Covenant Logistics (CVLG) details 2026 executive bonus program terms

Rhea-AI Filing Summary

Covenant Logistics Group, Inc. disclosed a new short-term cash incentive plan for its named executive officers, called the 2026 Senior Executive Bonus Program, effective January 1, 2026. Bonus targets are set as a percentage of year-end annualized base salary: David R. Parker and M. Paul Bunn each at 100.0%, James S. Grant at 70.0%, and Dustin Koehl and Joey Ballard each at 60.0%.

Under this program, executives may earn up to 150% of their bonus target based on adjusted earnings per share goals and up to an additional 25% of their bonus target tied to certain strategic projects. This structure links a significant portion of senior leadership’s 2026 cash compensation to both financial performance and the completion of key strategic initiatives.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________________________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

December 16, 2025

___________________________________________________________________

COVENANT LOGISTICS GROUP, INC.

(Exact name of registrant as specified in its charter)

Nevada	001-42192	88-0320154
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer   Identification No.)

400 Birmingham Hwy., Chattanooga, TN	37419
(Address of principal executive offices)	(Zip Code)

(423) 821-1212

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
$0.01 Par Value Class A common stock	CVLG	The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

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.   [   ]

Item 5.02	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
	On December 16, 2025, the Compensation Committee of the Board of Directors of Covenant Logistics Group, Inc., a Nevada corporation (the “Company”), approved a short-term cash incentive plan, effective January 1, 2026, for the Company’s named executive officers (the “2026 Senior Executive Bonus Program”). Under the 2026 Senior Executive Bonus Program, the bonus targets, expressed as a percentage of year-end annualized base salary, are as follows:
	Named Executive Officer	Bonus Target
	David R. Parker	100.0%
	M. Paul Bunn	100.0%
	James S. Grant	70.0%
	Dustin Koehl	60.0%
	Joey Ballard	60.0%
	Under the 2026 Senior Executive Bonus Program, the Company’s named executive officers 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 certain strategic projects.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	COVENANT LOGISTICS GROUP, INC.
	(Registrant)
Date: December 22, 2025	By:	/s/ James S. Grant
		James S. Grant
		Executive Vice President and Chief Financial Officer

FAQ

What executive compensation change did Covenant Logistics Group (CVLG) announce?

Covenant Logistics Group approved a 2026 Senior Executive Bonus Program, a short-term cash incentive plan for its named executive officers effective January 1, 2026.

What are the 2026 bonus targets for CVLG’s named executive officers?

Bonus targets as a percentage of year-end annualized base salary are: David R. Parker 100.0%, M. Paul Bunn 100.0%, James S. Grant 70.0%, Dustin Koehl 60.0%, and Joey Ballard 60.0%.

How much can Covenant Logistics executives earn under the 2026 bonus program?

Under the 2026 Senior Executive Bonus Program, executives may earn up to 150% of their bonus target based on adjusted earnings per share goals and up to 25% of their bonus target for achieving certain strategic projects.

What performance measures determine CVLG’s 2026 executive bonuses?

Bonuses are tied to adjusted earnings per share goals and the completion of specified strategic projects under the 2026 Senior Executive Bonus Program.

When does the 2026 Senior Executive Bonus Program at Covenant Logistics become effective?

The 2026 Senior Executive Bonus Program becomes effective on January 1, 2026.

Which Covenant Logistics officer signed the report about the 2026 bonus program?

The report was signed by James S. Grant, Executive Vice President and Chief Financial Officer of Covenant Logistics Group, Inc.