Covenant Logistics (CVLG) Form 4 COVENANT LOGISTICS / JOHN A TWEED ownership change

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

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

1. Name and Address of Reporting Person^*

TWEED JOHN A

(Last) (First) (Middle)

400 BIRMINGHAM HIGHWAY

(Street)

CHATTANOOGA TN 37419

(City) (State) (Zip)

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)
Co-President and COO

3. Date of Earliest Transaction (Month/Day/Year)
10/29/2020

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/29/2020		P		54,768	A	$14.1907(1)	253,175	D
Class A Common Stock	10/29/2020		P		18,000	A	$14.2584(2)	18,000	I	IRA
Class A Common Stock	10/29/2020		I		18,846(3)	A	$14.18(3)	18,846(4)	I	401(k)
Class A Common Stock	10/30/2020		P		5,000	A	$13.4977(5)	258,175	D
Class A Common Stock	10/30/2020		P		19,920	A	$13.7564(6)	37,920	I	IRA
Class A Common Stock	10/30/2020		I		19,411(7)	A	$13.77(7)	38,347(8)	I	401(k)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reflects a weighted average purchase price for multiple transactions ranging from $13.68 to $14.50, 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 purchased at each separate price.

2. The price reflects a weighted average purchase price for multiple transactions ranging from $13.91 to $14.55, 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 purchased at each separate price.

3. The price and share reflect the intra-plan transfer of $267,242.80 into the employer stock fund under the issuer's 401(k) plan, divided by the closing price on the date of the transaction. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.

4. The number of shares beneficially owned following the reported transaction is equal to the reporting person's October 29, 2020, account balance in the employer stock fund under the issuer's 401(k) plan, divided by the closing price on October 29, 2020. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.

5. The price reflects a weighted average purchase price for multiple transactions ranging from $13.28 to $13.745, 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 purchased at each separate price.

6. The price reflects a weighted average purchase price for multiple transactions ranging from $13.23 to $13.96, 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 purchased at each separate price.

7. The price and share reflect the intra-plan transfer of $267,289.15 into the employer stock fund under the issuer's 401(k) plan, divided by the closing price on the date of the transaction. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.

8. The number of shares beneficially owned following the reported transaction is equal to the reporting person's October 30, 2020, account balance in the employer stock fund under the issuer's 401(k) plan, divided by the closing price on October 30, 2020. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.

	/s/ John A. Tweed, by Heidi Hornung-Scherr, attorney-in-fact, pursuant to a POA previously filed with the SEC	11/02/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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