Stockholders' Equity

12 Months Ended

Dec. 31, 2021

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,
	2021		2020		2019
Shares of common stock purchased		5,580		16,660		11,240
Aggregate purchase price of shares purchased	$	1,268,370	$	1,274,641	$	769,847
Shares of common stock sold		2,841		68,759		10,867
Aggregate sale price of shares sold	$	802,030	$	9,722,577	$	787,021

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 94,109 and 89,696 shares reserved for issuance under the Directors’ Deferred Fee Plan at December 31, 2021 and 2020, respectively. The shares reserved for issuance under the Directors’ Deferred Fee Plan are treated as common stock in computing basic earnings per share.