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COVENANT LOGISTICS GROUP, INC. (CVLG) filed an 8-K current report with the SEC on May 15, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers), Item 5.07 (Submission of Matters to a Vote of Security Holders), Item 8.01 (Other Events). 2026 long-term incentive awards total $6.825M, linking executive compensation to Adjusted EPS, ROIC, and continued service through 2029.
COVENANT LOGISTICS GROUP, INC. 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- 2026 long-term incentive awards total $6.825M, linking executive compensation to Adjusted EPS, ROIC, and continued service through 2029
- Performance awards vest on 2028 goals, with payouts ranging from 50% to 200% of target
- Parker received his entire $2.984M award in cash, reducing equity dilution despite his significant stock ownership
- Grant, Koehl, and Ballard base salaries rise to $455,000, $455,000, and $400,000 effective July 6, 2026
- Expanded severance terms increase executive protections, including 24-month salary continuation and enhanced change-in-control benefits
Item 5.07 · Submission of Matters to a Vote of Security Holders
- All nine director nominees elected, with strongest support for Joey B. Hogan, Rachel Parker-Hatchett, and D. Michael Kramer
- Bradley A. Moline drew comparatively high opposition, with 8,027,285 withheld votes
- Executive compensation approved on advisory basis, with 25,600,194 votes for and 475,165 against
- Grant Thornton LLP ratified for fiscal 2026, with 27,132,335 votes for and 54,680 against
Item 8.01 · Other Events
- Quarterly cash dividend: $0.07 per Class A and Class B share
- Record date: June 5, 2026
- Expected payment date: June 26, 2026
- Continuation of the Board-approved quarterly dividend program, supporting shareholder income visibility
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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