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COVENANT LOGISTICS GROUP, INC.·4

Feb 20, 6:14 PM ET

PARKER DAVID RAY 4

Research Summary

AI-generated summary

Updated

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.