Ballard Joey 4

What Happened
Joey Ballard, EVP and Chief People & Safety Officer of Covenant Logistics Group, had 5,516 restricted shares disposed to the issuer on March 6, 2026. The shares were recorded as a disposition to the issuer at $0.00 per share (total proceeds $0). This was not an open-market sale — the shares were forfeited due to performance targets not being met.

Key Details

• Transaction date: 2026-03-06; Report filed: 2026-03-10 (no late-filing flag indicated in the provided data).
• Price: $0.00 per share; Total proceeds: $0.
• Shares involved: 5,516 restricted shares forfeited.
• Post-transaction holdings: Not specified in the provided filing excerpt.
• Footnote: The forfeiture was under the Third Amended and Restated 2006 Omnibus Incentive Plan — shares were forfeited because the issuer did not achieve the established performance targets, as certified by the compensation committee.

Context
This was a forfeiture of performance-based restricted stock (not a market sale), so it does not indicate the insider selling for liquidity or buying more stock. Forfeitures occur when vesting conditions are not met and are relatively common with performance awards; they reduce the number of shares that would otherwise vest but do not provide proceeds to the insider.