John H. Turner - 01 Mar 2022 Form 4 Insider Report for MARTEN TRANSPORT LTD (MRTN)

Role
EVP Sales & Marketing
Signature
/s/ James J. Hinnendael, attorney-in-fact
Issuer symbol
MRTN
Transactions as of
01 Mar 2022
Net transactions value
-$327,099
Form type
4
Filing time
03 Mar 2022, 16:47:50 UTC
Previous filing
28 Dec 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MRTN Common Stock Award $0 +6,059 +6.6% $0.000000 97,183 01 Mar 2022 Direct F1, F2
transaction MRTN Common Stock Tax liability $102,943 -5,947 -6.1% $17.31 91,236 01 Mar 2022 Direct F2
transaction MRTN Common Stock Tax liability $136,420 -7,881 -8.6% $17.31 83,355 01 Mar 2022 Direct F2, F3
transaction MRTN Common Stock Options Exercise $87,026 +9,661 +12% $9.01 93,016 03 Mar 2022 Direct F2
transaction MRTN Common Stock Sale $174,763 -9,661 -10% $18.09 83,355 03 Mar 2022 Direct F2, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MRTN Stock Option (right to buy) Options Exercise $0 -9,661 -100% $0.000000* 0 03 Mar 2022 Common Stock 9,661 $9.01 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Excludes shares that were previously reported as they vested based on service.
F2 Includes: (i) 4,572 shares granted under a Performance Unit Award Agreement that vest on 12/31/2022 through 12/31/2025; (ii) 1,491 shares granted under a Performance Unit Award Agreement that vest on 12/31/2022 through 12/31/2024; (iii) 2,010 shares granted under a Performance Unit Award Agreement that vest on 12/31/2022 through 12/31/2023; and (iv) 885 shares granted under a Performance Unit Award Agreement that vest on 12/31/2022.
F3 These shares were withheld to cover the estimated tax withholding obligations in connection with the issuance of 16,418 shares released from the Issuer's deferred compensation plan which terminated effective May 5, 2021.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.97 to $18.24, inclusive. The reporting person undertakes to provide to Marten Transport, Ltd., any security holder of Marten Transport, Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) to this Form 4.
F5 This option has fully vested.