COVENANT LOGISTICS GROUP, INC. — Director's Dealing 2010

Jan 14, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COVENANT TRANSPORTATION GROUP INC (CVTI)
CIK: 0000928658
Period of Report: 2010-01-12

Reporting Person: WALKUP CHRISTOPHER (SENIOR VP OF OPERATIONS OF SUB)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-01-12	Class A Common Stock	A	0	—	Acquired	0	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	8600	Direct

Footnotes

F1: Represents a restricted stock award under the 2006 Omnibus Incentive Plan, as such plan may be amended from time to time. The shares subject to the award vest in approximately one-third increments when and to the extent the issuer's Class A common stock trades at or above $7.00, $9.00, and $11.00 for twenty consecutive trading days during the period beginning January 1, 2011, and ending on December 31, 2015, subject to continued employment and the specific terms of the award notice.

F2: The reporting person acquired an amount equal to approximately $8,750, to be converted to shares based upon the closing price of the issuer's Class A common stock on the date the blackout period lifts following release of the issuer's first quarter 2010 earnings.

F3: Aggregate amount of securities beneficially owned following the reported transaction does not include the amount of securities that will be acquired upon the conversion to shares of approximately $8,750, based upon the closing price of the issuer's Class A common stock on the date the blackout period lifts following release of the issuer's first quarter 2010 earnings.