<SEC-DOCUMENT>0001214659-25-006281.txt : 20250423
<SEC-HEADER>0001214659-25-006281.hdr.sgml : 20250423
<ACCEPTANCE-DATETIME>20250423154600
ACCESSION NUMBER:		0001214659-25-006281
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250423
DATE AS OF CHANGE:		20250423
EFFECTIVENESS DATE:		20250423

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OLD DOMINION FREIGHT LINE, INC.
		CENTRAL INDEX KEY:			0000878927
		STANDARD INDUSTRIAL CLASSIFICATION:	TRUCKING (NO LOCAL) [4213]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				560751714
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19582
		FILM NUMBER:		25861245

	BUSINESS ADDRESS:	
		STREET 1:		500 OLD DOMINION WAY
		CITY:			THOMASVILLE
		STATE:			NC
		ZIP:			27360
		BUSINESS PHONE:		3368895000

	MAIL ADDRESS:	
		STREET 1:		500 OLD DOMINION WAY
		CITY:			THOMASVILLE
		STATE:			NC
		ZIP:			27360

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OLD DOMINION FREIGHT LINE INC/VA
		DATE OF NAME CHANGE:	19930328

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AS YOU SOW
		CENTRAL INDEX KEY:			0001086462
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			CA

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		2150 KITTREDGE ST.
		STREET 2:		SUITE 450
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94704
		BUSINESS PHONE:		510-735-8155

	MAIL ADDRESS:	
		STREET 1:		2150 KITTREDGE ST.
		STREET 2:		SUITE 450
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94704
</SEC-HEADER>
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<FILENAME>z423250px14a6g.htm
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
Notice of Exempt Solicitation Pursuant to Rule 14a-103</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Name of Registrant: Old Dominion Freight Line Inc
(ODFL)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Name of person relying on exemption: As You Sow<sup>&reg;</sup></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Address of persons relying on exemption: 11461
San Pablo Ave, Suite 400, El Cerrito, CA 94530</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The attached written materials are submitted pursuant
to Rule 14a-6(g)(1) promulgated under the Securities Exchange Act of 1934.&#8239;As You Sow<sup>&reg;</sup> does not beneficially own more than $5
million of the class of subject securities, and this notice of exempt solicitation is therefore being provided on a voluntary basis.</P>

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    <TD ROWSPAN="2" STYLE="white-space: nowrap; vertical-align: top; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 10%"><FONT STYLE="font-size: 8pt; color: #00813D"><B>11461 San Pablo Avenue, Suite 400&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: top; width: 80%; white-space: nowrap"><FONT STYLE="font-size: 8pt; color: #73C167"><B>www.asyousow.org</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt; color: #00813D"><B>El Cerrito, CA 94530</B></FONT></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt; color: #00813D"><B>&nbsp;&nbsp;&nbsp;</B></FONT></P></TD>
    <TD STYLE="text-align: right; white-space: nowrap"><FONT STYLE="font-size: 7.5pt; color: #73C167">BUILDING A SAFE, JUST, AND SUSTAINABLE WORLD SINCE 1992</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Old Dominion Freight Line Inc (ODFL)<BR>
Vote Yes: Item 5 &ndash; Shareholder Proposal Regarding</P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Emission Reduction Targets</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Annual Meeting: May 21, 2025</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONTACT: Diana Myers| dmyers@asyousow.org</P>

<P STYLE="font: bold 6pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">THE RESOLUTION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">BE IT RESOLVED: Shareholders request the Board disclose how Old Dominion
intends to reduce its Scope 1 and 2 greenhouse gas emissions in alignment with interim and long-term climate targets aligned with the
Paris Agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SUPPORTING STATEMENT: Proponents suggest, at management discretion,
the Company disclose:</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>A timeline for setting emission reduction targets; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>An enterprise-wide emissions transition plan to meet evolving consumer demand and regulations, including anticipated costs and emissions
reductions.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">SUMMARY</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The Intergovernmental Panel on Climate Change emphasizes that immediate
emissions reductions are necessary to prevent the most severe consequences of climate change. The transportation sector accounts for 28%
of total U.S. emissions, making it the largest contributor of greenhouse gas emissions and thereby a critical participant in reducing
climate-related risks.<SUP>1</SUP> Investor demand for science-based emissions reduction targets reflects recognition that companies and
investors face increasing exposure to physical, competitive, and systemic climate risks.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Old Dominion Freight Line Inc, a leading less-than-truckload (LTL)<SUP>2</SUP>
carrier with a fleet of 10,700 vehicles across the continental United States, faces customer and investor demand for decarbonized supply
chains. Old Dominion relies on diesel-fueled semi-trucks which are emissions intensive and have a disproportionate impact on employee
and community health.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Old Dominion operates in a market where customers have many companies
and shipping services from which to choose. Many large customers are working to achieve their own greenhouse gas reduction targets demonstrating
that the availability of low-carbon services in trucking is valued and can differentiate Old Dominion from its peers. Unfortunately, Old
Dominion lacks a clear low-carbon strategy, raising concern about its long-term competitiveness. It lags its competitors in setting emissions
reduction targets, integrating alternative vehicles, and providing customer-specific decarbonization services.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Furthermore, despite receiving a similar shareholder proposal last
year asking for science-aligned emissions reductions targets -- which earned nearly 25% shareholder support -- the Company has not demonstrated
any meaningful progress and d<FONT STYLE="font-size: 11pt">eclined to continue dialogue with the proponent. </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> https://www.epa.gov/greenvehicles/fast-facts-transportation-greenhouse-gas-emissions</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2</SUP> &ldquo;Less than truckload or LTL is a trucking option
for shipments that are not large enough to take up the capacity of an entire truck. Instead, LTL shipments are consolidated with other
small shipments to fill up a truck.&rdquo; https://www.freightright.com/kb/what-is-less-than-truckload</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2025
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Old Dominion Freight Line Inc | Shareholder Proposal
on Emission Reduction Targets</FONT></P>
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</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Establishing a plan to reduce emissions in alignment with the Paris
Agreement will help Old Dominion mitigate climate-related financial and systemic risks and take advantage of opportunities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">RATIONALE FOR A YES
VOTE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>Old Dominion is exposed to competitive and climate-related risks.</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>Old Dominion does not disclose how it intends to reduce emissions aligned with a 1.5&deg;C ambition.</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>Old Dominion lags peers in setting 1.5&deg;C-aligned ambitions and actions.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">DISCUSSION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 10pt 0pt 0; text-indent: 0.5in"><B>1. Old Dominion is exposed to competitive
and climate-related risks. </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Customers: </B>Demand is growing for low-carbon transportation.<SUP>3</SUP>
Old Dominion acknowledges in its 10-K that there is &ldquo;a focus from regulators and our customers on sustainability matters&rdquo;
and that such focus may result in additional customer requirements.<SUP>4</SUP> Low-carbon shipping allows customers to align with their
environmental targets, meet regulatory requirements, enhance brand reputation, achieve cost savings, and mitigate supply chain risk.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">More than a third of the world&rsquo;s largest 2,000 publicly listed
companies have set emission reduction targets that cover all or part of their Scope 3 emissions&mdash;those from their value chains, including
transportation.<SUP>5</SUP> To date, 550 North American companies have set ambitious science-based Scope 3 targets through SBTi.<SUP>6</SUP>
Old Dominion will likely lose market share if it is not able to provide low-carbon services to its customers.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 10pt 0pt 0"><B>Regulations: </B>Old Dominion notes that its heavy-duty
trucks are subject to emissions-control regulations that could increase operating expenses and that future regulations concerning emissions,
fuel-efficiency, and sustainability requirements may adversely affect its financial condition and operations.<SUP>7</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">While the current federal regulatory landscape remains uncertain in
the U.S., proactive action allows the Company to meet customer demand and enables the Company to avoid costly, last-minute adjustments
required by changing laws and regulations. The process of changing federal vehicle emission standards is likely to be lengthy, and a future
administration may reinstate stricter standards.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">At the state level, California, Oregon, and Washington have already
enacted clean fuel standards that regulate the carbon intensity of transportation fuels, with 22 additional states considering or introducing
<FONT STYLE="font-size: 11pt">such actions.<SUP>8</SUP> California represents Old Dominion&rsquo;s third largest market.<SUP>9</SUP></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><B>_____________________________</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> https://www.mckinsey.com/capabilities/operations/our-insights/decarbonizing-logistics-charting-the-path-ahead</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>4</SUP> <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000878927/000095017025026661/odfl-20241231.htm">https://www.sec.gov/ix?doc=/Archives/edgar/data/0000878927/000095017025026661/odfl-20241231.htm</A>,
p.15</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>5</SUP> https://zerotracker.net/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>6</SUP> https://sciencebasedtargets.org/target-dashboard</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>7</SUP> <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000878927/000095017025026661/odfl-20241231.htm">https://www.sec.gov/ix?doc=/Archives/edgar/data/0000878927/000095017025026661/odfl-20241231.htm</A>,
p.15</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>8</SUP> https://theincubex.com/states-and-provinces-with-lcfs-markets-2/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>9</SUP> https://d1io3yog0oux5.cloudfront.net/_9d2735c134b114e624626703524b3d69/odfl/db/426/4180/pdf/4Q2024_February.pdf,
p.16</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2025
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Old Dominion Freight Line Inc | Shareholder Proposal
on Emission Reduction Targets</FONT></P>
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</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Operational Benefits: </B>Early action on decarbonizing operations
offers significant advantages for companies.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Old Dominion operates over 10,000 heavy-duty trucks, making fuel a
significant operating expense. As noted in the Company&rsquo;s 10-K, &ldquo;An increase in diesel fuel prices or diesel fuel taxes&rdquo;
could have a material adverse effect on its operating results.<SUP>10</SUP> Improving fleet fuel economy can reduce emissions and costs.
Adopting fuel-saving technologies and practices, like capping maximum cruise speed, can have a high return on investment and improve the
profitability of a fleet.<SUP>11</SUP> While the Company discusses some actions it is taking to increase its fuel economy and efficiency,
it is unclear how such actions will add up toward successfully navigating a low-carbon future, including demands by its customers.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Relying solely on diesel fuel exposes fleets to volatile fuel costs,
whereas diversifying fuel sources can help mitigate the financial risks associated with fluctuating commodity prices. Battery electric
vehicles across classes are expected to achieve cost parity with diesel by 2030 driven by greater energy efficiency, new battery technologies,
and lower operating costs.<SUP>12</SUP> The five largest heavy-duty vehicle manufacturers&mdash;representing over 85% of domestic capacity&mdash;are
reconfiguring their facilities to produce heavy-duty Zero Emission Vehicles (ZEVs).<SUP>13</SUP> Several of these manufacturers, like
Daimler and Volvo, have pledged to sell only zero-emission trucks by 2040.<SUP>14</SUP> These efforts are increasing production capacity
particularly in the heavy-duty segment. More than 70% of zero-emission trucks registered in 2023 were Class 8 tractors.<SUP>15</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Moreover, the transition to zero-emission vehicles significantly reduces
diesel pollution, directly improving driver health and safety&mdash;an important factor in workforce retention within a competitive labor
market.<SUP>16</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>2. Old Dominion does not disclose how it intends to reduce
emissions aligned with a 1.5&deg;C ambition.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Investors increasingly expect companies to align with the Paris Agreement&rsquo;s
goal of limiting global warming to 1.5&deg;C.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">While the Company has implemented measures such as route optimization
and maintaining a younger fleet, these efforts do not constitute a comprehensive strategy to achieve alignment with a 1.5&deg;C pathway.
The Company features its increased use of renewable fuels but reporting shows that renewable fuels account for only around 5% of its total
fuel consumption.<SUP>17</SUP> The potential for further emissions reductions through fuel switching to diesel alternatives remains uncertain,
as many engines h<FONT STYLE="font-size: 11pt">ave fuel usage specifications based on manufacturers&rsquo; guidelines.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>10</SUP> <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000878927/000095017025026661/odfl-20241231.htm">https://www.sec.gov/ix?doc=/Archives/edgar/data/0000878927/000095017025026661/odfl-20241231.htm</A>,
p.8</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>11</SUP> https://nacfe.org/research/affs/#top</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>12</SUP> https://nacfe.org/research/emerging-technologies/electric-trucks/charting-the-course-for-early-truck-electrification/rch/emerging-technologies/electric-trucks/charting-the-course-for-early-truck-electrification/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>13</SUP> https://www.atlasevhub.com/weekly-digest/new-report-manufacturing-capacity-for-heavy-duty-zero-emission-vehicles-in-the-united-states/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>14</SUP> https://theicct.org/wp-content/uploads/2023/04/tco-alt-powertrain-long-haul-trucks-us-apr23.pdf,
p.1</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>15</SUP> https://theicct.org/publication/zero-emission-bus-and-truck-market-in-the-us-2022-2023-update-june24/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>16</SUP> https://www.epa.gov/dera/learn-about-impacts-diesel-exhaust-and-diesel-emissions-reduction-act-dera</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>17</SUP> https://d1io3yog0oux5.cloudfront.net/_af4e52af00cd8432e8438413b3e848be/odfl/db/515/4165/pdf/ODFL+2023+ESG+Data+Supplement+Report.pdf,
p.5</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; color: #00813B"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2025
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Old Dominion Freight Line Inc | Shareholder Proposal
on Emission Reduction Targets</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">At last year&rsquo;s annual general meeting, 24% of shareholders supported
the request that Old Dominion develop Paris-aligned emission reduction targets and a plan to achieve them. Despite this significant support,
the Company has not demonstrated any meaningful progress and declined to continue dialogue with the proponent.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Old Dominion has access to both target-setting standards and industry-backed
decarbonization pathways. For example, SBTi&rsquo;s Transport Science-based Target Setting Guidance offers a framework for companies that
own and operate freight trucks, and the Mission Possible Partnership has created an industry-backed 1.5&deg;C-aligned transition strategy
for the trucking sector.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Lastly, to define investor expectations for climate risk management,
members of the CA100+, an investor-led initiative representing more than 600 investors created the Net Zero Benchmark (the Benchmark).
The Benchmark provides a disclosure framework that requires companies to set 1.5&deg;C-aligned interim and long-term emission reduction
targets covering Scope 1, 2, and 3 emissions. Misalignment with the Benchmark is a signal to investors that the Company is lagging best
practices and failing to align its emissions with global goals.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>3. Old Dominion lags peers in setting 1.5&deg;C-aligned
ambitions and actions.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Investors are concerned that Old Dominion&rsquo;s failure to manage
its climate risk is jeopardizing the Company&rsquo;s competitiveness. Peers that prioritize decarbonization are better set to capitalize
on the market opportunities of a low-carbon business model.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">For example, DHL Group, which provides LTL services through its DHL
Freight segment, has committed to achieving net zero emissions by 2050 with interim targets to reduce absolute Scope 1 and 2 emissions
42% and absolute Scope 3 emissions 25% by 2030 from a 2021 base year.<SUP>18</SUP> DHL Group owns and operates 50 heavy-duty electric
yard trucks throughout the U.S. with plans to double the size of this fleet.<SUP>19</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Additionally, J.B. Hunt Transport Services also has a goal to reduce
Scope 1 and 2 emissions per ton-mile 32% by 2034 from a 2019 baseline which it states is aligned with a 2&deg;C trajectory.<SUP>20</SUP>
Knight-Swift Transportation has a goal to reduce CO2 emissions per mile 50% by 2035 from a 2019 baseline.<SUP>21</SUP> Werner Enterprises
has a goal to reduce CO2 emissions per mile 55% by 2035 from a 2020 baseline.<SUP>22</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">By reducing emissions, Old Dominion can mitigate financial risks posed
by <FONT STYLE="font-size: 11pt">shifting consumer demands and retain its advantage in a competitive marketplace. </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><B>_____________________________</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>18</SUP> https://sciencebasedtargets.org/target-dashboard</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>19</SUP> https://www.businesswire.com/news/home/20240109852405/en/DHL-Supply-Chain-Reaches-50-Truck-Milestone-with-Orange-EV-and-Doubles-Down-with-Plans-for-100-E-Yard-Trucks-and-Diesel-Phase-Out-by-2025</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>20</SUP> https://www.jbhunt.com/our-company/newsroom/2022/11/j-b-hunt-ambitious-goal-reduce-carbon-emission-intensity</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>21</SUP> https://s24.q4cdn.com/286931391/files/doc_financials/2024/sr/knx-sustainability-report-2023-final.pdf,
p. 4</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>22</SUP> https://investor.werner.com/ESG/ESG-Overview/default.aspx</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="color: #71C267; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; color: #00813B"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2025
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Old Dominion Freight Line Inc | Shareholder Proposal
on Emission Reduction Targets</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">RESPONSE TO OLD DOMINION
BOARD OF DIRECTORS&rsquo; STATEMENT IN OPPOSITION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The Board states: to significantly reduce emissions, it would need
an economical replacement for existing Class 8 day cab tractors in addition to its continued commitment to operating efficiencies. The
Company in general is concerned about whether equipment and infrastructure are commercially available, including the availability of repair
parts and charging infrastructure. </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Battery electric vehicles across classes are expected to achieve cost
parity with diesel by 2030 driven by greater energy efficiency and lower operating costs. Leading manufacturers are already scaling the
production of Class 8 electric trucks and parts, and infrastructure is increasingly being developed to meet the demand. While the Company
states that it is monitoring EV technology advancements and evolving market conditions, it fails to disclose any quantitative targets,
a commitment to make use of such equipment when available, or any actions to help ensure that it can successfully procure those vehicles
in a competitive marketplace. Communicating a clear plan to reduce its emissions would send a strong signal to investors that the Company
is proactively evaluating emerging solutions and strategically positioning itself for the future.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Shareholders have a long-term interest in ensuring the Company remains
competitive as customer expectations shift and cost-saving technology increases availability. Establishing a clear plan to reduce emissions
would integrate these long-term risks and opportunities into the company&rsquo;s current decision-making, avoiding putting the Company
into a position of having to react late, when it may be left with fewer options.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">CONCLUSION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote &ldquo;Yes&rdquo; on this Shareholder Proposal 5. </B>Establishing
a plan to reduce emissions in alignment with the Paris Agreement will help Old Dominion mitigate climate-related financial and systemic
risks and take advantage of opportunities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>---</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><I>For questions, please contact Diana Myers, As You Sow, dmyers@asyousow.org</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">THE FOREGOING INFORMATION MAY BE DISSEMINATED TO SHAREHOLDERS VIA TELEPHONE,
U.S. MAIL, E-MAIL, CERTAIN WEBSITES AND CERTAIN SOCIAL MEDIA VENUES, AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE OR AS A SOLICITATION
OF AUTHORITY TO VOTE YOUR PROXY. THE COST OF DISSEMINATING THE FOREGOING INFORMATION TO SHAREHOLDERS IS BEING BORNE ENTIRELY BY ONE OR
MORE OF THE CO-FILERS. PROXY CARDS WILL NOT BE ACCEPTED BY ANY CO-FILER. PLEASE DO NOT SEND YOUR PROXY TO ANY CO-FILER. TO VOTE YOUR PROXY,
PLEASE FOLLOW THE INSTRUCTIONS ON YOUR PROXY CARD<I>.</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6</P>

<P STYLE="margin: 0"></P>

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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
