Covenant Logistics director sells and gifts shares
Covenant Logistics Group director D. Michael Kramer reported several changes in his Class A Common Stock holdings.
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Form Type
4
Rhea-AI Filing Summary
Covenant Logistics Group director D. Michael Kramer reported several changes in his Class A Common Stock holdings. On April 29, he sold 2,650 shares in an open-market transaction at a weighted average price of $34.7204 per share, with individual prices ranging from $34.515 to $34.85. He also made a bona fide gift of 3,350 shares. After these transactions, he directly held 18,736 shares. Separately, 400 shares are held in a Uniform Transfers to Minors Act account, where he is custodian and disclaims beneficial ownership.
Insider Trade Summary
Net Seller: 2,650 shares
Net Sell
4 txns
Insider
KRAMER D MICHAEL
Role
Director
Sold
2,650 shs ($92K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 2,650 | $34.7204 | $92K |
| Gift | Class A Common Stock | 3,350 | $0.00 | $0.00 |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 18,736 shares (Direct);
Class A Common Stock — 800 shares (Indirect, As UTMA custodian)
Footnotes (2)
- F1. The price reflects a weighted average sale price for multiple transactions ranging from $34.515 to $34.85, inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a stockholder of the issuer, full information regarding the number of shares sold at each price.
- F2. The shares are held under a Uniform Transfers to Minors Act ("UTMA") account over which Mr. Kramer is the custodian. Mr. Kramer disclaims beneficial ownership of these shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.
Key Figures
Open-market sale: 2,650 shares
Weighted average sale price: $34.7204 per share
Gifted shares: 3,350 shares
+2 more
5 metrics
Open-market sale
2,650 shares
Class A Common Stock sold on April 29, 2026
Weighted average sale price
$34.7204 per share
Open-market sale with prices from $34.515 to $34.85
Gifted shares
3,350 shares
Bona fide gift of Class A Common Stock on April 29, 2026
Direct holdings after transactions
22,086 shares
Class A Common Stock directly held following reported transactions
UTMA custodial holdings
400 shares
Shares held in UTMA account; beneficial ownership disclaimed
Key Terms
bona fide gift, Uniform Transfers to Minors Act ("UTMA"), weighted average sale price, beneficial ownership
4 terms
bona fide gift financial
"The transaction_code "G" is described as a "Bona fide gift"."
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
Uniform Transfers to Minors Act ("UTMA") financial
"The shares are held under a Uniform Transfers to Minors Act ("UTMA") account over which Mr. Kramer is the custodian."
weighted average sale price financial
"The price reflects a weighted average sale price for multiple transactions ranging from $34.515 to $34.85, inclusive."
beneficial ownership financial
"Mr. Kramer disclaims beneficial ownership of these shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did D. Michael Kramer report for Covenant Logistics Group (CVLG)?
D. Michael Kramer reported an open-market sale of 2,650 Class A Common shares and a bona fide gift of 3,350 shares. These transactions changed his direct holdings but also reflected estate or personal planning activity rather than purely market-driven trading.
What does the UTMA custodial holding mean in the Covenant Logistics Group (CVLG) Form 4?
The filing states 400 shares are held in a Uniform Transfers to Minors Act account for a minor, with Mr. Kramer as custodian. He disclaims beneficial ownership of these shares, meaning they are reported for transparency but treated as belonging to the minor beneficiary.
Does the Covenant Logistics Group (CVLG) director’s Form 4 indicate any derivative securities or option exercises?
The Form 4 data show no derivative transactions or option exercises in this report. All disclosed activity involves non-derivative Class A Common Stock, including one open-market sale, one bona fide gift, and separate indirect custodial holdings.
AI-generated analysis. How Rhea-AI works. Not financial advice.
