COVENANT LOGISTICS GROUP, INC. — Director's Dealing 2016

Mar 3, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COVENANT TRANSPORTATION GROUP INC (CVTI)
CIK: 0000928658
Period of Report: 2016-02-29

Reporting Person: CRIBBS RICHARD B (EVP AND CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-29	Class A Common Stock	M	2500	$12.79	Acquired	57821	Direct
2016-02-29	Class A Common Stock	S	2500	$21.9443	Disposed	55321	Direct
2016-02-29	Class A Common Stock	F	1494	$22.16	Disposed	53827	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-02-29	Employee Stock Option (Right-to-Buy)	$12.79	M	2500	Disposed	2016-05-23	Class A Common Stock (2500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	7878	Indirect

Footnotes

F1: Exercise and sale pursuant to broker-assisted cashless exercise.

F2: Represents the number of shares deemed withheld to satisfy tax withholding obligations upon vesting of restricted stock granted to the reporting person.

F3: The number of shares beneficially owned is equal to the reporting person's February 29, 2016, account balance in the employer stock fund under the issuer's 401(k) plan, divided by the closing price on February 29, 2016. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.

F4: The option to purchase 2,500 shares of Class A common stock was exercisable between May 23, 2007 and May 23, 2009, at the rate of one-third per year.