TOWE RICHARD L 4
4 · COVENANT TRANSPORT INC · Filed Aug 13, 2004
Insider Transaction Report
Form 4
TOWE RICHARD L
Sr VP - Driver Services
Transactions
- Sale
Class A Common Stock
2004-08-12$19.87/sh−5,000$99,337→ 0 total - Exercise/Conversion
Class A Common Stock
2004-08-12$15.39/sh+5,000$76,950→ 5,000 total - Exercise/Conversion
Employee Stock Option (Right to Buy) Class A Common Stock
2004-08-12−5,000→ 2,500 totalExercise: $15.39Exp: 2012-05-16→ Class A Common Stock (5,000 underlying)
Holdings
- 471(indirect: By 401(k))
Class A Common Stock
Footnotes (4)
- [F1]The number of units reported beneficially owned at the date of this report is equal to the reporting person's August 12, 2004, account balance, the latest balance available under the plan, in the employer stock fund under the issuer's 401(k) plan divided by an average of the stock's price at various points throughout the day on August 12, 2003. The fund is unitized and as such does not itself allocate a specific number of shares to each participant.
- [F2]The option to purchase 5,000 shares of Class A Common Stock became exercisable on May 16, 2003, and May 16, 2004, at the rate of 2,500 shares per year, and the remaining balance of the option to purchase, or 2,500 shares of Class A Common Stock, will become exercisable on May 16, 2005.
- [F3]Incentive stock options expire on May 16, 2012. The option to purchase stock options is subject to earlier termination in the event of termination of the reporting person's employment with the issuer. Termination provisions are set forth in the stock option agreement between the reporting person and the issuer and in the issuer's Incentive Stock Plan (Amended and Restated as of May 17, 2001).
- [F4]Upon exercise, the derivative security converts on a one-to-one basis into Class A Common Stock. The exercise price of the derivative security is set forth in Column 2 of Table II of this report.