PARKER DAVID RAY 4
4 · COVENANT LOGISTICS GROUP, INC. · Filed Feb 20, 2026
Research Summary
AI-generated summary of this filing
Covenant Logistics (CVLG) 10% Owner David Parker Sells Shares
What Happened
- David Parker (listed as a 10% owner) sold a total of 150,400 Covenant Logistics (CVLG) shares in open-market transactions from Feb 18–20, 2026, generating roughly $4.41 million in proceeds. Individual reported lots: 65,000 shares at $29.34 ($1.91M), 55,000 shares at $29.38 ($1.62M), 12,452 shares at $29.47 ($0.37M), and 17,948 shares at $28.98 ($0.52M). These were sales (not purchases or option exercises).
Key Details
- Transaction dates and reported values:
- 2026-02-18: 65,000 shares @ $29.34 — $1,907,029
- 2026-02-19: 55,000 shares @ $29.38 — $1,616,016
- 2026-02-20: 12,452 shares @ $29.47 — $366,978
- 2026-02-20: 17,948 shares @ $28.98 — $520,113
- Total sold: 150,400 shares for about $4,410,136.
- Shares owned after transaction: The filing indicates post-transaction beneficial ownership is tied to Mr. Parker’s employer 401(k) stock-fund account balance (unitized plan) divided by the Feb 18 closing price (see footnote F6); the plan does not allocate a specific share count to participants in whole shares.
- Notable footnotes:
- Several reported prices are weighted averages across multiple trades; the filing provides transaction price ranges and offers to furnish per-trade detail on request (see F1, F3, F4, F5).
- Some holdings are joint between Mr. and Mrs. Parker (F2).
- F6 explains the unitized 401(k) account method for reporting beneficial ownership after the transactions.
- Filing timeliness: Form 4 was filed on Feb 20, 2026 for trades through Feb 20, 2026 — no late filing indication in the provided data.
Context
- These were open-market sales by a reported 10% owner. Sales can be routine (liquidity, diversification, tax planning, etc.); the filing shows the facts but does not state a motive. Because this is a 10% owner rather than a named executive transaction, treat it as insider activity by a significant holder rather than an executive compensation event.
- The filing’s weighted-average price notes mean individual executions occurred across a range of prices; the filer has agreed to provide the per-trade breakdown to the SEC or shareholders on request.
Insider Transaction Report
Form 4
PARKER DAVID RAY
DirectorChairman and CEO10% Owner
Transactions
- Sale
Class A Common Stock
[F1][F2]2026-02-18$29.34/sh−65,000$1,907,029→ 2,132,944 total - Sale
Class A Common Stock
[F3][F2]2026-02-19$29.38/sh−55,000$1,616,016→ 2,077,944 total - Sale
Class A Common Stock
[F4][F2]2026-02-20$29.47/sh−12,452$366,978→ 2,065,492 total - Sale
Class A Common Stock
[F5][F2]2026-02-20$28.98/sh−17,948$520,113→ 2,047,544 total
Holdings
- 227,872
Class A Common Stock
- 76,669(indirect: By 401(k))
Class A Common Stock
[F6] - 4,700,000
Class B Common Stock
[F2]
Footnotes (6)
- [F1]The price reflects a weighted average sale price for multiple transactions ranging from $29.03 to $29.90, inclusive. The reporting persons undertake 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]Shares owned jointly by Mr. and Mrs. Parker, as joint tenants with rights of survivorship.
- [F3]The price reflects a weighted average sale price for multiple transactions ranging from $29.295 to $29.75, inclusive. The reporting persons undertake 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.
- [F4]The price reflects a weighted average sale price for multiple transactions ranging from $29.175 to $30.17, inclusive. The reporting persons undertake 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.
- [F5]The price reflects a weighted average sale price for multiple transactions ranging from $28.73 to $29.17, inclusive. The reporting persons undertake 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.
- [F6]The number of shares beneficially owned following the reported transaction is equal to Mr. Parker's February 18, 2026 account balance in the employer stock fund under the issuer's 401(k) plan, divided by the closing price on February 18, 2026. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.