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

Feb 10, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COVENANT TRANSPORTATION GROUP INC (CVTI)
CIK: 0000928658
Period of Report: 2011-12-30

Reporting Person: SMITH TONY (President of Subsidiary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-30	Class A Common Stock	S	10000	$2.9813	Disposed	0	Direct
2015-02-05	Class A Common Stock	M	2076	$21.43	Acquired	99278	Direct
2015-02-05	Class A Common Stock	M	10000	$13.64	Acquired	109278	Direct
2015-02-05	Class A Common Stock	S	12076	$29.2472	Disposed	97202	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-05	Employee Stock Option (Right-to-Buy) Class A Common Stock	$21.43	M	2076	Disposed	2015-02-16	Class A Common Stock (2076)	Direct
2015-02-05	Employee Stock Option (Right-to-Buy) Class A Common Stock	$13.64	M	10000	Disposed	2015-05-10	Class A Common Stock (10000)	Direct

Footnotes

F1: Shares were owned jointly by Mr. Smith and his wife as joint tenants with rights of survivorship.

F2: Represents exercise of employee stock option scheduled to expire on February 16, 2015, which avoided forfeiture by the reporting person of such option on such date.

F3: 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.

F4: Price reflects a weighted average sale price for multiple transactions ranging from $29.10 to $29.52 per share, inclusive. 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.