<SEC-DOCUMENT>0001214659-19-002060.txt : 20190312
<SEC-HEADER>0001214659-19-002060.hdr.sgml : 20190312
<ACCEPTANCE-DATETIME>20190312140442
ACCESSION NUMBER:		0001214659-19-002060
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190312
DATE AS OF CHANGE:		20190312
EFFECTIVENESS DATE:		20190312

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HUNT J B TRANSPORT SERVICES INC
		CENTRAL INDEX KEY:			0000728535
		STANDARD INDUSTRIAL CLASSIFICATION:	TRUCKING (NO LOCAL) [4213]
		IRS NUMBER:				710335111
		STATE OF INCORPORATION:			AR
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11757
		FILM NUMBER:		19674717

	BUSINESS ADDRESS:	
		STREET 1:		615 JB HUNT CORPORATE DR
		STREET 2:		PO BOX 130
		CITY:			LOWELL
		STATE:			AR
		ZIP:			72745
		BUSINESS PHONE:		479-820-0000

	MAIL ADDRESS:	
		STREET 1:		615 JB HUNT CORPORATE DRIVE
		STREET 2:		PO BOX 130
		CITY:			LOWELL
		STATE:			AR
		ZIP:			72745

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRILLIUM ASSET MANAGEMENT, LLC
		CENTRAL INDEX KEY:			0000884541
		IRS NUMBER:				042549211
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		TWO FINANCIAL CENTER
		STREET 2:		60 SOUTH STREET, SUITE 1100
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02111
		BUSINESS PHONE:		617-423-6655

	MAIL ADDRESS:	
		STREET 1:		TWO FINANCIAL CENTER
		STREET 2:		60 SOUTH STREET, SUITE 1100
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02111

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRILLIUM ASSET MANAGEMENT CORP
		DATE OF NAME CHANGE:	20000519

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRANKLIN RESEARCH & DEVELOPMENT CORP
		DATE OF NAME CHANGE:	19990326
</SEC-HEADER>
<DOCUMENT>
<TYPE>PX14A6G
<SEQUENCE>1
<FILENAME>j312191px14a6g.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Name of Registrant</B>: J.B. Hunt Transport Services, Inc.</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"><B>Name of person relying on exemption:</B> Trillium Asset Management,
LLC</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"><B>Address of person relying on exemption: </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">Trillium Asset Management, LLC</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">60 South Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suite 1100</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">02111</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"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 8pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 8pt"><P STYLE="margin: 0pt; font: 8pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear J.B. Hunt Transport Services Shareholder:</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">We are writing to urge you to withhold your vote for the members
of the Nominating and Corporate Governance Committee (NCGC) of J.B. Hunt&rsquo;s Board of Directors. This request is in response
to the Company&rsquo;s action against a shareholder initiative urging the Company to align the impacts of its business with the
global imperative to address climate change.</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">We recommend voting against these committee members, Douglas
Duncan, Francesca Edwardson, Sharilyn Gasaway, Gary George, Coleman Peterson and James Robo, because the NCGC is J.B. Hunt&rsquo;s
Board Committee with oversight of environmental issues, including how J.B. Hunt manages the risks, opportunities and costs associated
with the pressing societal issue of climate change. According to its Charter, one of the NCGC&rsquo;s responsibilities is to:</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 0pt 0.5in">Oversee and monitor management&rsquo;s strategies
and execution of issues to navigate environmental risk by reviewing annual results related to environmental initiatives including,
but not limited to, improving fuel efficiency, converting freight transportation from highway use to intermodal use and participating
in creating commercially viable alternative and/or renewable fuel options to be used to execute its overall corporate strategy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Leaders from nearly every country in the world came together
in 2015 in Paris and established a target to limit global temperature increases to 2&deg;C above pre-industrial levels, ideally
striving for 1.5&deg;C. Achieving this limited warming scenario will require &ldquo;rapid and far-reaching&rdquo; transitions for
many sectors, including transportation, according to a 2018 report from the Intergovernmental Panel on Climate Change.</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">We believe it is imperative the transportation sector do its
part &ndash; the U.S. Energy Information Administration confirms the transportation sector is the largest producer of GHG emissions
in the country having recently surpassed the electricity generation sector.</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">Against this backdrop, shareholders submitted a shareholder
proposal asking J.B. Hunt to adopt company-wide, quantitative targets to reduce its greenhouse gas (GHG) emissions, taking into
account the goals of the Paris Climate Agreement. Many investors, directors, and corporate managers believe setting quantitative,
company-wide GHG targets consistent with the science behind the Paris Climate Agreement is the clearest action a company can take
to align the impacts of its business with the global imperative to address climate change. Therefore, the bottom line of this proposal
was to simply ask J.B. Hunt to do its part to address climate change &ndash; a step that we believe can be taken in a financially
responsible manner.</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">Rather than use the opportunity provided by this proposal to
garner shareholder input, J.B. Hunt sought to omit this proposal by requesting a no-action letter from the SEC. In its no-action
request, J.B. Hunt argued the proposal would micro-manage the Company. Proponents disagree with the Company&rsquo;s line of reasoning
as shareholders have voted on substantially similar proposals hundreds of times at other companies, including twice at J.B. Hunt
in the past four years. In 2018, the proposal received a 21.4 percent vote; a vote result that would have been over 26 percent
when excluding Johnelle Hunt&rsquo;s significant insider shareholdings. However, the more salient point is J.B. Hunt turned down
an opportunity to let shareholders weigh in on whether the Company should be fulfilling what we believe is the Company&rsquo;s
responsibility to address its contributions to climate change &ndash; a responsibility the Company has yet to live up to.</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"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 8pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 8pt"><P STYLE="margin: 0pt; font: 8pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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">J.B. Hunt makes vague claims in its proxy and elsewhere, such
as &ldquo;We strive to keep our fleet energy efficient by continuously improving equipment with after-market updates and routine
maintenance.&rdquo; We take the lack of specificity in the Company&rsquo;s claims as evidence that there is a significant gap between
the Company&rsquo;s current efforts and the level of action required to address its contribution to climate change. Moreover, J.B.
Hunt has not stated an intention to align its operations with global climate goals, which we believe leaves the company with climate-related
risk. To wit, Climate Action 100+, an initiative backed by over 300 investors with more than $33 trillion in AUM, is actively urging
companies to take necessary action on climate change. These investors believe engaging with the companies in which they invest
to align strategies with the Paris Agreement is consistent with their fiduciary duty. Similarly, the Task Force on Climate-related
Financial Disclosures, whose members include BlackRock, JPMorgan Chase and UBS Asset Management recommends companies &ldquo;Describe
the targets used by the organization to manage climate-related risks and opportunities and performance against these targets.&rdquo;</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">J.B. Hunt&rsquo;s course of action also stands in stark contrast
to the hundreds of companies that have set GHG emissions reduction targets and are committing to align their impacts with the goals
of the Paris Agreement. To date, 534 companies have already committed to science-based climate action via the Science Based Targets
Initiative alone.</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">We believe J.B. Hunt&rsquo;s efforts to deny shareholders the
opportunity to weigh in on its approach to managing its climate impacts is an abdication of good corporate governance that will
be detrimental to shareholders. Withholding votes from the members of this Committee will send an important signal to J.B. Hunt&rsquo;s
Board and Management that it needs to demonstrate, through clear action rather than vague words, how it is aligning its operations
with the imperative to reduce GHG emissions.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please contact Allan Pearce at 503-953-8345 or apearce@trilliuminvest.com
for additional information.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Allan Pearce</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Trillium Asset Management, LLC.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">IMPORTANT NOTICE: The cost of this communication is being borne
entirely by Trillium Asset Management, LLC. 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
Trillium. Proxy cards will not be accepted by Trillium. To vote your proxy, please follow the instructions on your proxy card.
These written materials may be submitted pursuant to Rule 14a-6(g)(1) promulgated under the Securities Exchange Act of 1934. Submission
is not required of this filer under the terms of the Rule, but is made voluntarily in the interest of public disclosure and consideration
of these important issues. The reviews expressed are those of the authors and Trillium Asset Management, LLC as of the date referenced
and are subject to change at any time based on market or other conditions. These views are not intended to be a forecast of future
events or a guarantee of future results. These views may not be relied upon as investment advice. The information provided in this
material should not be considered a recommendation to buy or sell any of the securities mentioned. It should not be assumed that
investments in such securities have been or will be profitable. To the extent specific securities are mentioned, they have been
selected by the authors on an objective basis to illustrate views expressed in the commentary and do not represent all of the securities
purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable
but is not guaranteed by us as to its timeliness or accuracy, and is not a complete summary or statement of all available data.
This piece is for informational purposes and should not be construed as a research report.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2px solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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



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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
