Heartland Express shareholders will vote on stock award plan
At a special meeting on July 11, Heartland Express Inc. shareholders will vote on the 2011 Restricted Stock Award Plan, which would make available up to 906,886 shares of company stock to be used for grants to company employees.
The North Liberty-based trucking company described the plan in its recent proxy statement as a way to “provide eligible officers and employees with an incentive to achieve corporate objectives and to provide such officers and employees with a proprietary interest in the company.”
The board of directors’ compensation committee would administer the plan, and “all employees of the company, except for immediate family members of (CEO) Russell A. Gerdin, will be eligible to participate,” according to the proxy statement. The board “has not at this time considered or approved any awards under the plan so the identity of future participants and the size and terms of future awards are not known at this time.”