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

Feb 9, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COVENANT TRANSPORTATION GROUP INC (CVTI)
CIK: 0000928658
Period of Report: 2014-07-28

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
2014-07-28	Class A Common Stock	G	1925	—	Disposed	58445	Direct
2014-08-01	Class A Common Stock	G	385	—	Disposed	58060	Direct
2014-11-05	Class A Common Stock	G	1900	—	Disposed	56160	Direct
2014-11-06	Class A Common Stock	G	475	—	Disposed	55685	Direct
2015-02-05	Class A Common Stock	M	2285	$21.43	Acquired	57970	Direct
2015-02-05	Class A Common Stock	S	2285	$28.98	Disposed	55685	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	2285	Disposed	2015-02-16	Class A Common Stock (2285)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	57000	Direct
Class A Common Stock	56679	Indirect

Footnotes

F1: Share amount updated to reflect change in form of beneficial ownership between directly owned shares and shares held jointly with spouse as joint tenants.

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: Shares held jointly with spouse as joint tenants.

F4: The number of shares beneficially owned following the reported transaction is equal to the reporting person's February 2, 2015, account balance in the employer stock fund under the issuer's 401(k) plan, divided by the closing price on February 2, 2015. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.