Knight-Swift Transportation Holdings Inc.

Note 9 —Accrued Payroll and Purchased Transportation

The following table presents the composition of accrued payroll and purchased transportation:

1 Accrued payroll includes accruals related to the Knight-Swift 401(k) Retirement Plan (the "401(k) Plan") which is offered by the Company to its employees. Eligible employees must be at least 18 years of age, have completed ninety days of service, and belong to an Eligible Class of Employees (as defined in the 401(k) Plan) with the Company in order to participate in the 401(k) Plan. The Employer may (as defined in the 401(k) Plan) make discretionary matching contributions to the 401(k) Plan. Employees earn vested interests in their employer contribution accounts over a period of five years based upon their years of service.

The Company's employee benefits expense for matching contributions related to the 401(k) plans was approximately $22.9 million, $31.5 million, and $31.3 million in 2025, 2024, and 2023, respectively. This expense was included in "Salaries, wages, and benefits" in the consolidated statements of comprehensive income. As of December 31, 2025 and 2024, the balance above in accrued payroll included $25.9 million and $39.2 million, respectively, in matching contributions for the 401(k) plans.