Stockholders' Equity

12 Months Ended

Dec. 31, 2017

6. 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 will be 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,
	2017		2016		2015
Shares of common stock purchased		8,220		11,530		56,325
Aggregate purchase price of shares purchased	$	390,542	$	291,349	$	2,226,675
Shares of common stock sold		4,717		10,694		83,961
Aggregate sale price of shares sold	$	271,417	$	322,928	$	3,380,448

Since the Capital Accumulation Plan provides for the obligation to be settled only 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 defer all or a portion of their annual fees and retainers which are otherwise payable. 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 has 228,423 and 253,413 shares reserved for issuance under the Directors’ Deferred Fee Plan at December 31, 2017 and 2016, respectively. The shares reserved for issuance under the Directors’ Deferred Fee Plan are treated as common stock in computing basic earnings per share.