SAIA INC: insider trades · United States · SEC (Form 4)

About SAIA INC

Saia, Inc. is a United States-based transportation company listed on the NYSE under the ticker SAIA. For French-, Belgian- and Swiss-based investors, it is best viewed as a focused freight transportation platform rather than a diversified logistics conglomerate. Its core business is less-than-truckload (LTL) shipping, a segment in which freight from multiple customers is consolidated into shared linehaul and terminal networks to improve asset utilization and service efficiency. According to the company’s latest annual report, roughly 97% of revenue is derived from transporting LTL shipments, while Saia also offers brokered truckload, expedited transportation and other logistics services across North America. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001177702/000119312526107143/ars_2025.pdf?utm_source=openai)) The company traces its roots back to 1924 through Saia Motor Freight Line, now a wholly owned operating subsidiary of Saia, Inc. Saia is headquartered in Johns Creek, Georgia, United States, and has built a nationwide operating footprint. As of December 31, 2025, it operated 213 owned and leased terminals, plus three general offices and one warehouse. Its rolling stock included approximately 7,700 tractors and 26,500 trailers, underscoring the scale of its asset base and the importance of network density in its operating model. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001177702/000119312526107143/ars_2025.pdf?utm_source=openai)) From a competitive standpoint, Saia is a leading LTL carrier in the U.S. market. It provides direct service to the 48 contiguous states and extends coverage to Canada and Mexico through third-party interline relationships. The company’s service mix emphasizes shipments weighing 100 to 10,000 pounds, alongside time-definite and expedited options. This positioning matters because LTL is a service-intensive and execution-driven niche: success depends on terminal coverage, freight density, on-time performance, and disciplined network management. Saia’s growing footprint and long operating history support its credibility in this category. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001177702/000119312526107143/ars_2025.pdf?utm_source=openai)) A key feature of the investment case is capital intensity paired with network expansion. Over the past five years, Saia has invested more than $2.5 billion in capital expenditures, mainly in real estate, revenue equipment and technology. Management has tied these investments to a long-term strategy of expanding the footprint in both new and existing markets, staying closer to customers, gaining market share, and modernizing the fleet. The company also highlights technology investments aimed at network optimization, advanced analytics, customer service enhancements and streamlined business processes. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001177702/000119312526107143/ars_2025.pdf?utm_source=openai)) Recent disclosures suggest momentum remains strong. In its 2025 proxy materials, Saia said it achieved an estimated record national market share in 2025, reflecting expansion into new markets and deeper customer relationships. For investors, that is an important signal of competitive traction, although the business remains exposed to freight-cycle volatility, pricing pressure and macroeconomic swings that can affect shipment volumes. Overall, Saia presents itself as a disciplined, U.S.-centric LTL carrier with a strong network build-out story and a clear focus on market share gains. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001177702/000119312526107135/saia-20260313.htm?utm_source=openai))