Adam Daniel Phillips - 20 Feb 2026 Form 4 Insider Report for MARTEN TRANSPORT LTD (MRTN)

Role: EVP & Chief Operating Officer
Signature: /s/ James J. Hinnendael, attorney-in-fact
Issuer symbol: MRTN
Transactions as of: 20 Feb 2026
Net transactions value: -$15,721
Form type: 4
Filing time: 23 Feb 2026, 16:25:10 UTC
Previous filing: 08 May 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Phillips Adam Daniel	EVP & Chief Operating Officer	C/O MARTEN TRANSPORT, LTD., 129 MARTEN STREET, MONDOVI	/s/ James J. Hinnendael, attorney-in-fact	23 Feb 2026	0002005041

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MRTN	Common Stock	Tax liability	$15,721	-1,131	-9.6%	$13.90	10,623	20 Feb 2026	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Of the 2,596 shares that vested, this number of shares were withheld in exchange for payment of employee taxes. All vested shares were previously reported as they vested based on service.
F2	Includes: (i) 4,098 shares granted under a Performance Award Agreement that vest on 12/31/2026 through 12/31/2029; (ii) 2,314 shares granted under a Performance Award Agreement that vest on 12/31/2026 through 12/31/2028; (iii) 600 shares granted under a Performance Award Agreement that vest on 12/31/2026 through 12/31/2027; and (iv) 300 shares granted under a Performance Award Agreement that vest on 12/31/2026.

Content

Of the 2,596 shares that vested, this number of shares were withheld in exchange for payment of employee taxes. All vested shares were previously reported as they vested based on service.

Includes: (i) 4,098 shares granted under a Performance Award Agreement that vest on 12/31/2026 through 12/31/2029; (ii) 2,314 shares granted under a Performance Award Agreement that vest on 12/31/2026 through 12/31/2028; (iii) 600 shares granted under a Performance Award Agreement that vest on 12/31/2026 through 12/31/2027; and (iv) 300 shares granted under a Performance Award Agreement that vest on 12/31/2026.