Welborn Wesley Miller 4

What Happened

• Welborn Wesley Miller, a director of Covenant Logistics Group, was granted 4,382 restricted stock units (RSUs) on 2026-05-13. The Form 4 reports the transaction as an award (code A) at $0.00 per share because this is a compensation grant, not an open-market trade. A footnote states the award represents annual equity compensation equal to $140,000 divided by the closing price on the date of the 2026 annual meeting.

Key Details

• Transaction date: 2026-05-13; Form 4 filed: 2026-05-15 (filed within the usual two-business-day window).
• Reported amount: 4,382 RSUs; reported price: $0.00 (grant).
• Reported value per footnote: award equals $140,000 total, allocated by share price at grant date.
• Shares owned after transaction: not specified in the Form 4 provided.
• Plan/terms: Award granted under the Third Amended and Restated 2006 Omnibus Incentive Plan; subject to vesting, forfeiture, and termination provisions.

Context

• This was a routine equity compensation grant to a director, not a purchase or sale. RSUs are typically compensation that vests over time and are taxed when they vest (or when shares are delivered, per plan rules). Such awards reflect pay practices, not necessarily immediate insider sentiment about the stock.