---
title: "Covenant Logistics Group updates executive compensation and severance for named officers"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286619285.md"
description: "Covenant Logistics Group has updated executive compensation for its named officers, approving 2026 long-term incentive awards and new base salaries effective July 6, 2026. Changes include cash awards due to significant stock holdings and amended severance arrangements for several executives. The total cash award amounts to $2,984,000, with individual target awards ranging from $481,000 to $1,873,000."
datetime: "2026-05-15T21:33:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286619285.md)
  - [en](https://longbridge.com/en/news/286619285.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286619285.md)
---

# Covenant Logistics Group updates executive compensation and severance for named officers

**Covenant Logistics Group approved 2026 long-term incentive awards, new base salaries effective July 6, 2026, and amended severance arrangements for named executive officers.**

Individual

David R. Parker

M. Paul Bunn

James “Tripp” Grant

Dustin Koehl

Joey Ballard

Role

Named Executive Officer

Named Executive Officer

Named Executive Officer

Named Executive Officer

Named Executive Officer

Type of Change

Long-term incentive award (cash)

Long-term incentive award

Long-term incentive award; salary change; severance amended

Long-term incentive award; salary change; severance amended

Long-term incentive award; salary change; severance amended

Effective Date

2026 (award approved May 13, 2026)

2026 (award approved May 13, 2026)

2026 (award approved May 13, 2026); salary effective July 6, 2026

2026 (award approved May 13, 2026); salary effective July 6, 2026

2026 (award approved May 13, 2026); salary effective July 6, 2026

Reason

Committee awarded full cash given significant stock holdings

Committee approved target award under 2026 LTIP

Committee approved target award under 2026 LTIP; severance terms aligned with peer officers

Committee approved target award under 2026 LTIP; severance amended to remove 50% reduction

Committee approved target award under 2026 LTIP; severance terms aligned with peer officers

Replacement Info

Not disclosed

Not disclosed

Not disclosed

Not disclosed

Not disclosed

Background Details

Entire award issued in cash due to significant stock holdings (amount $2,984,000)

Target award $1,873,000

Target award $792,000; new base salary $455,000

Target award $695,000; new base salary $455,000; severance 50% reduction removed

Target award $481,000; new base salary $400,000

Board/Committee Role Changes

Not disclosed

Not disclosed

Not disclosed

Not disclosed

Not disclosed

Original SEC Filing: COVENANT LOGISTICS GROUP, INC. \[ CVLG \] - 8-K - May. 15, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

### Related Stocks

- [CVLG.US](https://longbridge.com/en/quote/CVLG.US.md)

## Related News & Research

- [Covenant Logistics: Seidl Reaffirms Buy Rating and Maintains $43 Price Target Amid Improving Fundamentals](https://longbridge.com/en/news/294414258.md)
- [Emerson Electric announces Q3 2026 distribution of R$ 1.92 per unit](https://longbridge.com/en/news/295004574.md)
- [Mobilezone schedules investor video conference on H1 2026 results](https://longbridge.com/en/news/294935560.md)
- [Chimera declares Q3 2026 Series A preferred dividend of $0.5 a share](https://longbridge.com/en/news/294951609.md)
- [JPMorgan Chase declares Q2 2026 dividend of R$ 0.51 per unit](https://longbridge.com/en/news/294730517.md)