COVENANT LOGISTICS GROUP, INC. — Director's Dealing 2015

May 1, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COVENANT TRANSPORTATION GROUP INC (CVTI)
CIK: 0000928658
Period of Report: 2015-04-29

Reporting Person: HOGAN JOEY B (SR EX VP & COO/PRES OF SUB.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-29	Class A Common Stock	M	10000	$13.64	Acquired	37875	Direct
2015-04-29	Class A Common Stock	S	10000	$31.79	Disposed	27875	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-04-29	Employee Stock Option (Right-to-Buy) Class A Common Stock	$13.64	M	10000	Disposed	2015-05-10	Class A Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	63344	Direct
Class A Common Stock	28151	Indirect

Footnotes

F1: Represents exercise of employee stock option scheduled to expire on May 10, 2015, which avoided forfeiture by the reporting person of such option on such date.

F2: Price reflects a weighted average sale price for multiple transactions. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a stockholder of the issuer, full information regarding the number of shares sold at each separate price.

F3: Shares are owned jointly by Mr. Hogan and his wife, Melinda J. Hogan, as joint tenants.

F4: The number of shares beneficially owned following the reported transaction is equal to the reporting person's April 29, 2015, account balance in the employer stock fund under the issuer's 401(k) plan, divided by the closing price on April 29, 2015. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.