MARTEN TRANSPORT LTD — Director's Dealing 2015

Apr 27, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MARTEN TRANSPORT LTD (MRTN)
CIK: 0000799167
Period of Report: 2015-04-23

Reporting Person: KOHL TIMOTHY M (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-23	Common Stock	M	1640	$11.68	Acquired	81670.17	Direct
2015-04-23	Common Stock	S	1640	$24.0073	Disposed	80030.17	Direct
2015-04-24	Common Stock	M	300	$11.68	Acquired	80330.17	Direct
2015-04-24	Common Stock	S	300	$24	Disposed	80030.17	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-04-23	Employee Stock Option (right to buy)	$11.68	M	1640	Disposed	2015-05-06	Common Stock (1640)	Direct
2015-04-24	Employee Stock Option (right to buy)	$11.68	M	300	Disposed	2015-05-06	Common Stock (300)	Direct

Footnotes

F1: Includes: (i) 1,740 shares granted under a Performance Unit Award Agreement that vest on 12/31/2015 through 12/31/2018, (ii) 1,957 shares granted under a Performance Unit Award Agreement that vest on 12/31/2015 through 12/31/2017, (iii) 600 shares granted under a Performance Unit Award Agreement that vest on 12/31/2015, (iv) 1,275 shares granted under a Performance Unit Award Agreement that vest on 12/31/2015 through 12/31/2016 and (v) 16,712.17 shares that the reporting person has deferred under the Issuer's deferred compensation plan.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.00 to $24.04, inclusive. The reporting person undertakes to provide to Marten Transport, Ltd., any security holder of Marten Transport, Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

F3: This option has fully vested.