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Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

The following table and supporting graphics below set out information about the relationship between “executive compensation actually paid” and certain financial performance measures of the Company for fiscal years ended December 31, 2023, 2022, 2021 and 2020 as required under Item 402(v) of Regulation S-K. The information set forth below was not used by the Compensation Committee in setting compensation for our Named Executive Officers as set forth in the Summary Compensation Table.

																Value of Initial Fixed $100 Investment Based On:
	Year (a)			Summary Compensation Table Total for PEO⁽¹⁾ (b)			Compensation Actually Paid to PEO⁽²⁾ (c)			Average Summary Compensation Table Total for Non-PEO NEOs⁽³⁾ (d)			Average Compensation Actually Paid to Non-PEO NEOs⁽³⁾⁽⁴⁾ (e)			TSR⁽⁵⁾ (f)			Peer Group TSR⁽⁶⁾ (g)			Net Income (in 000s)⁽⁷⁾ (h)			EBITDA as a Percent of Gross Margin⁽⁸⁾ (i)
	2023			$2,609,274			$4,604,521			$1,503,824			$2,565,427			$179.22			$168.12			$167,528			70.6%
	2022			$5,821,094			$6,165,035			$2,113,244			$2,348,334			$154.93			$140.02			$356,948			70.6%
	2021			$5,724,633			$12,482,793			$2,011,784			$4,086,226			$164.21			$165.47			$171,474			61.5%
	2020			$3,168,894			$4,190,394			$1,492,090			$1,901,498			$111.11			$130.86			$73,559			54.0%

1.	Reflects compensation amounts reported in the “Summary Compensation Table” for our principal executive officer (“PEO”), Phillip D. Yeager (in 2023) and former CEO (and current Executive Chairman), David P. Yeager (in 2022, 2021 and 2020).

2.

“Compensation actually paid” to our PEO in each of 2023, 2022, 2021 and 2020 reflects the respective amounts set forth in column (b) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. The dollar amounts reflected in column (b) of the table above do not reflect the actual amount of compensation earned by or paid to our PEO during the applicable year. For information regarding the decisions made by our Compensation Committee regarding the PEO’s compensation for each fiscal year, please see the Compensation Discussion & Analysis sections of the proxy statements reporting pay for the fiscal years covered in the table above.

	Year			2020			2021			2022			2023
	PEO			D. Yeager			D. Yeager			D. Yeager			P. Yeager
	SCT Total Compensation			$3,168,894			$5,724,633			$5,821,094			$2,609,274
	Less: Stock award values reported in SCT for the Covered Year			$(2,099,600)			$(2,280,000)			$(2,200,000)			$(1,762,611)
	Plus: Year End Fair Value for Stock Awards Granted in the Covered Year			$2,576,400			$5,054,400			$3,113,941			$3,058,017
	Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years			405,900			$3,131,760			$(570,000)			$710,108
	Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year			$138,800			$852,000			—			$(10,267)
	Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year			—			—			—			—
	Compensation Actually Paid			$4,190,394			$12,482,793			$6,165,035			$4,604,521

Equity Valuations: Performance-based restricted share grant date fair values are calculated using the stock price as of date of grant assuming target performance. Adjustments have been made using the stock price and performance accrual modifier as of year-end and as of the date of vest. Time-based restricted share grant date fair values are calculated using the stock price as of date of grant. Adjustments have been made using the stock price as of year-end and as of each date of vest.

3.	Reflects compensation amounts reported in the “Summary Compensation Table” of the proxy statements reporting pay for the fiscal years covered in the table above for the following non-PEO NEOs:

2023: David P. Yeager, Geoffrey F. DeMartino, Brian D. Alexander, and Thomas P. LaFrance

2022: Phillip D. Yeager, Geoffrey F. DeMartino, Vincent Paperiello, and Thomas P. LaFrance

2021: Phillip D. Yeager, Geoffrey F. DeMartino, Vava R. Dimond, and Vincent Paperiello

2020: Phillip D. Yeager, Terri A. Pizzuto, Geoffrey F. DeMartino, Vava R. Dimond and Douglas G. Beck

4.

Average “compensation actually paid” for our non-PEO NEOs in each of 2023, 2022, 2021 and 2020 reflects the respective amounts set forth in column (d) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. The dollar amounts reflected in column (d) of the table above do not reflect the actual amount of compensation earned by or paid to our non-PEO NEOs during the applicable year. For information regarding the decisions made by our Compensation Committee regarding the non-PEO NEOs’ compensation for each fiscal year, please the Compensation Discussion and Analysis sections of the proxy statements reporting pay for the fiscal years covered in the table above.

	Year			2020 Average			2021 Average			2022 Average			2023 Average
	Non-PEO NEOs			See Footnote 3 above			See Footnote 3 above			See Footnote 3 above			See Footnote 3 above
	SCT Total Compensation			$1,492,090			$2,011,784			$2,113,244			$1,503,824
	Less: Stock award values reported in SCT for the Covered Year			$(889,600)			$(826,500)			$(881,319)			$(857,910)
	Plus: Year End Fair Value for Stock Awards Granted in the Covered Year			$1,084,867			$1,832,220			$1,247,437			$1,445,021
	Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years			$166,879			$867,639			$(127,973)			$474,492
	Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year			$47,262			$201,083			$(3,054)			—
	Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year			—			—			—			—
	Compensation Actually Paid			$1,901,498			$4,086,226			$2,348,334			$2,565,427

Equity Valuations: Performance-based restricted share grant date fair values are calculated using the stock price as of date of grant assuming target performance. Adjustments have been made using the stock price and performance accrual modifier as of year-end and as of the date of vest. Time-based restricted share grant date fair values are calculated using the stock price as of date of grant. Adjustments have been made using the stock price as of year-end and as of each date of vest.

5.	For the relevant fiscal year, represents the cumulative total shareholder return (TSR) of the Company for the measurement periods ending on December 31 of each of 2023, 2022, 2021 and 2020, respectively.

6.	For the relevant fiscal year, represents the cumulative TSR of the Nasdaq US Benchmark Industrial Transportation Index for the measurement periods ending on December 31 of each of 2023, 2022, 2021 and 2020, respectively.

7.	Reflects “Net Income” in the company’s Consolidated Statements Income and Comprehensive Income included in the Company’s Annual Reports on Form 10-K for each of the years ended December 31, 2023, 2022, 2021 and 2020.

8.	Company-selected Measure is EBITDA as a percent of gross margin, which is described below.

Company Selected Measure Name

EBITDA as a percent of gross margin

Named Executive Officers, Footnote

1.	Reflects compensation amounts reported in the “Summary Compensation Table” for our principal executive officer (“PEO”), Phillip D. Yeager (in 2023) and former CEO (and current Executive Chairman), David P. Yeager (in 2022, 2021 and 2020).

3.	Reflects compensation amounts reported in the “Summary Compensation Table” of the proxy statements reporting pay for the fiscal years covered in the table above for the following non-PEO NEOs:

2023: David P. Yeager, Geoffrey F. DeMartino, Brian D. Alexander, and Thomas P. LaFrance

2022: Phillip D. Yeager, Geoffrey F. DeMartino, Vincent Paperiello, and Thomas P. LaFrance

2021: Phillip D. Yeager, Geoffrey F. DeMartino, Vava R. Dimond, and Vincent Paperiello

2020: Phillip D. Yeager, Terri A. Pizzuto, Geoffrey F. DeMartino, Vava R. Dimond and Douglas G. Beck

Peer Group Issuers, Footnote

6.	For the relevant fiscal year, represents the cumulative TSR of the Nasdaq US Benchmark Industrial Transportation Index for the measurement periods ending on December 31 of each of 2023, 2022, 2021 and 2020, respectively.

PEO Total Compensation Amount

$ 2,609,274

$ 5,821,094

$ 5,724,633

$ 3,168,894

PEO Actually Paid Compensation Amount

$ 4,604,521

6,165,035

12,482,793

4,190,394

Adjustment To PEO Compensation, Footnote

2.

“Compensation actually paid” to our PEO in each of 2023, 2022, 2021 and 2020 reflects the respective amounts set forth in column (b) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. The dollar amounts reflected in column (b) of the table above do not reflect the actual amount of compensation earned by or paid to our PEO during the applicable year. For information regarding the decisions made by our Compensation Committee regarding the PEO’s compensation for each fiscal year, please see the Compensation Discussion & Analysis sections of the proxy statements reporting pay for the fiscal years covered in the table above.

	Year			2020			2021			2022			2023
	PEO			D. Yeager			D. Yeager			D. Yeager			P. Yeager
	SCT Total Compensation			$3,168,894			$5,724,633			$5,821,094			$2,609,274
	Less: Stock award values reported in SCT for the Covered Year			$(2,099,600)			$(2,280,000)			$(2,200,000)			$(1,762,611)
	Plus: Year End Fair Value for Stock Awards Granted in the Covered Year			$2,576,400			$5,054,400			$3,113,941			$3,058,017
	Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years			405,900			$3,131,760			$(570,000)			$710,108
	Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year			$138,800			$852,000			—			$(10,267)
	Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year			—			—			—			—
	Compensation Actually Paid			$4,190,394			$12,482,793			$6,165,035			$4,604,521

Equity Valuations: Performance-based restricted share grant date fair values are calculated using the stock price as of date of grant assuming target performance. Adjustments have been made using the stock price and performance accrual modifier as of year-end and as of the date of vest. Time-based restricted share grant date fair values are calculated using the stock price as of date of grant. Adjustments have been made using the stock price as of year-end and as of each date of vest.

Non-PEO NEO Average Total Compensation Amount

$ 1,503,824

2,113,244

2,011,784

1,492,090

Non-PEO NEO Average Compensation Actually Paid Amount

$ 2,565,427

2,348,334

4,086,226

1,901,498

Adjustment to Non-PEO NEO Compensation Footnote

4.

Average “compensation actually paid” for our non-PEO NEOs in each of 2023, 2022, 2021 and 2020 reflects the respective amounts set forth in column (d) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. The dollar amounts reflected in column (d) of the table above do not reflect the actual amount of compensation earned by or paid to our non-PEO NEOs during the applicable year. For information regarding the decisions made by our Compensation Committee regarding the non-PEO NEOs’ compensation for each fiscal year, please the Compensation Discussion and Analysis sections of the proxy statements reporting pay for the fiscal years covered in the table above.

	Year			2020 Average			2021 Average			2022 Average			2023 Average
	Non-PEO NEOs			See Footnote 3 above			See Footnote 3 above			See Footnote 3 above			See Footnote 3 above
	SCT Total Compensation			$1,492,090			$2,011,784			$2,113,244			$1,503,824
	Less: Stock award values reported in SCT for the Covered Year			$(889,600)			$(826,500)			$(881,319)			$(857,910)
	Plus: Year End Fair Value for Stock Awards Granted in the Covered Year			$1,084,867			$1,832,220			$1,247,437			$1,445,021
	Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years			$166,879			$867,639			$(127,973)			$474,492
	Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year			$47,262			$201,083			$(3,054)			—
	Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year			—			—			—			—
	Compensation Actually Paid			$1,901,498			$4,086,226			$2,348,334			$2,565,427

Equity Valuations: Performance-based restricted share grant date fair values are calculated using the stock price as of date of grant assuming target performance. Adjustments have been made using the stock price and performance accrual modifier as of year-end and as of the date of vest. Time-based restricted share grant date fair values are calculated using the stock price as of date of grant. Adjustments have been made using the stock price as of year-end and as of each date of vest.

Compensation Actually Paid vs. Total Shareholder Return

Relationship between Pay and Performance

Below are graphs showing the relationship of “compensation actually paid” to our Chief Executive Officer and other Named Executive Officers in 2020, 2021, 2022 and 2023 to (1) TSR of both the Company and the Nasdaq US Benchmark Industrial Transportation Index, (2) the Company’s net income and (3) EBITDA as a percent of gross margin.

“Compensation actually paid,” as required under SEC rules, reflects adjusted values to unvested and vested equity awards during the years shown in the table based on year-end stock prices, various accounting valuation assumptions, and projected performance modifiers but does not reflect actual amounts paid out for those awards. Compensation actually paid generally fluctuates due to stock price achievement and varying levels of projected and actual achievement of performance goals.

Compensation Actually Paid vs. Net Income

Relationship between Pay and Performance

Below are graphs showing the relationship of “compensation actually paid” to our Chief Executive Officer and other Named Executive Officers in 2020, 2021, 2022 and 2023 to (1) TSR of both the Company and the Nasdaq US Benchmark Industrial Transportation Index, (2) the Company’s net income and (3) EBITDA as a percent of gross margin.

“Compensation actually paid,” as required under SEC rules, reflects adjusted values to unvested and vested equity awards during the years shown in the table based on year-end stock prices, various accounting valuation assumptions, and projected performance modifiers but does not reflect actual amounts paid out for those awards. Compensation actually paid generally fluctuates due to stock price achievement and varying levels of projected and actual achievement of performance goals.

Compensation Actually Paid vs. Company Selected Measure

Relationship between Pay and Performance

Below are graphs showing the relationship of “compensation actually paid” to our Chief Executive Officer and other Named Executive Officers in 2020, 2021, 2022 and 2023 to (1) TSR of both the Company and the Nasdaq US Benchmark Industrial Transportation Index, (2) the Company’s net income and (3) EBITDA as a percent of gross margin.

“Compensation actually paid,” as required under SEC rules, reflects adjusted values to unvested and vested equity awards during the years shown in the table based on year-end stock prices, various accounting valuation assumptions, and projected performance modifiers but does not reflect actual amounts paid out for those awards. Compensation actually paid generally fluctuates due to stock price achievement and varying levels of projected and actual achievement of performance goals.

Total Shareholder Return Vs Peer Group

Relationship between Pay and Performance

Below are graphs showing the relationship of “compensation actually paid” to our Chief Executive Officer and other Named Executive Officers in 2020, 2021, 2022 and 2023 to (1) TSR of both the Company and the Nasdaq US Benchmark Industrial Transportation Index, (2) the Company’s net income and (3) EBITDA as a percent of gross margin.

“Compensation actually paid,” as required under SEC rules, reflects adjusted values to unvested and vested equity awards during the years shown in the table based on year-end stock prices, various accounting valuation assumptions, and projected performance modifiers but does not reflect actual amounts paid out for those awards. Compensation actually paid generally fluctuates due to stock price achievement and varying levels of projected and actual achievement of performance goals.

Tabular List, Table

Listed below are the financial performance measures which in our assessment represent the most important financial performance measures we use to link compensation actually paid to our Named Executive Officers, for 2023, to Company performance.

	Measure			Explanation
	EBITDA as a percent of gross margin			A non-GAAP financial measure that consists of EBITDA (as defined below in this table) divided by Gross Margin (as defined below in this table)
	Diluted EPS			Diluted Earnings per Share
	EBITDA			A non-GAAP financial measure that consists of income from continuing operations before interest, income taxes, depreciation and amortization
	Gross Margin			Revenue minus transportation costs
	Operating income			Revenue minus transportation costs and costs and expenses

Total Shareholder Return Amount

$ 179.22

154.93

164.21

111.11

Peer Group Total Shareholder Return Amount

168.12

140.02

165.47

130.86

Net Income (Loss)

$ 167,528,000

$ 356,948,000

$ 171,474,000

$ 73,559,000

Company Selected Measure Amount

0.706

0.706

0.615

0.54

Phillip D. Yeager

David P. Yeager

David P. Yeager

David P. Yeager

Pay vs Performance Disclosure

EBITDA as a percent of gross margin

Non-GAAP Measure Description

8.	Company-selected Measure is EBITDA as a percent of gross margin, which is described below.

	Measure			Explanation
	EBITDA as a percent of gross margin			A non-GAAP financial measure that consists of EBITDA (as defined below in this table) divided by Gross Margin (as defined below in this table)
	Diluted EPS			Diluted Earnings per Share
	EBITDA			A non-GAAP financial measure that consists of income from continuing operations before interest, income taxes, depreciation and amortization
	Gross Margin			Revenue minus transportation costs
	Operating income			Revenue minus transportation costs and costs and expenses

Pay vs Performance Disclosure

Diluted EPS

Pay vs Performance Disclosure

EBITDA

Pay vs Performance Disclosure

Gross Margin

Pay vs Performance Disclosure

Operating income

PEO | Stock Award Values Reported in SCT for the Covered Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (1,762,611)

$ (2,200,000)

$ (2,280,000)

$ (2,099,600)

PEO | Year End Fair Value for Stock Awards Granted in the Covered Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

3,058,017

3,113,941

5,054,400

2,576,400

PEO | Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

710,108

(570,000)

3,131,760

405,900

PEO | Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(10,267)

0

852,000

138,800

PEO | Fair Value of Stock and Option Awards Forfeited during the Covered Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

Non-PEO NEO | Stock Award Values Reported in SCT for the Covered Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(857,910)

(881,319)

(826,500)

(889,600)

Non-PEO NEO | Year End Fair Value for Stock Awards Granted in the Covered Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

1,445,021

1,247,437

1,832,220

1,084,867

Non-PEO NEO | Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

474,492

(127,973)

867,639

166,879

Non-PEO NEO | Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

(3,054)

201,083

47,262

Non-PEO NEO | Fair Value of Stock and Option Awards Forfeited during the Covered Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 0

$ 0

$ 0

$ 0