Michael K Liu, EVP - Operations at Knight-Swift (KNX 4.75%), disposed of 1,243 directly held shares in an open-market sale on Feb. 4, 2026, fully exiting his direct equity position according to a SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 1,243 |
| Transaction value | $75,661.41 |
| Post-transaction shares (direct) | 0 |
Transaction value based on the SEC Form 4 reported price ($60.87).
Key questions
- How significant was the Feb. 4, 2026, sale relative to Liu's historical trading activity?
This transaction was the smallest of Liu's four open-market sales since May 2023. - Did this transaction involve any indirect holdings, trusts, or derivative instruments?
No, the entire sale consisted of directly held shares, with no indirect or derivative positions disclosed in the filing or footnotes.
Company overview
| Metric | Value |
|---|---|
| Employees | 35,300 |
| Revenue (TTM) | $7.47 billion |
| Net income (TTM) | $65.95 million |
| 1-year price change | 10.54% |
* 1-year performance calculated using Feb. 14, 2026 as the reference date.
Company snapshot
Knight-Swift is one of North America's largest trucking and logistics companies, operating a fleet of over 18,000 tractors and nearly 68,000 trailers. The company offers a variety of freight transportation services, from dedicated truckload and LTL to logistics and intermodal. Its clients include companies across various sectors, including retail, food and beverage, consumer products, automotive, manufacturing, and building materials.
What this transaction means for investors
While it’s difficult to say why Liu sold all his shares in the company, there’s still a strong possibility that he still holds stock options, whether directly or indirectly. Regardless, the stock has been performing well recently, with four consecutive months of price gains and on track for a fifth, as share prices have increased 7.7% (as of Feb. 14, 2026).
On Feb. 12, the company announced a 2-cent increase in quarterly dividends, now paying .20 per quarter. This marks the seventh consecutive year the company has raised dividends, and may interest investors who are interest in stocks that pay dividends.
At a conference in late January, CEO Adam Miller expressed “cautious optimism” about the trucking industry, noting that companies across the sector are dealing with the federal crackdown on CDL training schools that fail to meet safety standards.
The crackdown was launched around December 2025, and it has since been found that approximately 44% of the nation’s registered schools were non-compliant. However, Miller suggests the crackdown will rebalance the supply and demand in the trucking industry in a positive way.
