Covenant Logistics (CVLG) CFO vests RSUs and covers tax with shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
COVENANT LOGISTICS GROUP, INC. executive Grant James S III, the EVP and CFO, reported routine equity compensation activity. On July 1, 2026, he exercised previously granted restricted stock units into a total of 7,139 shares of Class A common stock. To cover related tax obligations at $44.83 per share, the filing shows 2,810 shares deemed withheld by the company rather than sold in the open market. These transactions increase his direct stock ownership through compensation while using share withholding instead of cash to satisfy taxes.
Positive
- None.
Negative
- None.
Insider Trade Summary
7,139 shares exercised/converted
Mixed
6 txns
Insider
Grant James S III
Role
EVP and CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 3,524 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,615 | $0.00 | -- |
| Exercise | Class A Common Stock | 3,524 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 1,387 | $44.83 | $62K |
| Exercise | Class A Common Stock | 3,615 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 1,423 | $44.83 | $64K |
Holdings After Transaction:
Restricted Stock Units — 3,526 shares (Direct);
Class A Common Stock — 49,803 shares (Direct)
Footnotes (1)
- Each restricted stock unit ("RSU") represents the previously granted contingent right to receive one share of Class A common stock. Represents the number of shares deemed withheld to satisfy tax withholding obligations upon vesting of RSUs previously granted to the Reporting Person. 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. 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.
Key Figures
RSUs exercised: 7,139 shares
Shares withheld for taxes: 2,810 shares
Withholding price: $44.83 per share
+2 more
5 metrics
RSUs exercised
7,139 shares
Restricted stock units converted to Class A common stock on July 1, 2026
Shares withheld for taxes
2,810 shares
Deemed withheld to satisfy tax obligations on RSU vesting
Withholding price
$44.83 per share
Value used for shares deemed withheld to cover tax liability
Derivative exercises
2 transactions, 7,139 shares
Exercise or conversion of derivative securities (RSUs) on July 1, 2026
Tax-withholding dispositions
2 transactions, 2,810 shares
Payment of tax liability by delivering securities instead of cash
Key Terms
Restricted Stock Units, tax withholding obligations, Third Amended and Restated 2006 Omnibus Incentive Plan, Class A Common Stock
4 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents the previously granted contingent right to receive one share of Class A common stock."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"Represents the number of shares deemed withheld to satisfy tax withholding obligations upon vesting of RSUs previously granted to the Reporting Person."
Third Amended and Restated 2006 Omnibus Incentive Plan financial
"Represents RSUs previously granted under the Third Amended and Restated 2006 Omnibus Incentive Plan, as amended."
Class A Common Stock financial
"Each restricted stock unit ("RSU") represents the previously granted contingent right to receive one share of Class A common stock."
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
FAQ
What insider transactions did CVLG EVP and CFO Grant James S III report?
The CVLG EVP and CFO reported exercising restricted stock units into 7,139 shares of Class A common stock. The filing also shows 2,810 shares deemed withheld to satisfy tax obligations tied to those vesting awards, with no open-market share sales disclosed.
How many Covenant Logistics RSUs vested for the CFO on July 1, 2026?
On July 1, 2026, restricted stock units previously granted to the Covenant Logistics CFO converted into 7,139 shares of Class A common stock. These RSUs were granted under the company’s omnibus incentive plan and vest in scheduled annual installments subject to standard vesting conditions.
What incentive plan governs the CVLG CFO’s restricted stock units?
The CFO’s restricted stock units were granted under Covenant Logistics’ Third Amended and Restated 2006 Omnibus Incentive Plan. Footnotes state these RSUs vest in three equal annual installments beginning on July 1, 2025 and July 1, 2026, subject to vesting and forfeiture provisions.
Are there remaining unvested CVLG RSUs for the CFO after these transactions?
Yes. Footnotes indicate that additional RSUs remain outstanding under the omnibus incentive plan, vesting in three equal annual installments beginning July 1, 2025 and July 1, 2026. These future vesting tranches are still subject to vesting, forfeiture and termination conditions.