ITEM 8.01 OTHER EVENTS
Knight-Swift Announces Share Repurchase Plan
OnApril 25, 2022 , the Board of Directors (the "Board") ofKnight-Swift Transportation Holdings Inc. , aDelaware corporation (the "Company"), approved the repurchase of up to$350 million of the Company's outstanding common stock (the "2022 Knight-Swift Repurchase Plan"). With the adoption of the 2022 Knight-Swift Repurchase Plan, the Company terminated the$250 million repurchase plan previously approved by the Board inNovember 2020 (the "2020 Knight-Swift Repurchase Plan"). Since its adoption, the Company purchased approximately$207.2 million or 4.2 million shares, including approximately$149.9 million or 2.8 million shares during 2022, of its common stock under the 2020 Knight-Swift Repurchase Plan, leaving less than$42.8 million in remaining purchase authorization upon termination. The Company intends to repurchase shares of common stock under the 2022 Knight-Swift Repurchase Plan when it is opportune to do so, using a variety of methods, which may include but is not limited to open market purchases, block trades, the implementation of a 10b5-1 plan, and/or any other available methods in accordance withSecurities and Exchange Commission and other applicable legal requirements. The timing, prices, and volume of purchases will depend upon prevailing stock prices, the Company's leverage ratio, general economic and market conditions, and other considerations. The 2022 Knight-Swift Repurchase Plan does not obligate the Company to repurchase or otherwise acquire any of its common stock. The 2022 Knight-Swift Repurchase Plan may be suspended, modified, or discontinued at any time and without notice, at the Board's discretion.
Knight-Swift Announces Quarterly Cash Dividend
On
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits Exhibit Description Exhibit 99Knight-Swift Transportation Holdings Inc.
press release dated
2022, announcing share repurchase plan and quarterly cash dividend Exhibit 104 Cover Page Interactive Data File (embedded
within the Inline XBRL document)
The information in this report and the exhibit hereto may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. All statements, other than statements of historical or current fact, are statements that could be deemed forward-looking statements, including, without limitation, statements relating to our declaration of quarterly dividends. Forward-looking statements are based on the current beliefs, assumptions, and expectations of management and current market conditions. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. There can be no assurance that future dividends will be declared or as to the timing or amount of repurchases. The declaration of future dividends and future stock repurchases is subject to approval requirements and various risks and uncertainties, including, but not limited to: our cash flow and cash needs; compliance with applicable laws; restrictions under existing or future financing arrangements; changes in tax laws relating to corporate dividends; deterioration in our financial condition or results; and those risks, uncertainties, and other factors identified from time-to-time in our filings with theSecurities and Exchange Commission . In Item 8.01 of this report, the statements regarding the 2022 Knight-Swift Repurchase Plan are forward-looking statements. Please refer to the last paragraph of the press release and various disclosures by the Company in its press releases, stockholder reports, and filings with theSecurities and Exchange Commission for information concerning risks, uncertainties, and other factors that may affect future results.
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