Raymond R. Ramu - 15 Feb 2023 Form 4 Insider Report for SAIA INC (SAIA)

Role: Exec. VP & Chief Customer Off.
Signature: /s/ Kelly W. Benton
Issuer symbol: SAIA
Transactions as of: 15 Feb 2023
Transactions value $: -$1,901,627
Form type: 4
Date filed: 17 Feb 2023, 15:27
Previous filing: 10 Feb 2023
Next filing: 09 Aug 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SAIA	Common Stock	Options Exercise	$326K	+3.25K	+39.18%	$100.20	11.6K	15 Feb 2023	Direct
transaction	SAIA	Common Stock	Sale	-$1.31M	-4.68K	-40.51%	$280.71	6.88K	15 Feb 2023	Direct
transaction	SAIA	Common Stock	Sale	-$913K	-3.25K	-47.32%	$280.70	3.62K	15 Feb 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	SAIA	Stock Options (Right to Buy)	Options Exercise	$0	-3.25K	-100%	$0.00^*	0	15 Feb 2023	Common Stock	3.25K	$100.20	Direct	F2
holding	SAIA	Phantom Stock						7.07K	15 Feb 2023	Common Stock	7.07K		Direct	F3, F4, F5
holding	SAIA	Stock Options (Right to Buy)						1.92K	15 Feb 2023	Common Stock	1.92K	$277.86	Direct	F2
holding	SAIA	Stock Options (Right to Buy)						2.1K	15 Feb 2023	Common Stock	2.1K	$200.81	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This transaction was executed in multiple trades at prices ranging from $280.3478 USD to $281.09 USD; the price reported above reflects the weighted average sale price.
F2	Stock Options granted as part of the long-term incentive program approved by the Compensation Committee. One-third of the award vests each year on the anniversary of the grant date.
F3	The conversion rate of this derivative security on February 15, 2023 is 1.1433 resulting in 8,087.168 shares of common stock (underlying security in column 7).
F4	Immediate
F5	The shares of phantom stock become payable in the Company's common stock upon reporting person's termination of service as an employee, in accordance with the terms of the Plan.