Covenant Logistics (CVLG) EVP Joey Ballard sells 8,000 company shares

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Covenant Logistics Group EVP Joey Ballard, the company’s Chief People & Safety Officer, reported two open-market sales of Class A common stock. He sold 4,282 shares at a weighted average price of about $37.40 on May 22 and 3,718 shares at $38.00 on May 26, totaling 8,000 shares. After these transactions, he directly holds 17,149 shares of Covenant Logistics Group common stock.

Insider Trade Summary 10b5-1

Net Seller: 8,000 shares ($301,449)

Net Sell 2 txns

Insider Ballard Joey

Role EVP, Chief People & Safety Off

Sold 8,000 shs ($301K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	3,718	$38.00	$141K
Sale	Class A Common Stock	4,282	$37.4043	$160K

Holdings After Transaction: Class A Common Stock — 17,149 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares sold: 8,000 shares Sale price 1: $38.00/share Weighted average price: $37.4043/share +1 more

4 metrics

Shares sold 8,000 shares Total Class A common stock sold across two open-market trades

Sale price 1 $38.00/share Price for 3,718 Class A common shares sold on May 26

Weighted average price $37.4043/share Weighted average sale price for 4,282 shares sold on May 22

Shares owned after 17,149 shares Direct Class A common stock holdings after the reported sales

Key Terms

open-market sale, Class A Common Stock, weighted average sale price, Form 4

4 terms

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Class A Common Stock financial

"security_title: 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.

weighted average sale price financial

"The price reflects a weighted average sale price for multiple transactions"

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

05/27/2026 - 06:45 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ballard Joey

(Last)

(First)

(Middle)

400 BIRMINGHAM HIGHWAY

(Street)

CHATTANOOGA

TENNESSEE

37419

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
COVENANT LOGISTICS GROUP, INC. [ CVLG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP, Chief People & Safety Off

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	05/22/2026		S		4,282	D	$37.4043⁽¹⁾	20,867	D
Class A Common Stock	05/26/2026		S		3,718	D	$38	17,149	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The price reflects a weighted average sale price for multiple transactions ranging from $37.05 to $38.00, 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.

Remarks:

The sale of shares reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2026.

	/s/ Joey Ballard, by Heidi Hornung-Scherr, attorney-in-fact, pursuant to a POA previously filed with the SEC	05/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Covenant Logistics (CVLG) report for Joey Ballard?

Covenant Logistics executive Joey Ballard reported selling 8,000 Class A common shares in two open-market transactions. These sales occurred on May 22 and May 26 and were disclosed in a Form 4 insider trading report filed with regulators.

How many Covenant Logistics (CVLG) shares does Joey Ballard hold after the sale?

After the reported sales, Joey Ballard directly holds 17,149 Covenant Logistics Class A common shares. This figure reflects his remaining direct ownership as shown in the Form 4, following the total disposition of 8,000 shares in recent open-market transactions.

At what prices did Joey Ballard sell Covenant Logistics (CVLG) stock?

Joey Ballard sold 4,282 shares at a weighted average price of about $37.4043 and 3,718 shares at $38.00 per share. The filing notes that some transactions ranged from $37.05 to $38.00, and detailed trade prices are available upon request.

What role does Joey Ballard hold at Covenant Logistics (CVLG)?

Joey Ballard serves as Executive Vice President and Chief People & Safety Officer at Covenant Logistics Group. His position makes him a reporting insider, so his trades in company stock must be disclosed publicly through Form 4 insider transaction filings.

Were Joey Ballard’s Covenant Logistics (CVLG) stock sales open-market transactions?

Yes. The Form 4 describes both transactions as open-market sales of Class A common stock. The sales used transaction code “S,” which the filing identifies as a sale in open market or private transactions, and includes a weighted average sale price disclosure.