COVENANT LOGISTICS GROUP, INC. — Director's Dealing 2024

Feb 29, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COVENANT LOGISTICS GROUP, INC. (CVLG)
CIK: 0000928658
Period of Report: 2024-02-27

Reporting Person: PARKER DAVID RAY (N/A)
Reporting Person: PARKER JACQUELINE F (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-02-27	Class A Common Stock	S	20188	$51.0085	Disposed	176349	Direct
2024-02-27	Class A Common Stock	S	1812	$51.8465	Disposed	174537	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-02-28	Employee Stock Option (Right to Buy)	$21.24	A	300000	Acquired	2031-04-06	Class A Common Stock (300000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	1192071	Direct
Class A Common Stock	37855	Indirect
Class B Common Stock	2350000	Direct

Footnotes

F1: The price reflects a weighted average sale price for multiple transactions ranging from $50.74 to $51.60, 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 price.

F2: The price reflects a weighted average sale price for multiple transactions ranging from $51.80 to $52.005, 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 price.

F3: Shares owned jointly by Mr. and Mrs. Parker, as joint tenants with rights of survivorship.

F4: The number of shares beneficially owned following the reported transaction is equal to Mr. Parker's February 27, 2024 account balance in the employer stock fund under the issuer's 401(k) plan, divided by the closing price on February 27, 2024. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.

F5: On April 6, 2021, Mr. Parker was granted an option to purchase 300,000 shares of Class A common stock, subject to vesting based on the issuer's satisfaction of certain performance criteria for the year ended and the three-year period ended December 31, 2023. On February 28, 2024, the Compensation Committee of the issuer certified that the performance criteria were met.