SEC Form 4 · accession 0001140361-16-056145
COVENANT LOGISTICS GROUP, INC. · CVLG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard B Cribbs
Officer — EVP AND CFO
Period of report
Feb 29, 2016
Accepted (ET)
Mar 2, 2016 · 8:17 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 29, 2016 | M | 2,500 | $12.79 | A | 57,821 | D | |
| Class A Common StockF1 | Feb 29, 2016 | S | 2,500 | $21.9443 | D | 55,321 | D | |
| Class A Common StockF2 | Feb 29, 2016 | F | 1,494 | $22.16 | D | 53,827 | D | |
| Class A Common StockF3 | holding | — | — | — | 7,878 | I | 401(k) |
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)F4 | $12.79 | Feb 29, 2016 | M | 2,500 | D | May 23, 2009 | May 23, 2016 | Class A Common Stock | 2,500 | 0 | D |
Explanation of responses
- F1Exercise and sale pursuant to broker-assisted cashless exercise.
- F2Represents the number of shares deemed withheld to satisfy tax withholding obligations upon vesting of restricted stock granted to the reporting person.
- F3The 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.
- F4The 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.