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<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">UNITED STATES</div>

<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Washington, D.C. 20549</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><u>__________________________________________________________________</u></div>

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<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">FORM 8-K</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">CURRENT REPORT</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Date of Report (Date of earliest event reported):</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">November 3, 2017</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><u>__________________________________________________________________</u></div>

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<div>&#160;</div>

<div style="TEXT-ALIGN: center"><img style="HEIGHT: 100px; WIDTH: 237px" border="0" src="cgilogo2.jpg"></div>

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<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">CELADON GROUP, INC.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Exact name of registrant as specified in its charter)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">001-34533</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">13-3361050</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(State or other jurisdiction</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">of incorporation)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Commission</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">File Number)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(IRS Employer</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Identification No.)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">9503 East 33<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">rd</sup> Street</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">One Celadon Drive, Indianapolis, IN</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">46235</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Address of principal executive offices)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Zip Code)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(317) 972-7000</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Registrant&#8217;s telephone number, including area code)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 10pt">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule&#160;405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR&#160;240.12b-2).</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Emerging growth company</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">[&#160;&#160;&#160;]</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a) of the Exchange Act.</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 58.3pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">Item 5.02</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On November 3, 2017, Celadon Group, Inc., a Delaware corporation (the &#8220;Company&#8221;) <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">entered into an employment agreement (the </font>&#8220;Russell <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Employment Agreement</font>&#8221;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">) with Jonathan Russell in connection with Mr. Russell&#8217;s previous appointment as President and Chief Operating Officer of the Company.&#160; Under the Russell Employment Agreement, Mr. Russell will (i) have a base salary of $425,000; (ii) receive an equity grant, the terms of which are further described below; (iii) be eligible to participate in future equity grants under the Company&#8217;s long-term incentive program; (iv) be eligible to participate in the Company&#8217;s performance cash bonus program; (v) be entitled to severance pay, if the Company terminates his employment without &#8220;Cause&#8221; or he terminates his employment for &#8220;Good Reason&#8221; (in either case, not involving a &#8220;Change in Control&#8221;), equal to twelve months of salary continuation plus payment of premiums for COBRA continuation coverage for twelve months; (vi) be entitled to severance pay, if the Company terminates his employment without Cause or he terminates his employment for Good Reason, in either case, within six months prior to, or twelve months following, a Change in Control, equal to 150% of his annual base salary, 150% of the target amount of his annual cash bonus, the cost of premiums for COBRA continuation coverage for eighteen months, and accelerated vesting of equity awards to the extent so provided in the applicable award notices; and (vii) be subject to certain nonsolicitation, noncompetition, nondisparagement, and confidentiality covenants.&#160; The terms </font>&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Cause,</font>&#8221;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;</font>&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Good Reason,</font>&#8221;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> and </font>&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Change in Control</font>&#8221;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> are further defined in the Russell Employment Agreement.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The equity grants made to Mr. Russell are as follows:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: center"><u>Grant Type / Number of Shares</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 18pt">Restricted Stock &#8211; 125,000 shares</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Shares will be fully vested on January 2, 2018, provided that such shares will vest immediately if after the grant date but before January 2, 2018, (a) Mr. Russell is terminated by the Company without Cause, (b) Mr. Russell terminates his employment for Good Reason, or (c) Mr. Russell dies or is disabled. Shares are subject to a holding period that will lapse upon the earliest to occur of (i) the second anniversary of the grant date, (ii) termination of Mr. Russell by the Company without Cause, (iii) Mr. Russell terminating his employment for Good Reason, and (iv) Mr. Russell&#8217;s death or disability; provided, that Mr. Russell will be permitted to sell at his election a number of shares sufficient to satisfy any tax liability in respect of receipt of such vested shares.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 18pt">Restricted Stock &#8211; 125,000 shares</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Time vesting restricted stock, which will vest in three equal annual installments beginning on the first anniversary of the grant date, with all shares fully vesting on the third anniversary of the grant date; provided, that Mr. Russell will be permitted to sell at his election a number of shares sufficient to satisfy any tax liability in respect of receipt of such vested shares</font>.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The foregoing summary of the Russell Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Russell Employment Agreement, which will be filed with the Securities and Exchange Commission.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">SIGNATURE</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">CELADON GROUP, INC.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Date: <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">November 9, 2017</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">By:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">/s/ Thomas S. Albrecht</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Thomas S. Albrecht</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Chief Financial Officer</div>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 3, 2017
__________________________________________________________________
CELADON GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware
001-34533
13-3361050
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
9503 East 33
rd
Street
One Celadon Drive, Indianapolis, IN
46235
(Address of principal executive offices)
(Zip Code)
(317) 972-7000
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[   ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[   ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[   ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b-2).
[   ]
Emerging growth company
[   ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 3, 2017, Celadon Group, Inc., a Delaware corporation (the "Company")
entered into an employment agreement (the
"Russell
Employment Agreement
"
) with Jonathan Russell in connection with Mr. Russell's previous appointment as President and Chief Operating Officer of the Company.  Under the Russell Employment Agreement, Mr. Russell will (i) have a base salary of $425,000; (ii) receive an equity grant, the terms of which are further described below; (iii) be eligible to participate in future equity grants under the Company's long-term incentive program; (iv) be eligible to participate in the Company's performance cash bonus program; (v) be entitled to severance pay, if the Company terminates his employment without "Cause" or he terminates his employment for "Good Reason" (in either case, not involving a "Change in Control"), equal to twelve months of salary continuation plus payment of premiums for COBRA continuation coverage for twelve months; (vi) be entitled to severance pay, if the Company terminates his employment without Cause or he terminates his employment for Good Reason, in either case, within six months prior to, or twelve months following, a Change in Control, equal to 150% of his annual base salary, 150% of the target amount of his annual cash bonus, the cost of premiums for COBRA continuation coverage for eighteen months, and accelerated vesting of equity awards to the extent so provided in the applicable award notices; and (vii) be subject to certain nonsolicitation, noncompetition, nondisparagement, and confidentiality covenants.  The terms
"
Cause,
"
"
Good Reason,
"
and
"
Change in Control
"
are further defined in the Russell Employment Agreement.
The equity grants made to Mr. Russell are as follows:
Grant Type / Number of Shares
Vesting Criteria / Exercise Terms
Restricted Stock – 125,000 shares
Shares will be fully vested on January 2, 2018, provided that such shares will vest immediately if after the grant date but before January 2, 2018, (a) Mr. Russell is terminated by the Company without Cause, (b) Mr. Russell terminates his employment for Good Reason, or (c) Mr. Russell dies or is disabled. Shares are subject to a holding period that will lapse upon the earliest to occur of (i) the second anniversary of the grant date, (ii) termination of Mr. Russell by the Company without Cause, (iii) Mr. Russell terminating his employment for Good Reason, and (iv) Mr. Russell's death or disability; provided, that Mr. Russell will be permitted to sell at his election a number of shares sufficient to satisfy any tax liability in respect of receipt of such vested shares.
Restricted Stock – 125,000 shares
Time vesting restricted stock, which will vest in three equal annual installments beginning on the first anniversary of the grant date, with all shares fully vesting on the third anniversary of the grant date; provided, that Mr. Russell will be permitted to sell at his election a number of shares sufficient to satisfy any tax liability in respect of receipt of such vested shares
.
The foregoing summary of the Russell Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Russell Employment Agreement, which will be filed with the Securities and Exchange Commission.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CELADON GROUP, INC.
Date:
November 9, 2017
By:
/s/ Thomas S. Albrecht
Thomas S. Albrecht
Chief Financial Officer