Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses MRTN in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named MRTN in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Timothy Kohl | $553,863 | $0 | $314,902 | $0 | $0 | $0 | $629,204 | $1,497,969 |
| Former Chief Executive Officer | ||||||||
| Randolph Marten | 801,483 | 0 | 342,998 | 0 | 0 | 0 | 9,822 | 1,154,303 |
| Chairman and Chief Executive Officer | ||||||||
| James Hinnendael | 431,450 | 0 | 172,762 | 0 | 0 | 0 | 11,006 | 615,218 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Douglas Petit | 392,903 | 0 | 168,143 | 0 | 0 | 0 | 9,498 | 570,544 |
| President | ||||||||
| Adam Phillips | 305,827 | 0 | 129,984 | 0 | 0 | 0 | 5,395 | 441,206 |
| Executive Vice President and Chief Operating Officer | ||||||||
| Randall Baier | 295,962 | 0 | 125,796 | 0 | 0 | 0 | 6,778 | 428,536 |
| Executive Vice President and Chief Technology Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Timothy Kohl | $1,497,969 | $1,098,903 | $1,083,236 | +399,066 |
| Randolph Marten | 1,154,303 | 1,197,381 | 1,179,648 | −43,078 |
| James Hinnendael | 615,218 | 607,418 | 597,664 | +7,800 |
| Douglas Petit | 570,544 | 590,753 | 581,830 | −20,209 |
| Adam Phillips | 441,206 | 457,419 | 381,877 | −16,213 |
| Randall Baier | 428,536 | 443,885 | 355,600 | −15,349 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Adam Phillips | RSU | 2025-05-06 | — | — | 10,243 | — | $129,984 |
| Randall Baier | RSU | 2025-05-06 | — | — | 9,913 | — | 125,796 |
| Timothy Kohl | PSU | 2025-05-06 | — | — | — | — | 314,902 |
| James Hinnendael | RSU | 2025-05-06 | — | — | 13,614 | — | 172,762 |
| Randolph Marten | RSU | 2025-05-06 | — | — | 27,029 | — | 342,998 |
| Douglas Petit | RSU | 2025-05-06 | — | — | 13,250 | — | 168,143 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Adam Phillips | $129,984 | $0 | $0 | 0.0% |
| Randall Baier | 125,796 | 0 | 0 | 0.0% |
| Timothy Kohl | 0 | 314,902 | 0 | 100.0% |
| James Hinnendael | 172,762 | 0 | 0 | 0.0% |
| Randolph Marten | 342,998 | 0 | 0 | 0.0% |
| Douglas Petit | 168,143 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Randolph Marten | PSU | 59,325 | — | $675,119 |
| James Hinnendael | PSU | 29,881 | — | 340,046 |
| Douglas Petit | PSU | 29,080 | — | 330,930 |
| Adam Phillips | PSU | 18,415 | — | 209,563 |
| Randall Baier | PSU | 17,919 | — | 203,918 |
| Douglas Petit | Option | 600 | 17.36 | — |
| Adam Phillips | Option | 600 | 17.36 | — |
| Adam Phillips | Option | 600 | 16.93 | — |
| Randall Baier | Option | 600 | 17.36 | — |
| Randall Baier | Option | 600 | 16.93 | — |
The company's compensation philosophy focuses on attracting, motivating, and retaining key employees by aligning executive interests with stockholder value through long-term, equity-based incentive compensation. It emphasizes a 'team' approach where compensation is primarily tied to overall company performance rather than individual performance, with a significant component of variable pay based on actual results to ensure competitiveness and sustainable growth.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Grant Thornton LLP |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-05 | 71,852,429 | 722,632 | 51,948 | 99% | Passed |
| 2025 | 2025-05-06 | 75,486,694 | 835,781 | 37,148 | 98.9% | Passed |
| 2024 | 2024-05-07 | 70,379,466 | 718,355 | 25,124 | 98.99% | Passed |
| 2023 | 2023-05-02 | 73,998,332 | 814,634 | 84,695 | 98.91% | Passed |
| 2022 | 2022-05-03 | 70,851,716 | 625,423 | 111,356 | 99.13% | Passed |
| 2021 | 2021-05-04 | 70,077,915 | 369,505 | 92,146 | 99.48% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-05 | 99%a |
| 2025 | 2025-05-06 | 98.9%b |
| 2024 | 2024-05-07 | 98.99%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Ronald R. BoothIndependent · Audit (Chair) · Nominating/Corporate Governance | $77,250 | $57,105 | — | — | — | $134,355 |
| Robert L. DemorestIndependent · Lead Independent Director · Audit · Nominating/Corporate Governance | 75,582 | 57,105 | — | — | — | 132,687 |
| Kathleen P. IversonIndependent · Audit · Compensation (Chair) | 72,250 | 57,105 | — | — | — | 129,355 |
| Patricia L. JonesIndependent · Compensation · Nominating/Corporate Governance (Chair) | 66,664 | 57,105 | — | — | — | 123,769 |
| Jerry M. BauerIndependent · Compensation · Nominating/Corporate Governance | 60,000 | 57,105 | — | — | — | 117,105 |
| Larry B. HagnessIndependent · Compensation · Nominating/Corporate Governance | 60,000 | 57,105 | — | — | — | 117,105 |
| Thomas J. WinkelIndependent · Not standing for re-election · Departed during FY | 29,218 | 0 | — | — | — | 29,218 |
| Randolph L. MartenEmployee director · Board Chair | — | — | — | — | — | 0 |
| Annual cash retainer | $45,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | $1,500 |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 10,000 / 10,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $440,964 |
| Equity awards (grant-date value) | $342,630 |
| All other compensation | $0 |
| Total cost of the board | $783,594 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Marten Transport names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Marten Transport.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Werner Enterprises, Inc. | 2025 | Derek Leathers | $974,077 | $4,200,000 | $0 | $745,106 | $6,048,549 |
| 2 | Knight-Swift Transportation Holdings Inc. | 2025 | Adam Miller | 950,000 | 3,242,667 | — | 803,130 | 5,011,329 |
| 3 | Marten Transport | 2025 | Randolph Marten | 801,483 | 342,998 | 0 | 0 | 1,154,303 |
| 4 | Heartland Express, Inc. | 2025 | Michael Gerdin | 1,050,000 | 0 | 0 | 0 | 1,070,362 |
| — | Covenant Logistics Group, Inc. | — | — | — | — | — | — | not in coverage universe |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Marten Transport | not disclosed | not disclosed | not disclosed | Grant Thornton LLP |
| Covenant Logistics Group, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Heartland Express, Inc. | not disclosed | Restricted Stock 100 | not disclosed | not disclosed |
| Knight-Swift Transportation Holdings Inc. | not disclosed | PRSU 60 · RSU 40 | not disclosed | Pearl Meyer |
| Werner Enterprises, Inc. | not disclosed | Restricted Stock 50 · Performance Stock 50 | not disclosed | Frederic W. Cook & Co. |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Timothy Kohl | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation”. As printed: 1,497,969. Filing ↗machine: r24 · c23 · span 446040–446049 |
| 2 | Section 01, Randolph Marten | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation”. As printed: 1,154,303. Filing ↗machine: span 368330–368339 |
| 3 | Section 01, James Hinnendael | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation”. As printed: 615,218. Filing ↗machine: r7 · c24 · span 385744–385751 |
| 4 | Section 01, Douglas Petit | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation”. As printed: 570,544. Filing ↗machine: r12 · c24 · span 403440–403447 |
| 5 | Section 01, Adam Phillips | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation”. As printed: 441,206. Filing ↗machine: r16 · c24 · span 417474–417481 |
| 6 | Section 01, Randall Baier | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation”. As printed: 428,536. Filing ↗machine: r20 · c24 · span 431823–431830 |
| 7 | Section 03, Adam Phillips RSU | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 594935–594942 |
| 8 | Section 03, Randall Baier RSU | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 607767–607774 |
| 9 | Section 03, Timothy Kohl PSU | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 620605–620612 |
| 10 | Section 03, James Hinnendael RSU | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 569269–569276 |
| 11 | Section 03, Randolph Marten RSU | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 556433–556440 |
| 12 | Section 03, Douglas Petit RSU | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 582102–582109 |
| 13 | Section 08, Ronald R. Booth | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Director Compensation”. As printed: 134,355. Filing ↗machine: span 144228–144235 |
| 14 | Section 08, Robert L. Demorest | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Director Compensation”. As printed: 132,687. Filing ↗machine: span 147750–147757 |
| 15 | Section 08, Kathleen P. Iverson | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Director Compensation”. As printed: 129,355. Filing ↗machine: span 151273–151280 |
| 16 | Section 08, Patricia L. Jones | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Director Compensation”. As printed: 123,769. Filing ↗machine: span 154794–154801 |
| 17 | Section 08, Jerry M. Bauer | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Director Compensation”. As printed: 117,105. Filing ↗machine: span 161832–161839 |
| 18 | Section 08, Larry B. Hagness | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Director Compensation”. As printed: 117,105. Filing ↗machine: span 158314–158321 |
| 19 | Section 08, Thomas J. Winkel | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Director Compensation”. As printed: 29,218. Filing ↗machine: span 164349–164355 |
| 20 | Section 08, Randolph L. Marten | DEF 14A | 2026-03-17 | 0001437749-26-008503 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 21 | Section 06, 2026 vote | Form 8-K | 2026-05-11 | 0001437749-26-016108 | Item 5.07 · say-on-pay result. As reported: 99% (votes for as printed: 71,852,429). Filing ↗ |
| 22 | Section 06, 2025 vote | Form 8-K | 2025-05-12 | 0001437749-25-016118 | Item 5.07 · say-on-pay result. As reported: 98.9% (votes for as printed: 75,486,694). Filing ↗ |
| 23 | Section 06, 2024 vote | Form 8-K | 2024-05-10 | 0001437749-24-016000 | Item 5.07 · say-on-pay result. As reported: 98.99% (votes for as printed: 70,379,466). Filing ↗ |
| 24 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 25 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 26 | Section 09b board cost (computed) | Computed | — | computed | Cash 440,964 + equity 342,630 + all other 0 = 783,594, summed across the director compensation table rows.machine: formula: Σ = 783,594 |
| 27 | Werner Enterprises, Inc., Section 10b CEO total | DEF 14A | 2026-03-31 | 0000793074-26-000083 | CEO total compensation as printed in Werner Enterprises, Inc.'s own proxy. As printed: 6,048,549. Filing ↗machine: r3 · c24 · span 647131–647140 |
| 28 | Knight-Swift Transportation Holdings Inc., Section 10b CEO total | DEF 14A | 2026-04-02 | 0001492691-26-000025 | CEO total compensation as printed in Knight-Swift Transportation Holdings Inc.'s own proxy. As printed: 5,011,329. Filing ↗ |
| 29 | Marten Transport (subject), Section 10b CEO total | DEF 14A | 2026-03-17 | 0001437749-26-008503 | CEO total compensation as printed in Marten Transport's own proxy. As printed: 1,154,303. Filing ↗machine: span 368330–368339 |
| 30 | Heartland Express, Inc., Section 10b CEO total | DEF 14A | 2026-04-02 | 0000799233-26-000017 | CEO total compensation as printed in Heartland Express, Inc.'s own proxy. As printed: 1,070,362. Filing ↗machine: r2 · c18 · span 336103–336112 |
| 31 | Section 10a, Werner Enterprises, Inc. reciprocity | DEF 14A | — | 0000793074-26-000083 | Werner Enterprises, Inc.'s most recent proxy was read; its disclosed peer group does not include Marten Transport. Filing ↗ |
| 32 | Section 10a, Heartland Express, Inc. reciprocity | DEF 14A | — | 0000799233-26-000017 | Heartland Express, Inc. names Marten Transport in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 33 | Section 10a, Covenant Logistics Group, Inc. reciprocity | DEF 14A | — | 0001437749-26-011971 | Covenant Logistics Group, Inc. names Marten Transport in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 34 | Section 10a, Knight-Swift Transportation Holdings Inc. reciprocity | DEF 14A | — | 0001492691-26-000025 | Knight-Swift Transportation Holdings Inc.'s most recent proxy was read; its disclosed peer group does not include Marten Transport. Filing ↗ |