BUNN PAUL 4

4 · COVENANT LOGISTICS GROUP, INC. · Filed Jul 6, 2026

AI-generated summary of this filing

Updated Jul 6, 2026

Covenant Logistics (CVLG) President Paul Bunn Vests RSUs, Shares Withheld

What Happened

Paul Bunn, President of Covenant Logistics Group (CVLG), had restricted stock units (RSUs) convert into shares on July 1, 2026. The filing reports exercise/conversion entries totaling 28,560 RSUs converted into shares. To satisfy tax withholding, 6,332 shares were withheld and disposed for cash at $44.83 per share, producing $140,139 and $143,725 (total ≈ $283,864).
This is a routine tax-withholding disposal tied to RSU vesting rather than an open-market sale or a directional purchase.

Key Details

Transaction date: July 1, 2026.
Conversion reported: total of 28,560 RSUs (sum of reported exercise/conversion entries).
Shares withheld for taxes: 6,332 shares sold at $44.83 per share for a total of $283,864 (reported as two disposals of 3,126 and 3,206 shares).
Net shares delivered: 28,560 − 6,332 = 22,228 shares (net issued to the reporting account).
Shares owned after transaction: not stated as a simple share count — the filing notes beneficial ownership is reported based on the reporting person’s 401(k) employer stock fund balance divided by the closing price (see footnote F3).
Footnotes of note:
- F1/F4/F5: These were previously granted RSUs under the issuer’s omnibus incentive plan that vest in installments (some vesting schedules began July 1, 2025 and July 1, 2026).
- F2: The disposed shares represent withholding to satisfy tax obligations upon RSU vesting.
Filing timeliness: filing date is July 6, 2026 for transactions dated July 1, 2026; the form does not indicate a tardiness designation in the disclosure.

Context

These entries reflect RSU vesting and tax-withholding mechanics (cashless/withholding sale), not a discretionary open-market sale indicating change in sentiment.
For retail investors: purchases or open-market buys by insiders are more directly indicative of bullish sentiment; routine withholding on vesting (like this) is standard and primarily administrative.

Form 4

Period: 2026-07-01

President

Transactions

Exercise/Conversion
Class A Common Stock
[F1]
2026-07-01+7,050→ 205,943 total
Tax Payment
Class A Common Stock
[F2]
2026-07-01$44.83/sh−3,126$140,139→ 202,817 total
Exercise/Conversion
Class A Common Stock
[F1]
2026-07-01+7,230→ 210,047 total
Tax Payment
Class A Common Stock
[F2]
2026-07-01$44.83/sh−3,206$143,725→ 206,841 total
Exercise/Conversion
Restricted Stock Units
[F1][F4]
2026-07-01−7,050→ 7,050 total
→ Class A Common Stock (7,050 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F5]
2026-07-01−7,230→ 14,460 total
→ Class A Common Stock (7,230 underlying)

Holdings

Footnotes (5)

[F1]Each restricted stock unit ("RSU") represents the previously granted contingent right to receive one share of Class A common stock.
[F2]Represents the number of shares deemed withheld to satisfy tax withholding obligations upon vesting of RSUs previously granted to the Reporting Person.
[F3]The number of shares beneficially owned following the reported transaction is equal to the Reporting Person's July 1, 2026 account balance in the employer stock fund under the issuer's 401(k) plan, divided by the closing price on July 1, 2026. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.
[F4]Represents RSUs previously granted under the Third Amended and Restated 2006 Omnibus Incentive Plan, as amended. The RSUs vest in three equal annual installments beginning July 1, 2025, subject to certain vesting, forfeiture, and termination provisions.
[F5]Represents RSUs previously granted under the Third Amended and Restated 2006 Omnibus Incentive Plan, as amended. The RSUs vest in three equal annual installments beginning July 1, 2026, subject to certain vesting, forfeiture, and termination provisions.

Signature

/s/ Paul Bunn, by Heidi Hornung-Scherr, attorney-in-fact, pursuant to a POA previously filed with the SEC|2026-07-06

1 file