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Saia Inc Executive Compensation (FY25)

SAIA · Executive and director compensation, fiscal 2023 to 2025

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Data as of September 9, 2026Latest filing (8-K): May 5, 2026
12 filings cited on this page
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Saia Inc brief$1,500Get the executive brief
200 figures on this page: 189 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
Frederick Holzgrefe
Latest say-on-pay support
=
April 29, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Frederick Holzgrefe: $5,263,064 → $6,312,241 (19.9% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Saia Inc's chief executive and what were they paid?
Frederick Holzgrefe, President & Chief Executive Officer, received $6,312,241 in total compensation for fiscal 2025. Compared with the $5,263,064 reported for fiscal 2024, Holzgrefe's total was 19.9% higher.
What was Saia Inc's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 98.2% of votes cast for or against in favor at the meeting held April 29, 2026.
Which companies are in Saia Inc's peer group?
The disclosed peer group includes Air Transport Services Group, Inc., ArcBest Corporation, Forward Air Corporation, Hub Group, Inc. and Knight-Swift Transportation Holdings Inc., among others. The PSU Group includes CH Robinson Worldwide, Inc., CSX Corporation, Expeditors International of Washington, Inc., FedEx Corporation and Heartland Express, Inc., among others.
What is Saia Inc's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 94:1, against median employee compensation of $67,163.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Frederick Holzgrefe
President & Chief Executive Officer
◇—◇—◇—◇◇
Raymond Ramu
Executive Vice President & Chief Customer Officer
◇—◇—◇—◇◇
Patrick Sugar
Executive Vice President Operations
◇—◇—◇—◇◇
Anthony Norwood
Executive Vice President & Chief Human Resources Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Frederick Holzgrefe
President & Chief Executive Officer
◇—◇———◇◇
Raymond Ramu
Executive Vice President & Chief Customer Officer
◇—◇———◇◇
Patrick Sugar
Executive Vice President Operations
◇—◇———◇◇
Matthew Batteh
Executive Vice President & Chief Financial Officer
◇—◇———◇◇
Anthony Norwood
Executive Vice President & Chief Human Resources Officer
◇—◇———◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Frederick Holzgrefe
President & Chief Executive Officer
◇—◇———◇◇
Raymond Ramu
Executive Vice President & Chief Customer Officer
◇—◇———◇◇
Patrick Sugar
Executive Vice President Operations
◇—◇———◇◇
Matthew Batteh
Executive Vice President & Chief Financial Officer
◇—◇———◇◇
Anthony Norwood
Executive Vice President & Chief Human Resources Officer
◇—◇———◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Anthony R. NorwoodPSU◇◇◇—◇—◇
Anthony R. NorwoodRSU◇——◇——◇
Frederick J. Holzgrefe IIIPSU◇◇◇—◇—◇
Frederick J. Holzgrefe IIIRSU◇——◇——◇
Matthew J. BattehPSU◇◇◇—◇—◇
Matthew J. BattehRSU◇——◇——◇
Patrick D. SugarRSU◇——◇——◇
Patrick D. SugarPSU◇◇◇—◇—◇
Raymond R. RamuPSU◇◇◇—◇—◇
Raymond R. RamuRSU◇——◇——◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Anthony NorwoodRSU◇◇——
PSU◇◇——
Matthew BattehRSU◇◇——
PSU◇◇——
Raymond RamuRSU◇◇——
PSU◇◇——
Patrick SugarRSU◇◇——
PSU◇◇——
Frederick HolzgrefeRSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Richard D. O'Dell
Board chair
◇◇————◇
Randolph W. Melville
Lead independent director
◇◇————◇
Di-Ann Eisnor
—◇————◇
Susan F. Ward
◇◇————◇
Jeffrey C. Ward
—◇————◇
Donna E. Epps
◇◇————◇
Donald R. James
◇◇————◇
Kevin A. Henry
—◇————◇
John P. Gainor Jr
—◇————◇
Frederick J. Holzgrefe III served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as restricted stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Air Transport Services Group, Inc. ATSG
  • ArcBest Corporation ARCB
  • Forward Air Corporation FWRD
  • Hub Group, Inc. HUBG
  • Knight-Swift Transportation Holdings Inc. KNX
  • Landstar System, Inc. LSTR
  • Marten Transport, Ltd. MRTN
  • Matson, Inc. MATX
  • Old Dominion Freight Line, Inc. ODFL
  • Schneider National, Inc. SNDR
  • TFI International Inc. symbol not shown
  • Universal Logistics Holdings ULH
  • Werner Enterprises, Inc. WERN
  • XPO, Inc. XPO
PSU Group
  • CH Robinson Worldwide, Inc. CHRW
  • CSX Corporation CSX
  • Expeditors International of Washington, Inc. EXPD
  • FedEx Corporation FDX
  • Heartland Express, Inc. HTLD
  • J.B. Hunt Transport Services, Inc. JBHT
  • Norfolk Southern Corporation SO
  • Rush Enterprises, Inc. RUSHB
  • Ryder System, Inc. R
  • Union Pacific Corporation UNP
  • United Parcel Service, Inc. UPS
Additional disclosed peer group
  • GXO Logistics, Inc. GXO

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 29, 2026=◇◇◇
2024April 24, 2025=◇◇◇
2023April 25, 2024=◇◇◇
2022April 27, 2023=◇◇◇
2021April 29, 2022=◇◇◇
2020April 27, 2021=◇◇◇
2019April 28, 2020=◇◇◇
2018April 30, 2019=◇◇◇
2017April 26, 2018=◇◇◇
2016April 27, 2017=◇◇◇
2015April 26, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
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What this page does not include

Everything above is a fact Saia Inc disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Saia Inc sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
200 figures on this page: 189 cited to the filing that reported them, 11 calculated from figures it prints.
189 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001193125-26-206817
  2. 0001193125-26-107135
  3. 0000950170-25-061075
  4. 0000950170-24-051352
    Item 5.07 Submission of Matters to a Vote of Security Holders
  5. 0000950170-23-015892
  6. 0001564590-22-017506
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001564590-21-022835
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001564590-20-020829
  9. 0001564590-19-015354
  10. 0001564590-18-010294
  11. 0001564590-17-008454
  12. 0001564590-16-017190
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Saia Inc executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/SAIA (accessed 2026).
Short form: data: Velarion

The Saia Inc brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
12 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Peers Saia Inc discloses

The companies named in SAIA's own disclosed peer group.

ArcBest CorporationForward Air CorporationHub Group, Inc.Knight-Swift Transportation Holdings Inc.Landstar System, Inc.Marten Transport, Ltd.Matson, Inc.Old Dominion Freight Line, Inc.Schneider National, Inc.Universal Logistics HoldingsWerner Enterprises, Inc.XPO, Inc.CH Robinson Worldwide, Inc.CSX CorporationExpeditors International of Washington, Inc.FedEx CorporationHeartland Express, Inc.J.B. Hunt Transport Services, Inc.Norfolk Southern CorporationRush Enterprises, Inc.Ryder System, Inc.Union Pacific CorporationUnited Parcel Service, Inc.GXO Logistics, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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