Covenant Logistics (NYSE: CVLG) CEO plans ~$15M stock disposal
Rhea-AI Filing Summary
Covenant Logistics Group, Inc. disclosed that Chairman and CEO David Parker and his wife Jacqueline plan to dispose of Class A common stock with a value of approximately $15 million at recent trading prices. This amount represents about 5% of the value of Company common stock held by them and related entities.
The planned dispositions are expected to occur through open market sales and charitable gift transactions. The Parkers have informed the Company that they have not adopted a Rule 10b5-1 trading plan in connection with these intended transactions.
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Insights
CEO and spouse plan to sell about $15M of shares, equal to roughly 5% of their holdings.
The disclosure states that David Parker, Chairman and CEO of Covenant Logistics Group, and his wife intend to dispose of Class A common stock valued at approximately $15 million, representing about 5% of the value of Company common stock held by them and related entities.
The transactions are expected to occur via open market sales and charitable gifts, and the Parkers have not adopted a Rule 10b5-1 plan for these activities. The filing does not describe any change in company operations or strategy; it focuses solely on planned personal share dispositions.
Future company filings may provide additional detail on completed sales or gifts, including actual amounts and timing relative to this stated intention.
8-K Event Classification
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(State or other jurisdiction
of incorporation)
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(Commission
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(IRS Employer
Identification No.)
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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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Securities registered pursuant to Section 12(b) of the Act:
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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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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).
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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 8.01
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Other Events.
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David Parker, the Chairman and CEO of Covenant Logistics Group, Inc. (the "Company"), and his wife Jacqueline Parker,
have informed the Company that they intend to dispose of shares of the Company’s Class A common stock with a value of approximately $15 million at recent trading prices, representing approximately 5% of the value of the Company common stock
held by them and related entities, in open market and charitable gift transactions. The Parkers have not adopted a Rule 10b5-1 plan.
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COVENANT LOGISTICS GROUP, INC.
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(Registrant)
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Date: February 9, 2026
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By:
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/s/ James S. Grant
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James S. Grant
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Executive Vice President and Chief Financial Officer
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