| On April 30, 2019, the Board of Director (the “Board”) of Covenant Transportation Group, Inc. (the “Company”) promoted T. Ryan Rogers to Executive Vice President and Chief Transformation Officer of the Company, effective May 13, 2019. In his role as Executive Vice President and Chief Transformation Officer, Mr. Rogers will oversee our brokerage operations that are conducted through Covenant Transport Solutions, LLC, as well as technology, innovation, and mergers and acquisitions functions.Prior to his promotion, Mr. Rogers served as the Company’s Chief Transformation Officer since January 2018. Prior to joining the Company, Mr. Rogers worked as a Supply Chain & Transportation Executive at Amazon.com, Inc., an e-commerce company, in 2017 and as Chief Operating Officer of U.S. Xpress Logistics, a division of U.S. Xpress Enterprises, Inc., a freight transportation provider from 2012 to 2015. Mr. Rogers has also served as a Mentor at Dynamo Accelerator and Fund, a logistics, supply chain, and transportation accelerator program and early stage fund, since 2016, and as a Strategic Advisor for Trucker Path, a Silicon Valley-based transportation navigation technology company, since 2015. On April 30, 2019, in association with his promotion, the Compensation Committee of the Board approved the following compensation changes for Mr. Rogers, each effective May 13, 2019: · Increased annualized base salary to $270,000, from $255,000; · Increased target bonus under the Company’s 2019 cash bonus program (expressed as a percentage of year-end annualized base salary) to 50%, from 40%; and · Increased annualized car allowance to $12,000, from $9,000. |