OLD DOMINION FREIGHT LINE, INC. (ODFL) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that OLD DOMINION FREIGHT LINE, INC. surfaced in its latest filing.

• EPA finalized stringent emission standards in December 2022 under the Clean Trucks PlanDecember 2022
• CARB adopted nitrogen oxide standards in December 2021 and approved the Advanced Clean Trucks regulation requiring increasing ZEV salesDecember 2021
• The company finances capital expenditures and planned growth with existing cash, cash flows from operations, issuance of debt including under a note purchase and private shelf agreement, and borrowings under its existing senior unsecured credit agreement
• Dividend payments are restricted by certain covenants under our revolving credit facility and note purchase and private shelf agreement
• The revolving credit facility and note purchase and private shelf agreement include provisions that may limit the company's ability to make payments for share repurchases
• Subject to the requirements of the Foreign Corrupt Practices Act of 1977
• The California Consumer Privacy Act and other similar laws could result in claims, legal or regulatory proceedings
• Subject to FMCSA's ELD regulations and guidance, including fleet and safety management systems on ELD platform
• Regulated by DOT and various state and federal agencies; subject to cargo-security and transportation regulations by TSA and CBP within DHS
• David S. Congdon, John R. Congdon, Jr. and their affiliate family members beneficially own approximately 10% of outstanding common stock