CVLG EVP exercises RSUs, covers taxes with shares
Covenant Logistics Group executive Joey Ballard reported routine equity compensation activity.
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Form Type
4
Rhea-AI Filing Summary
Covenant Logistics Group executive Joey Ballard reported routine equity compensation activity. On July 1, 2026, Ballard exercised previously granted restricted stock units that converted into a total of 5,006 shares of Class A common stock.
To cover associated tax obligations upon RSU vesting, a total of 1,970 shares of Class A common stock were withheld at $44.83 per share, classified as tax-withholding dispositions rather than market sales. Following these transactions, the filing shows Ballard directly holding 16,185 shares of Class A common stock.
Insider Trade Summary
5,006 shares exercised/converted
Exercise
6 txns
Insider
Ballard Joey
Role
EVP, Chief People & Safety Off
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,114 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 2,892 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 2,114 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 832 | $44.83 | $37K |
| Exercise | Class A Common Stock | 2,892 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 1,138 | $44.83 | $51K |
Holdings After Transaction:
Restricted Stock Units — 7,898 contracts (Direct);
Class A Common Stock — 16,185 shares (Direct)
Footnotes (4)
- F1. Each restricted stock unit ("RSU") represents the previously granted contingent right to receive one share of Class A common stock.
- F2. Represents the number of shares deemed withheld to satisfy tax withholding obligations upon vesting of RSUs previously granted to the Reporting Person.
- F3. 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.
- F4. 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
RSU shares converted: 5,006 shares
Shares withheld for taxes: 1,970 shares
Tax withholding price: $44.83 per share
+3 more
6 metrics
RSU shares converted
5,006 shares
Class A common stock from RSU vesting on July 1, 2026
Shares withheld for taxes
1,970 shares
Tax withholding on RSU vesting at $44.83 per share
Tax withholding price
$44.83 per share
Value used for tax-withholding dispositions of common stock
Post-transaction holdings
16,185 shares
Direct Class A common stock held by Joey Ballard after transactions
RSU tranche 1 converted
2,892 units
Restricted Stock Units converting into Class A shares
RSU tranche 2 converted
2,114 units
Restricted Stock Units converting into Class A shares
Key Terms
Restricted Stock Units, tax withholding obligations, Third Amended and Restated 2006 Omnibus Incentive Plan, derivative exercise/conversion, +1 more
5 terms
Restricted Stock Units financial
"security_title": "Restricted Stock Units""
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
"deemed withheld to satisfy tax withholding obligations upon vesting of RSUs"
Third Amended and Restated 2006 Omnibus Incentive Plan financial
"RSUs previously granted under the Third Amended and Restated 2006 Omnibus Incentive Plan"
derivative exercise/conversion financial
"transaction_action": "derivative exercise/conversion""
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did CVLG executive Joey Ballard report?
Joey Ballard reported RSU-related transactions converting awards into 5,006 shares of Covenant Logistics Class A common stock. Part of these shares was withheld to cover tax obligations, and the remaining shares increased his direct equity stake.
Were Joey Ballard’s CVLG transactions open-market stock sales?
No, the dispositions were classified as tax-withholding transactions at $44.83 per share, used to satisfy tax obligations on vested RSUs. The filing does not show any open-market sales or purchases of Covenant Logistics common stock.
What type of awards did CVLG grant to Joey Ballard in this filing?
The filing involves Restricted Stock Units (RSUs) previously granted under the company’s Third Amended and Restated 2006 Omnibus Incentive Plan. These RSUs convert into shares of Class A common stock upon vesting according to their installment schedules.
AI-generated analysis. How Rhea-AI works. Not financial advice.
