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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Restricted Stock Award Activity for Employees and Non-Employee Directors

The following table summarizes our restricted stock award activity for employees and non-employee directors:

		Shares				Weighted Average Grant Date Fair Value Per Share
Unvested at January 1, 2022			115,576			$	163.57
Granted			32,292				303.81
Vested			(68,098	)			149.03
Forfeited			(2,045	)			231.47
Unvested at December 31, 2022			77,725			$	232.79

Summary of Activity for PBRSUs for Employees

The following table summarizes our activity for PBRSUs for employees during 2022:

		Shares				Weighted Average Grant Date Fair Value Per Share
Unvested at January 1, 2022			58,007			$	183.93
Granted (a)			19,314				310.21
Vested			(22,785	)			178.24
Forfeited			—				—
Unvested at December 31, 2022			54,536			$	231.03

OLD DOMINION FREIGHT LINE, INC.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

(a) PBRSUs earned may range from zero to 200% of the target award. Actual PBRSUs earned for the 2022 performance period, as determined by the Compensation Committee, were equal to 200% of the target amount.

Summary of the Changes in the Number of Outstanding Phantom Stock Shares

A summary of the changes in the number of outstanding phantom stock awards during the year ended December 31, 2022 is provided below. There were no phantom stock awards granted or forfeited during 2022.

	Total Phantom Shares
Balance of shares outstanding at January 1, 2022		613,996
Settled		(1,476	)
Balance of shares outstanding at December 31, 2022		612,520

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