PARKER DAVID RAY 4

4 · COVENANT LOGISTICS GROUP, INC. · Filed May 1, 2026

AI-generated summary of this filing

Updated May 1, 2026

Covenant Logistics (CVLG) 10% Owner David Parker Exercises Options

What Happened

David R. Parker, a reported 10% owner of Covenant Logistics Group (CVLG), exercised options on April 29, 2026, converting a total of 165,332 option units (155,916 + 9,416) into common shares at an exercise price of $10.62, costing about $1,755,826 in aggregate.
To satisfy exercise-related obligations, 95,760 shares were surrendered/withheld (transaction code F) at a reported value of $34.84 per share, totaling $3,336,278. Separately, Mr. Parker also made a gift of 70,000 shares (transaction code G). Several derivative entries (code M at $0) reflect the conversion of the options into shares.

Key Details

Transaction date: April 29, 2026 (reported on Form 4 filed May 1, 2026). Filing appears timely.
Options exercised: 155,916 shares @ $10.62 ($1,655,828) and 9,416 shares @ $10.62 ($99,998) — total 165,332 shares acquired via exercise.
Shares withheld/surrendered for exercise/taxes: 95,760 shares @ $34.84 = $3,336,278 (code F).
Gift: 70,000 shares (code G).
Shares owned after transaction: Not stated as a simple share count; filing notes the post-transaction beneficial ownership equals Mr. Parker’s April 24, 2026 401(k) account balance divided by the April 24 closing price because the plan is unitized (see footnote F2).
Footnotes: F1 = shares held jointly with spouse; F2 = unitized 401(k) accounting for post-transaction ownership; F3 = 2-for-1 stock split effective Dec 31, 2024.
No indication of a 10b5-1 plan or a late filing in this report.

Context

This was an option exercise (M) followed by surrender/withholding of shares to cover exercise price/taxes (F), a common “cashless” or net-share settlement pattern for option exercises; such withholding does not necessarily indicate a market view.
The 70,000-share gift (G) is a non-sale transfer and typically reflects personal estate or tax planning rather than trading intent.
As a 10% owner, Mr. Parker is a large insider; these transactions reflect personal holdings and tax/settlement mechanics rather than ordinary open-market purchases or sales.

Form 4

Period: 2026-04-29

DirectorChairman and CEO10% Owner

Transactions

Gift
Class A Common Stock
[F1]
2026-04-29−70,000→ 1,977,544 total
Exercise/Conversion
Class A Common Stock
2026-04-29$10.62/sh+155,916$1,655,828→ 383,788 total
Exercise/Conversion
Class A Common Stock
2026-04-29$10.62/sh+9,416$99,998→ 393,204 total
Tax Payment
Class A Common Stock
2026-04-29$34.84/sh−95,760$3,336,278→ 297,444 total
Exercise/Conversion
Employee Stock Option (Right to Buy)
[F3]
2026-04-29−155,916→ 44,084 total
Exercise: $10.62From: 2022-04-06Exp: 2031-04-06→ Class A Common Stock (155,916 underlying)
Exercise/Conversion
Employee Stock Option (Right to Buy)
[F3]
2026-04-29−9,416→ 590,584 total
Exercise: $10.62From: 2024-02-28Exp: 2031-04-06→ Class A Common Stock (9,416 underlying)

Holdings

Footnotes (3)

[F1]Shares owned jointly by Mr. and Mrs. Parker, as joint tenants with rights of survivorship.
[F2]The number of shares beneficially owned following the reported transaction is equal to Mr. Parker's April 24, 2026 account balance in the employer stock fund under the issuer's 401(k) plan, divided by the closing price on April 24, 2026. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.
[F3]On December 31, 2024, the Issuer executed a two-for-one stock split with a record date of December 20, 2024, effected in the form of a stock dividend on each share of the Issuer's Class A common stock and Class B common stock.

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