Major owner of Heartland Express just sold 946,624 shares

Michael J Gerdin, a major owner of Heartland Express and Heartland Express's Chief Executive Officer and a director of the company, recently sold 946,624 shares of the company. The sales took place at $0.00 per share (and therefore, likely the result of option or restricted share grants), on January 15, 2014. Gerdin still owns 29,643,278 shares of the company. Gerdin operates out of North Liberty, IA. Some additional info was provided as follows:

An annuity distribution of 946,624 shares was made from a grantor retained annuity trust created for the benefit of Ann Gerdin. The reporting person serves as trustee over this GRAT and has no pecuniary interest other than in the remainder interest, if any. As trustee, Mr. Gerdin has voting and dispositive powers with respect to the GRAT. This transaction does not constitute a gift to the reporting person. Benefical ownership is disclaimed. The reporting person is one of the beneficiaries of the 2009 Gerdin Heartland Trust. Mr. Gerdin does not have voting and dispositive powers with respect to this trust. Lawrence D. Crouse serves as trustee. Beneficial ownership is disclaimed. The reporting person is trustee over shares held by trusts created for the benefit of his children. As trustee, Mr. Gerdin has shared voting and dispositive powers with respect to each trust. Beneficial ownership is disclaimed. The reporting person is one of the beneficiaries of the 2005 Gerdin Children's Trust. Mr. Gerdin does not have voting and dispositive powers with respect to this trust. Lawrence D. Crouse serves as trustee. Beneficial ownership is disclaimed. The reporting person is one of the beneficiaries of the 2007 Gerdin Heartland Trust. Mr. Gerdin does not have voting and dispositive powers with respect to this trust. Lawrence D. Crouse serves as trustee. Benefiicial ownership is disclaimed.

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here. Heartland Express next reports earnings on January 20, 2014.

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