Nevada
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000-24960
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88-0320154
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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400 Birmingham Hwy., Chattanooga, TN
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37419
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(Address of principal executive offices)
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(Zip Code)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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$$0.01 Par Value Class A common stock |
CVLG
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The NASDAQ Global Select Market |
Emerging growth company ☐
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
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On February 16, 2022, the Compensation Committee of the Board of Directors of Covenant Logistics Group, Inc., a Nevada corporation,
approved a short-term cash incentive plan for David R. Parker, Joey B. Hogan, M. Paul Bunn, and Samuel F. Hough (the “2022 Executive Bonus Program”). Under the 2022 Executive Bonus Program, the bonus targets, expressed as a
percentage of year-end annualized base salary, were the same as under the 2021 short-term cash incentive plans for Messrs. Parker and Hogan at 100% and Mr. Hough at 50%. Mr. Bunn’s bonus target was changed from 80% to 85% of
year-end annualized base salary in recognition of his recent performance and leadership. Under the 2022 Executive Bonus Program, participants are eligible to earn up to 150% of their bonus target upon the attainment of certain
adjusted earnings per share goals and up to 25% of their bonus target upon the attainment of a certain projects relating to business growth, safety, and division operating ratio.
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COVENANT LOGISTICS GROUP, INC.
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(Registrant)
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Date: February 22, 2022
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By:
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/s/ Joey B. Hogan
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Joey B. Hogan
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President
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