Covenant Logistics CFO exercises options, pays taxes
Covenant Logistics Group EVP and CFO James S. Grant III reported stock option exercises and related tax withholding.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Covenant Logistics Group EVP and CFO James S. Grant III reported stock option exercises and related tax withholding. On May 28, 2026, he exercised employee stock options covering a total of 35,794 shares of Class A Common Stock at an exercise price of $7.885 per share. In a separate F-code transaction the same day, 10,430 shares were disposed of at $39.55 per share to satisfy tax obligations. Following these transactions, he directly owns 46,279 shares of Class A Common Stock.
Insider Trade Summary
35,794 shares exercised/converted
Exercise
5 txns
Insider
Grant James S III
Role
EVP and CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 18,030 | $0.00 | $0.00 |
| Exercise | Employee Stock Option (Right to Buy) | 17,764 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 18,030 | $7.885 | $142K |
| Exercise | Class A Common Stock | 17,764 | $7.885 | $140K |
| Exercise Price or Tax Liability | Class A Common Stock | 10,430 | $39.55 | $413K |
Holdings After Transaction:
Employee Stock Option (Right to Buy) — 36,322 contracts (Direct);
Class A Common Stock — 46,279 shares (Direct)
Footnotes (1)
- F1. On December 31, 2024, the Issuer executed a two-for-one stock split with a record date of December 20, 2024, effected in the form of a stock dividend on each share of the Issuer's Class A common stock and Class B common stock.
Key Figures
Options exercised: 35,794 shares
Tax-withholding shares: 10,430 shares
Exercise price: $7.885 per share
+2 more
5 metrics
Options exercised
35,794 shares
Total Class A Common Stock from M-code exercises on May 28, 2026
Tax-withholding shares
10,430 shares
F-code tax-withholding disposition at $39.55 per share
Exercise price
$7.885 per share
Employee stock option exercise price for underlying Class A shares
Post-transaction holdings
46,279 shares
Class A Common Stock directly owned after May 28, 2026 transactions
Option expiration date
2030-11-11
Expiration date for the exercised employee stock options
Key Terms
Employee Stock Option (Right to Buy), tax-withholding disposition, Exercise or conversion of derivative security, two-for-one stock split
4 terms
Employee Stock Option (Right to Buy) financial
"security_title shows "Employee Stock Option (Right to Buy)" for derivative entries."
tax-withholding disposition financial
"transaction_action for the F-code entry is "tax-withholding disposition"."
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Exercise or conversion of derivative security financial
"transaction_code_description for M-code entries states "Exercise or conversion of derivative security"."
two-for-one stock split financial
"a footnote describes a "two-for-one stock split" executed on December 31, 2024."
A two-for-one stock split doubles the number of a company's outstanding shares by giving shareholders two new shares for every one they own, while the total value of their holdings stays the same because the price per share is roughly halved. It matters to investors because it changes the share count and the per-share math used in valuations (like earnings per share) and can make individual shares more affordable and more liquid—like cutting each pizza slice in half so there are more, smaller slices but the same size pizza.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Covenant Logistics (CVLG) report on this Form 4?
The Form 4 reports that EVP and CFO James S. Grant III exercised employee stock options for 35,794 shares of Class A Common Stock and had 10,430 shares disposed of to cover tax obligations, all dated May 28, 2026, with resulting updated share ownership.
What prices applied to the Covenant Logistics (CVLG) CFO’s Form 4 transactions?
The employee stock options were exercised at an exercise price of $7.885 per share. Separately, 10,430 shares of Class A Common Stock were disposed of at $39.55 per share in an F-code transaction designated as payment of tax liability by delivering securities.
Were the Covenant Logistics (CVLG) CFO’s Form 4 transactions open-market sales?
The filing shows no open-market sales. The disposition of 10,430 shares is coded F and described as payment of exercise price or tax liability by delivering securities, indicating tax-withholding rather than a discretionary open-market sale of Covenant Logistics shares.
What happened to the Covenant Logistics (CVLG) employee stock options in this Form 4?
Two blocks of employee stock options, for 17,764 and 18,030 underlying shares at a $7.885 exercise price, were exercised on May 28, 2026. Derivative entries show totals following transaction of 36,322 and 0, indicating these specific option positions were fully exercised by that date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
