Randall John Baier - Aug 15, 2023 Form 3 Insider Report for MARTEN TRANSPORT LTD (MRTN)

Role: Exec. VP & Chief Tech. Officer
Signature: /s/ James J. Hinnendael, attorney-in-fact
Stock symbol: MRTN
Transactions as of: Aug 15, 2023
Transactions value $: $0
Form type: 3
Date filed: 8/22/2023, 05:19 PM
Next filing: Mar 13, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MRTN	Common Stock						12K	Aug 15, 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
holding	MRTN	Stock Option (right to buy)							Aug 15, 2023	Common Stock	4.5K	$15.17	Direct	F2
holding	MRTN	Stock Option (right to buy)							Aug 15, 2023	Common Stock	3K	$17.36	Direct	F3
holding	MRTN	Stock Option (right to buy)							Aug 15, 2023	Common Stock	3K	$16.93	Direct	F4

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

Explanation of Responses:

Id	Content
F1	Includes: (i) 1,500 shares granted under a Performance Unit Award Agreement that vest on 12/31/2023 through 12/31/2027; (ii) 1,200 shares granted under a Performance Unit Award Agreement that vest on 12/31/2023 through 12/31/2026; (iii) 600 shares granted under a Performance Unit Award Agreement that vest on 12/31/2023 through 12/31/2025; (iv) 600 shares granted under a Performance Unit Award Agreement that vest on 12/31/2023 through 12/31/2024; and (v) 300 shares granted under a Performance Unit Award Agreement that vest on 12/31/2023.
F2	This option has fully vested.
F3	This option vested with respect to 600 shares on each of May 4, 2022 and May 4, 2023 and will vest with respect to 600 shares on each May 4, 2024, May 4, 2025 and May 4, 2026.
F4	This option vested with respect to 600 shares on December 15, 2022, and will vest with respect to 600 shares on each of December 15, 2023, December 15, 2024, December 15, 2025 and December 15, 2026.