BUNN PAUL 4

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.