NIELSON NIEL B 4
4 · COVENANT TRANSPORT INC · Filed Jun 1, 2004
Insider Transaction Report
Form 4
NIELSON NIEL B
Director
Transactions
- Award
Outside Director Option (Right-to-Buy) Class A Common Stock
2004-05-27+2,500→ 2,500 totalExercise: $15.71From: 2004-11-27→ Class A Common Stock (2,500 underlying)
Footnotes (3)
- [F1]The option to purchase 2,500 shares of Class A Common Stock is fully exercisable during its term (i) beginning on the date six months after the grant date, and (ii) after the grant date only while the reporting person is a director of the issuer and for a period of 12 months thereafter.
- [F2]The option to purchase 2,500 shares of Class A Common Stock will expire on the earlier of (i) May 27, 2014, or (ii) one year after the director terminates his services as a director of the issuer.
- [F3]Upon exercise, the derivative security converts on a one-for-one basis into Class A Common Stock. The reporting person does not have to pay for the derivative security upon grant. The exercise price of the derivative security is set forth in Column 2 of Table II of this report.