Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders' Equity

7. Stockholders’ Equity

Deferred Compensation Trust

The Saia Executive Capital Accumulation Plan (the Capital Accumulation Plan) allows plan participants to make an irrevocable election to invest in the Company’s common stock. Upon distribution, the funds invested in the Company’s common stock are paid out in Company stock rather than cash.

The following table summarizes the shares of the Company’s common stock that were purchased and sold by the Company’s rabbi trust, which holds the investments for the Capital Accumulation Plan:

	For The Years Ended December 31,
	2022		2021		2020
Shares of common stock purchased		12,117		5,580		16,660
Aggregate purchase price of shares purchased	$	3,253,577	$	1,268,370	$	1,274,641
Shares of common stock sold		36,762		2,841		68,759
Aggregate sale price of shares sold	$	10,370,165	$	802,030	$	9,722,577

Since the Capital Accumulation Plan requires the obligation to be settled in Company stock, the deferred compensation obligation is classified as an equity instrument, with no adjustments to operating results based on changes in fair value.

Directors’ Deferred Compensation

Under the Company’s Directors’ Deferred Fee Plan, non-employee directors may elect to defer all or a portion of their annual fees and retainers. Such deferrals are converted into units equivalent to the value of the Company’s stock. Upon the director’s termination, death or disability, accumulated deferrals are distributed in the form of Company common stock. The Company had 97,381 and 94,109 shares reserved for issuance under the Directors’ Deferred Fee Plan at December 31, 2022 and 2021, respectively. The shares reserved for issuance under the Directors’ Deferred Fee Plan are treated as common stock in computing basic earnings per share.