ITEM 7.01 REGULATION FD DISCLOSURE
On March 23, 2020, we issued a news release announcing we would provide a
one-time bonus of $500 for employee drivers and certain personnel at field
operations and customer facilities supporting the drivers who have kept the
country's freight moving during the COVID-19 pandemic. Accordingly, we will
incur a $12.3 million pre-tax charge in the first quarter 2020 in salaries,
wages and employee benefits related to these bonuses. A copy of the news release
is attached as Exhibit 99.1 and is incorporated herein by reference.
In addition, during the first quarter 2020, we will record an $8.2 million
pre-tax accrual related to our adjusted calculation of the revenue divisions
owed to BNSF Railway Company for 2019 under the final award in our arbitration
with BNSF, which is recorded in rents and purchased transportation expense.
Also, in the first quarter 2020, we expect to record $3.4 million of additional
stock compensation expense in salaries, wages and employee benefits, related to
the acceleration of equity award vesting for two executive vice presidents due
to their retirements.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits.
99.1 News release dated March 23, 2020, issued by J.B. Hunt Transport Services,
Inc.
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