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

Aug 19, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COVENANT TRANSPORTATION GROUP INC (CVTI)
CIK: 0000928658
Period of Report: 2009-06-30

Reporting Person: LOVIN RALPH H JR (Sr VP-Admin & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-06-30	Class A Common Stock	F	1859	$5.50	Disposed	60681	Direct
2010-04-05	Class A Common Stock	F	644	$6.34	Disposed	60037	Direct
2010-05-06	Class A Common Stock	D	3000	$0.00	Disposed	57037	Direct
2010-05-07	Class A Common Stock	F	644	$7.44	Disposed	56393	Direct
2010-06-30	Class A Common Stock	F	1654	$6.76	Disposed	54739	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	10884	Indirect

Footnotes

F1: Represents shares surrendered to the issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock granted to the reporting person, but inadvertently not reported. Subsequent filings on Forms 4 did not reflect this forfeiture in Table 1, Item 5.

F2: Represents the forfeiture of restricted stock originally granted under the 2006 Omnibus Incentive Plan on May 23, 2006, due to the issuer not achieving the established performance targets, as certified by the issuer's compensation committee on the transaction date, but inadvertently not reported.

F3: The number of shares beneficially owned following the reported transaction is equal to the reporting person's August 17, 2010, account balance in the employer stock fund under the issuer's 401(k) plan divided by the closing price on August 17, 2010. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.