives where possible in our newly constructed terminals.

Based on the most recently available rankings, for 2022, Saia continued to maintain high marks in the EPA’s SmartWay Carrier Performance Rankings for LTL carriers for carbon dioxide, nitrogen oxide and particulate matter emissions per ton-mile.

We have also participated in the EPA’s SmartWay Program since 2006, which assists

companies with advancing supply chain sustainability by measuring, benchmarking and improving freight transportation efficiency.

We are focused on maintaining strong relationships with our employees.

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Customers tend to reduce shipments after the winter holiday season, and our operating expenses tend to be higher as a percent of revenue in the winter months primarily due to lower capacity utilization and weather effects.

Generally, the first quarter is the weakest quarter while the second and

third quarters are the strongest quarters in terms of revenue and profit.

Generally, the first quarter is the weakest quarter while the second and third quarters are the strongest quarters in terms of revenue and profit.

Quarterly profitability is also impacted by the timing of salary and wage increases and general rate increases, which have varied over the years.

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These responsibilities include recruiting, hiring, training and retention, as well as the development of our compensation and benefits programs.

Our 12,300 union-free employees are comprised of about 50% licensed commercial drivers, about 24% dock workers (approximately one-quarter of whom are part-time) and the remaining 26% work in sales, technology and administration to support our business.

Of Saia’s workforce, approximately 88% are male.

Approximately 51% of all employees have self-identified as Hispanic or Latino, Native American, Pacific Islander, Asian, Black or African American, or of two or more races.

Additionally, nearly 78% of our workforce is under the age of 55, while our driver average tenure is eight years.

Our nearly 14,000 union-free employees are comprised of about 50% licensed commercial drivers, about 25% dock workers (approximately one-quarter of whom are part-time) and the remaining 25% work in sales, technology and administration to support our business.

Approximately 88% of our workforce is male.

Approximately 46% of our employees have self-identified as Hispanic or Latino, Native American, Pacific Islander, Asian, Black or African American, or of two or more races.

Additionally, more than 75% of our workforce is under the age of 55, while our driver average tenure is seven years.

As the success of our business is fundamentally connected to the well-being of our people, we offer benefits that support their physical, financial and emotional well-being.

We provide our employees with access to affordable and convenient medical programs intended to meet their physical and emotional needs and the needs of their families, with 94% of employees participating.

We provide our employees with access to affordable and convenient medical programs intended to meet their physical and emotional needs and the needs of their families, with 95% of employees participating in our benefits programs.

To foster retention, employees with ten or more years of service do not pay premiums for participation in the medical program.

In addition to standard medical coverage, we offer eligible employees dental and vision coverage.

Additionally, Saia strives to help employees lead healthier lives through a voluntary wellness program aimed at engaging employees to promote proactive evaluation, tracking and management of major health and wellness indicators, such as blood pressure, weight, and routine blood laboratory analysis.

Additionally, we strive to help employees lead healthier lives through a voluntary wellness program aimed at engaging employees to promote proactive evaluation, tracking and management of major health and wellness indicators, such as blood pressure, weight, and routine blood laboratory analysis.

The program has an annual participation rate of approximately 78% of our employee base.

As an added benefit for employees, we offer a 401(k) savings plan with a Company match as well as paid vacation and personal days.

These benefits are in addition to the Company’s market-based compensation program designed to maintain competitive compensation packages for all employees.

We assess the competitiveness of our compensation by principal job classifications in markets across the country through periodic compensation surveys.

Company-wide wage increases are also implemented from time-to-time, including one during 2022, which awarded 4.3% to employees in July 2022.

Company-wide wage increases are also implemented from time-to-time, including an approximate 4.1% wage increase in July 2023, excluding executives.

In recent years, due to competition for quality employees, the compensation divide between union and non-union carriers has closed dramatically.

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Recruiting, Hiring, Training and Professional Development.

We seek to hire employees with the desire they spend their career with us to retirement.

We seek to hire employees with the desire that they spend their career with us to retirement.

With that in mind, identifying qualified candidates and attracting them with competitive compensation and benefits is key to our success.

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If necessary, and to attract the most qualified candidates, we offer periodic signing bonuses to new hires.

We have more than 300 driver trainers, who assist in providing all new drivers with over 40 hours of training.

Saia annually trains drivers in defensive driving processes with emphasis on special operations in addition to weekly safety training through various mediums, including videos and group and individual presentations on diverse safety topics.

Saia’s tractor fleet is equipped with extensive safety technology, including video recording systems which enable managers to provide coaching and feedback to drivers throughout the year.

More than 300 of our drivers also serve as driver trainers to assist in providing all new drivers with over 40 hours of training.

We annually train drivers in defensive driving processes with emphasis on special operations in addition to weekly safety training through various mediums, including videos and group and individual presentations on diverse safety topics.

Our tractor fleet is equipped with extensive safety technology, including video recording systems which enable managers to provide coaching and feedback to drivers throughout the year.

Our dock employees also receive onboarding instruction which is supplemented with on-going safety and job training.

Employees who express an interest in a long-term driving career can enroll in a Company-sponsored dock-to-driver program to obtain the

necessary commercial driver certifications.

Annual safety awards and recognition are given to both drivers and dock employees who qualify.

Diversity and Inclusion.

Saia is committed to fostering a work environment that values and promotes diversity and inclusion.

Employees who express an interest in a long-term driving career can enroll in a Company-sponsored dock-to-driver program to obtain the necessary commercial driver certifications.

Annual safety awards and recognition are given to drivers, mechanics and dock employees who qualify.

Diversity, Equity and Inclusion.

We are committed to fostering a work environment that values and promotes diversity, equity and inclusion.

We pride ourselves in the fair treatment of our employees and strive to have a high level of employee satisfaction and productivity.

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We seek to promote workplace diversity and to create a spirit of inclusivity in our Company that encourages authenticity, celebrates our differences and supports collaborative effort gathered from the unique experiences and diverse perspectives of our employees.

In 2021, we launched a Diversity Council offering a cross-functional employee perspective of diversity-related issues within our Company.

The goal of the leaders in our Company and of the Council is to promote a culture where individual differences are respected and all employees are valued for the skills and contributions they bring to the business.

The Council is responsible for continually examining the processes and systems in place to ensure that attraction, engagement, development and retention of a diverse workforce is encouraged by inclusive leadership principles.

Saia's commitment to diversity, equity, and inclusion is a cornerstone of our organizational culture, exemplified by the establishment of the Diversity, Equity, and Inclusion Council in 2021 and later transitioning to a Diversity, Equity, and Inclusion Steering Committee emphasizing the enhancement of representation, retention, and overall engagement within Saia.

Our Steering Committee embodies a cross-functional perspective on diversity-related issues, striving to promote a culture where individual differences are respected, and all employees are valued for their contributions.

Through continuous examination of processes and systems, the Committee ensures the encouragement of attraction, engagement, development, and retention of a diverse workforce through inclusive leadership principles.

Employee Engagement.

We focus on driving employee engagement throughout our organization.

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We communicate with our workforce through a variety of channels and encourage open and direct communication.

Saia communication starts with an employee’s manager and is supplemented by a variety of means, including regular industry updates, a monthly magazine, reports on quarterly performance directly from the CEO and executive team and annual employee engagement surveys.

Our communication starts with an employee’s manager and is supplemented by a variety of means, including regular industry updates, a monthly magazine, reports on quarterly performance directly from the CEO and executive team and annual employee engagement surveys.

Corporate Culture.

Saia’s mission is to safely drive our customers' success with custom solutions built on the three pillars of our service-focused values:

Our mission is to safely drive our customers' success with custom solutions built on the three pillars of our service-focused values:

people, purpose and performance.

Our core values place the Customer First as they are the heart of the business.

Safety is a unifying fundamental behavior and practice that supports our Company’s purpose and goals.

Taking Care of Each Other is rooted in our leadership team caring for our employees and our employees caring for each other.

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The larger the service area, the greater the barriers to entry into the LTL trucking segment due to the need for additional equipment and freight terminals associated with this coverage.

technology investment required and density needed to provide adequate labor and asset utilization make larger-scale entry into the LTL market difficult.

The level of technology investment required and density needed to provide adequate labor and asset utilization make larger-scale entry into the LTL market difficult.

Saia also competes against several modes of transportation, including truckload and private fleets, small package carriers, final mile delivery services, railroads, air freight carriers, third party logistics providers and other emerging digital competitors.

Over the past 40 years, the trucking industry has been substantially deregulated and rates and services are largely free of regulatory controls.

Nevertheless, the trucking industry remains subject to regulation by many federal and state governmental agencies, and these authorities have broad powers over matters ranging from the authority to engage in motor carrier operations, motor carrier registration, driver hours of service, safety and fitness of transportation equipment and drivers, insurance requirements, fuel efficiency and emissions standards, and the transportation and handling of hazardous materials.

Nevertheless, the trucking industry remains subject to regulation by many federal, state and local governmental agencies, and these authorities have broad powers over matters ranging from the authority to engage in motor carrier operations, motor carrier registration, driver hours of service, safety and fitness of transportation equipment and drivers, insurance requirements, employment practices, taxation, data privacy and security, financial reporting, fuel efficiency and emissions standards and the transportation and handling of hazardous materials.

Key areas of regulatory activity include:

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Revisions to these rules could further impact our operations, further tighten the market for qualified drivers and put additional pressure on driver wages and purchased transportation costs.

The FMCSA’s Compliance Safety Accountability Program (CSA) is an enforcement and compliance model that assesses a motor carrier’s on-road performance and investigation results for a 24-month period using roadside stops and inspections, resulting in safety and performance ratings in the following categories:

unsafe driving;

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and crash indicators.

The evaluations are used to rank carriers and individual drivers and to select carriers for audit and other interventions.

The FMCSA established the Commercial Driver’s License Drug and Alcohol Clearinghouse in 2020, which is a database that discloses drug and alcohol violations of commercial motor vehicle drivers.

The clearinghouse requires us to check for current and prospective employee’s drug and alcohol violations and annually query for violations of each driver we employ.

The Infrastructure Investment and Jobs Act signed into law in 2021 required the FMCSA to establish an apprenticeship pilot program that allows drivers between the ages of 18-20 with an intrastate commercial driver’s license to operate in interstate commerce under certain conditions.

The evaluations are used to rank carriers and individual drivers and to select carriers for audit and other interventions or enforcement action.

The FMCSA established the Commercial Driver’s License Drug and Alcohol Clearinghouse (DAC) in 2020, which is a database that discloses drug and alcohol violations of commercial motor vehicle drivers.

The DAC requires us to check for current and prospective employee’s drug and alcohol violations and annually query for violations of each driver we employ.

In November 2023, the FMCSA issued a warning that by November 2024, drivers with a prohibited status in the DAC will lose or be denied their state issued commercial driving privileges.

The Infrastructure Investment and Jobs Act signed into law in 2021 requires the FMCSA to establish an apprenticeship pilot program that allows drivers between the ages of 18-20 with an intrastate commercial driver’s license to operate in interstate commerce under certain conditions.

In response to this requirement, the FMCSA established the Safe Driver Apprenticeship Pilot Program (SDAP) in January 2022.

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Regulation in this area continues to evolve with changes in the enforcement of existing regulations, as well as the enactment and enforcement of new regulations that may require us or our customers to modify, supplement or replace equipment or facilities or to change or discontinue present methods of operation.

Specifically, the EPA has issued regulations reducing sulfur content of diesel fuel and reducing engine emissions.

Specifically, the EPA has issued regulations reducing the sulfur content of diesel fuel and reducing engine emissions.

These regulations increased the cost of replacing and maintaining trucks.

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Our operations involve the risks of fuel spillage or seepage, environmental damage and hazardous waste disposal and costs associated with the leakage or discharge of hazardous materials we transport for our customers, among others.

Although we have programs in place designed to monitor and control environmental risks and to promote compliance with applicable environmental laws and regulations, violations of applicable environmental laws or regulations or spills or other accidents involving hazardous substances can still occur and may subject us to cleanup costs, liabilities not covered by insurance, substantial fines or penalties and to civil and criminal liability, any of which could adversely affect our financial condition, results of operations, liquidity and cash flows.

Violations of applicable environmental laws or regulations or spills or other accidents involving hazardous substances may subject us to cleanup costs, liabilities not covered by insurance, substantial fines or penalties and to civil and criminal liability, any of which could adversely affect our financial condition, results of operations, liquidity and cash flows.

The EPA and DOT have announced fuel efficiency standards for medium and heavy-duty trucks, which require a reduction of up to 25 percent in carbon emissions over the next decade.

In August 2021, the EPA announced its “Clean Trucks Plan,”

which aimed to develop new rules over a three year timeframe to reduce greenhouse gas emissions and other air pollutants from heavy-duty trucks.

In August 2021, the EPA announced its “Clean Trucks Plan,” which aimed to develop new rules over a three-year timeframe to reduce greenhouse gas emissions and other air pollutants from heavy-duty trucks.

In December 2022, the EPA finalized the first phase of the Clean Trucks Plan by adopting a final rule that sets more stringent nitrogen oxides emission standards for new heavy-duty vehicles and engines starting in model year 2027.

This rule could impose substantial costs on us.

The EPA plans to release the proposals for the remaining two phases of the Clean Trucks Plan in 2023, which include the development of new greenhouse gas emissions standards for new heavy-duty engines and vehicles beginning in model year 2027.

In December 2021, the California Air Resources Board (CARB) adopted more stringent standards to reduce nitrogen oxide emissions by heavy-duty engines.

In April 2023, the EPA proposed a new rule under the Clean Trucks Plan that would implement more stringent standards to reduce greenhouse gas emissions from heavy-duty vehicles by reducing carbon emissions and increasing use of zero-emission vehicle technology.

Several states have individually enacted and may continue to enact legislation relating to engine emissions, trailer regulations, fuel economy, and/or fuel formulation, such as regulations enacted by the California Air Resources Board (CARB).

In December 2021, CARB adopted more stringent standards to reduce nitrogen oxide emissions by heavy-duty engines.

CARB has also adopted regulations to accelerate large-scale transition in California to zero-emission medium and heavy-duty trucks, including trucks of a type used in our operations in California.

CARB’s Advanced Clean Truck regulation is designed to ensure that zero-emission vehicles are brought to market in California.

That regulation requires manufacturers to sell zero-emission trucks as an increasing percentage of their annual California sales starting with model year 2024.

By 2035, zero-emission truck/chassis sales must account for 40% of truck tractor sales in the state.

CARB has also proposed the Advanced Clean Fleets regulation that would mandate that operators of 50 or more trucks must operate fleets comprised of an increasing percentage of zero-emission vehicles.

As proposed, the phase-in period would be from 2027 to 2045, depending on the class of vehicle.

In April 2023, CARB adopted the Advanced Clean Fleets regulation mandating that operators of 50 or more trucks must operate fleets comprised of an increasing percentage of zero-emission

The regulation includes a phase-in period from 2027 to 2045, depending on the class of vehicle.

Other states have signed a multi-state agreement to require 100% sales of zero-emission trucks by 2050.

Food and Drug Administration.

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The FDA has issued a final rule to establish certain requirements under the Sanitary Food and Transportation Act (SFTA) for vehicles and transportation equipment, transportation operations, training, recordkeeping and waivers.

The rule is designed to promote the continuance of best practices in the industry concerning cleaning, inspection, maintenance, loading and unloading of, and operation of vehicles.

The rule is designed to promote best practices in the industry concerning cleaning, inspection, maintenance, loading and unloading of, and operation of vehicles.

Under the SFTA requirements, carriers are required to develop and implement written procedures subject to recordkeeping that specify its practices for cleaning, sanitizing, and inspecting vehicles and transportation equipment.

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and other countries.

As a transportation and logistics provider, we collect and process significant amounts of customer data on a daily basis.

Complying with data protection laws may increase our compliance costs or require alterations to our data handling practices.

Violations or noncompliance could result in significant fines or settlements from governmental or consumer actions and negative impacts to our reputation, operating results and financial condition.

As a transportation and logistics provider, we collect and process significant amounts of customer data.

Trademarks and Patents

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Col joined the Company in 2014 as Treasurer and continued in that role until January 2020.

Col has also served as the Company’s Secretary since February 2019.

Executive Vice President of Operations of Saia, Inc.

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Officers are appointed by the Board of Directors of Saia, Inc.

(the Board) and serve at the discretion of the Board.

and serve at the discretion of the Board.

With the exception of Mr.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business