Covenant Logistics president exercises 64,196 options
Covenant Logistics Group president Paul Bunn exercised employee stock options and settled taxes in shares.
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Form Type
4
Rhea-AI Filing Summary
Covenant Logistics Group president Paul Bunn exercised employee stock options and settled taxes in shares. On May 22, 2026, he exercised options covering 64,196 shares of Class A Common Stock at $7.885 per share. To cover tax obligations, 20,000 shares were disposed of at $37.41 per share, a tax-withholding transaction rather than an open-market sale. After these moves, he directly owns 198,893 shares, with additional indirect holdings of 41,401 shares in a 401(k) plan and 5,030 shares held by his spouse. A prior two-for-one stock split on December 31, 2024 is noted for context.
Insider Trade Summary
64,196 shares exercised/converted
Exercise
5 txns
Insider
BUNN PAUL
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 64,196 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 64,196 | $7.885 | $506K |
| Exercise Price or Tax Liability | Class A Common Stock | 20,000 | $37.41 | $748K |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (Right to Buy) — 296,380 contracts (Direct);
Class A Common Stock — 198,893 shares (Direct);
Class A Common Stock — 5,030 shares (Indirect, By Spouse);
Class A Common Stock — 41,401 shares (Indirect, 401(k))
Footnotes (2)
- F1. The number of shares beneficially owned following the reported transaction is equal to the Reporting Person's May 22, 2026 account balance in the employer stock fund under the issuer's 401(k) plan, divided by the closing price on May 22, 2026. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.
- F2. 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: 64,196 shares
Exercise price: $7.885 per share
Tax-withheld shares: 20,000 shares
+5 more
8 metrics
Options exercised
64,196 shares
Employee stock options exercised on May 22, 2026 at $7.885
Exercise price
$7.885 per share
Conversion or exercise price for 64,196 options
Tax-withheld shares
20,000 shares
Shares delivered for tax liability at $37.41 per share
Tax-withholding price
$37.41 per share
Value used for payment of exercise price or tax liability
Direct holdings after
198,893 shares
Class A Common Stock directly owned following transactions
401(k) indirect holdings
41,401 shares
Beneficially owned via employer stock fund as of May 22, 2026
Spouse’s indirect holdings
5,030 shares
Class A Common Stock held by spouse, reported as indirect ownership
Stock split ratio
Two-for-one
Stock split executed on December 31, 2024 via stock dividend
Key Terms
Employee Stock Option (Right to Buy), 401(k), two-for-one stock split, stock dividend, +1 more
5 terms
Employee Stock Option (Right to Buy) financial
"security_title: "Employee Stock Option (Right to Buy)""
401(k) financial
"employer stock fund under the issuer's 401(k) plan"
A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.
two-for-one stock split financial
"executed a two-for-one stock split with a record date of December 20, 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.
stock dividend financial
"effected in the form of a stock dividend on each share"
A stock dividend is when a company gives its existing shareholders extra shares instead of cash. It’s like receiving more pieces of the same pie rather than a bigger piece of money, which can increase the number of shares you own but usually doesn’t change the total value of your investment right away. Investors care about it because it can signal the company's growth and affect the stock’s price.
tax-withholding disposition financial
"transaction_action: "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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Covenant Logistics (CVLG) president Paul Bunn report in this Form 4?
Paul Bunn reported an option exercise and related tax-withholding share disposition. He exercised options for 64,196 Class A shares at $7.885 and had 20,000 shares withheld at $37.41 to satisfy tax obligations, updating his direct and indirect share holdings.
What stock split does the Covenant Logistics (CVLG) Form 4 reference?
The filing notes a two-for-one stock split executed on December 31, 2024. This split, effected as a stock dividend on each Class A and Class B share with a December 20, 2024 record date, doubled share counts while halving the per-share price mechanically.
AI-generated analysis. How Rhea-AI works. Not financial advice.
