SEC Form 4 · accession 0001140361-15-006085
COVENANT LOGISTICS GROUP, INC. · CVLG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
David Ray Parker
Officer — CHAIRMAN, PRESIDENT AND CEO · Director · 10% Owner
Jacqueline F Parker
10% Owner
Period of report
Feb 10, 2015
Accepted (ET)
Feb 12, 2015 · 6:13 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000928658
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common Stock | Feb 10, 2015 | M | 5,690 | $21.43 | A | 143,742 | D | |
| Class A Common StockF2 | Feb 10, 2015 | S | 5,690 | $27.501 | D | 138,052 | D | |
| Class A Common StockF3 | holding | — | — | — | 3,238,477 | D | ||
| Class A Common StockF4 | holding | — | — | — | 100,000 | I | Fn | |
| Class A Common StockF5 | holding | — | — | — | 27,543 | I | 401(k) | |
| Class B Common StockF3 | holding | — | — | — | 2,350,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right-to-Buy) Class A Common Stock | $21.43 | Feb 10, 2015 | M | 5,690 | D | Feb 16, 2005 | Feb 16, 2015 | Class A Common Stock | 5,690 | 0 | D |
Explanation of responses
- F1Represents 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.
- F2Price reflects a weighted average sale price for multiple transactions ranging from $27.30 to $27.75 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.
- F3Shares owned jointly by Mr. Parker and his wife, Jacqueline F. Parker, as joint tenants with rights of survivorship.
- F4Shares are owned by the Parker Family Limited Partnership, of which Mr. and Mrs. Parker are the general partners.
- F5The 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.