Russell Gerdin was the Chairman and CEO of Heartland Express, a transportation company, from 1980 until his retirement in 2011. Born in 1941, Gerdin never went for the typical big bonuses or stock options. He kept his salary steady at...

Russell Gerdin was the Chairman and CEO of Heartland Express, a transportation company, from 1980 until his retirement in 2011. Born in 1941, Gerdin never went for the typical big bonuses or stock options. He kept his salary steady at $300,000 since 1986, even requesting that it not be raised. Instead, he focused on owning a substantial amount of the company's stock, around 33.9%, which tied his wealth directly to the performance of Heartland. This approach highlighted his confidence in the company and its future. There’s a family connection too; when Gerdin stepped down due to health reasons in 2011, his son, Michael Gerdin, took over as CEO. His legacy includes not just building Heartland Express but also establishing a culture that prioritized stockholder interests over quick payoffs, earning respect in the industry.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Heartland Express CEOs

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Russell Gerdin

Founder and Ex-CEO of Heartland Express

Education

Not specified

Field of Expertise

Transportation & Logistics - Transportation

Sector of Economy

Industrials

Born

January 1, 1941 - 84 years ago

CEO of Heartland Express for

31 years 8 months (Jan 1980 - Sep 2011)

Previous Experience

Founder of Heartland Express, Inc.

Rivals

Competitors/colleagues of Russell Gerdin

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Derek J. Leathers

CEO of Werner Enterprises

2022 Compensation

Stock

$0.00

Salary

$875.00K

Bonus

$0.00

Other

$133.74K

Total Holdings

$13.66M

M

Timothy M. Kohl

CEO of Marten Transport

2023 Compensation

Stock

$169.29K

Salary

$744.65K

Bonus

$0.00

Other

$8.84K

Total Holdings

$3.85M

S

Mark Rourke

CEO of Schneider National

2023 Compensation

Stock

$1.57M

Salary

$941.67K

Bonus

$1.30M

Other

$149.06K

Total Holdings

$7.63M

H

Phillip D. Yeager

CEO of HUB Group

2023 Compensation

Stock

$703.05K

Salary

$750.00K

Bonus

$0.00

Other

$64.64K

Total Holdings

$25.31M

Holdings

See how much did Russell Gerdin make over time.

Russell Gerdin held a major stake in Heartland Express, owning about 33.9% of the company’s outstanding shares. Over the years, this stock ownership was his main source of wealth, rather than relying on salary increases or bonuses. His salary remained...

Russell Gerdin held a major stake in Heartland Express, owning about 33.9% of the company’s outstanding shares. Over the years, this stock ownership was his main source of wealth, rather than relying on salary increases or bonuses. His salary remained consistent at $300,000 annually since 1986. At times, he held a value of over $30 million just in stock. Though he officially retired in 2011, Gerdin’s significant stock ownership means he had a vested interest in the company's success, ensuring his motivations aligned with those of the shareholders. His shares came from a long-standing commitment to the company, showing that he believed in its growth and profitability.

Mar 17, 2025

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shares

HTLD @ $9.53

Charitable Transactions

HTLD

8,015,000 shares

HTLD

Recent Charitable Transactions

HTLD

4,000,000 shares

HTLD

Aug 19, 2011

Charity

HTLD

4,000,000 shares

HTLD

Aug 11, 2011

Charity

HTLD

15,000 shares

HTLD

Feb 22, 2011

Charity

Insider Trading

See recent insider trades of Russell Gerdin.

HTLD

4,000,000 shares

HTLD

Aug 19, 2011

Charity

HTLD

4,000,000 shares

HTLD

Aug 11, 2011

Charity

HTLD

15,000 shares

HTLD

Feb 22, 2011

Charity

Compensation History

See how much did Russell Gerdin make over time.

Russell Gerdin's compensation package was quite unique for a CEO. He decided early on that he didn't want bonuses or stock options. Instead, he requested a steady salary of $300,000 a year that he kept for decades, showing a commitment to long-term equity over short-term rewards. While he received no bonuses or stock grants, his significant ownership of the company provided him a financial incentive linked directly to Heartland’s success. This philosophy made him a distinctive figure in executive compensation, focusing more on company performance than on personal financial increases through traditional compensation routes.

Year

2011

Total Compensation

$207.69K

Salary

$207.69K

Board Justification

The compensation philosophy is designed to attract and retain well-qualified executives, provide incentives for achievement of corporate goals, and align management interests with stockholders.

Bonus

$0.00

Board Justification

No cash bonuses were paid during 2011 to the Named Executive Officers.

Other

$0.00

Board Justification

No other compensation was reported for Russell Gerdin in 2011.

Restricted Stock

$0.00(0 common stock)

Board Justification

No stock awards were granted in 2011; all previously issued stock awards for executive officers were fully vested as of March 7, 2007.

Performance Metrics

The performance metrics for compensation were based on the company's operating performance, operating margin, revenue and net income growth rates.

Other Heartland Express CEOs

Here are other CEOs of Heartland Express

Michael Gerdin

CEO of Heartland Express

September 2011 - Present