<html>
  <head>
    <title></title>
    <!-- Licensed to: Scudder Law Firm
         Document created using EDGARfilings PROfile 6.5.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"><br>
  <div>
    <div>
      <div style="text-align: center; font-size: 18pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; font-size: 18pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; font-size: 12pt;">Washington, D.C.&#160;20549</div>
      <div style="text-align: center; font-weight: bold;">_____________________________________________________________________________</div>
      <div><br>
      </div>
      <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 8-K</div>
      <div><br>
      </div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">CURRENT REPORT</div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</div>
      <div><br>
      </div>
      <div style="text-align: center; font-size: 12pt;">Date of Report (Date of earliest event reported):</div>
      <div style="text-align: center; font-size: 12pt;">April 24, 2020</div>
      <div style="text-align: center; font-weight: bold;">_______________________________________________________________________________</div>
      <div style="text-align: center;"><img src="cvtilogo.jpg"></div>
      <div style="text-align: center; font-size: 18pt; font-weight: bold;">COVENANT TRANSPORTATION GROUP, INC.</div>
      <div style="text-align: center;">(Exact name of registrant as specified in its charter)</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 35.67%; vertical-align: bottom;">
              <div style="text-align: center;">Nevada</div>
            </td>
            <td style="width: 28.66%; vertical-align: bottom;">
              <div style="text-align: center;">000-24960</div>
            </td>
            <td style="width: 35.67%; vertical-align: bottom;">
              <div style="text-align: center;">88-0320154</div>
            </td>
          </tr>
          <tr>
            <td style="width: 35.67%; vertical-align: bottom;">
              <div style="text-align: center;">(State or other jurisdiction</div>
              <div style="text-align: center;">of incorporation)</div>
            </td>
            <td style="width: 28.66%; vertical-align: bottom;">
              <div style="text-align: center;">(Commission</div>
              <div style="text-align: center;">File Number)</div>
            </td>
            <td style="width: 35.67%; vertical-align: bottom;">
              <div style="text-align: center;">(IRS Employer</div>
              <div style="text-align: center;">&#160;&#160;Identification No.)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 51.9%; vertical-align: bottom;">
              <div style="text-align: center;">400 Birmingham Hwy., Chattanooga, TN</div>
            </td>
            <td style="width: 48.1%; vertical-align: bottom;">
              <div style="text-align: center;">37419</div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.9%; vertical-align: bottom;">
              <div style="text-align: center;">(Address of principal executive offices)</div>
            </td>
            <td style="width: 48.1%; vertical-align: bottom;">
              <div style="text-align: center;">(Zip Code)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: center; line-height: 1.00;">(423) 821-1212</div>
      <div style="text-align: center; line-height: 1.00;">(Registrant's telephone number, including area code)</div>
      <div style="line-height: 1.00;"><br style="line-height: 1.00;">
      </div>
      <div style="line-height: 1.00;">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>
      <div style="line-height: 1.00;">
        <div style="line-height: 1.00;">
          <div style="line-height: 1.00;"> <br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse">

                <tr>
                  <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: center; line-height: 1;">[&#160;&#160;&#160;]</div>
                  </td>
                  <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
                  </td>
                </tr>
                <tr>
                  <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">&#160;</div>
                  </td>
                  <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">&#160;</div>
                  </td>
                </tr>
                <tr>
                  <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: center; line-height: 1;">[&#160;&#160;&#160;]</div>
                  </td>
                  <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
                  </td>
                </tr>
                <tr>
                  <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">&#160;</div>
                  </td>
                  <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">&#160;</div>
                  </td>
                </tr>
                <tr>
                  <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: center; line-height: 1;">[&#160;&#160;&#160;]</div>
                  </td>
                  <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
                  </td>
                </tr>
                <tr>
                  <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">&#160;</div>
                  </td>
                  <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">&#160;</div>
                  </td>
                </tr>
                <tr>
                  <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: center; line-height: 1;">[&#160;&#160;&#160;]</div>
                  </td>
                  <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
                  </td>
                </tr>

            </table>
          </div>
          <div>&#160;</div>
          <div>
            <div>Securities registered pursuant to Section 12(b) of the Act:</div>
            <div>&#160;</div>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%">

                  <tr style="HEIGHT: 13px">
                    <td style="BORDER-TOP: #000000 1px solid; WIDTH: 33.33%; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">
                      <div style="TEXT-ALIGN: center">Title of each class</div>
                    </td>
                    <td style="BORDER-TOP: #000000 1px solid; WIDTH: 33.33%; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">Trading Symbol(s)</td>
                    <td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 33.33%; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">Name of each exchange on which registered</td>
                  </tr>
                  <tr>
                    <td style="WIDTH: 33.33%; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">$0.01 Par Value Class A common stock</td>
                    <td style="WIDTH: 33.33%; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">CVTI</td>
                    <td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 33.33%; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">The NASDAQ Global Select Market</td>
                  </tr>

              </table>
            </div>
            <div>&#160;</div>
            <div>Indicate by check mark whether that registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>
            <div>
              <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse">

                  <tr>
                    <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">&#160;</td>
                    <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">&#160;</td>
                  </tr>
                  <tr style="HEIGHT: 13px">
                    <td style="WIDTH: 10.32%; VERTICAL-ALIGN: top">&#160;</td>
                    <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">
                      <div style="text-align: right; line-height: 1; text-indent: 332.8pt;">Emerging growth company&#160; [&#160;&#160;&#160;]</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">&#160;</td>
                    <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">&#160;</td>
                  </tr>
                  <tr>
                    <td style="WIDTH: 100%; VERTICAL-ALIGN: top" colspan="2">
                      <div style="text-align: justify; line-height: 1;">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.&#160;&#160; [&#160;&#160;&#160;]</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
        <div style="line-height: 1.00;">&#160;</div>
        <div style="line-height: 1.00;"> <br>
        </div>
        <div style="line-height: 1.00;"> <br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <!--PROfilePageNumberReset%Num%1%%%-->
        <div> <br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za82e579a83ce465c93094f3012a71419">

              <tr>
                <td style="width: 13.21%; vertical-align: top;">
                  <div style="text-align: justify; line-height: 1.00; font-weight: bold;">Item 5.02</div>
                </td>
                <td style="width: 86.79%; vertical-align: top;">
                  <div style="text-align: justify; line-height: 1.00; font-weight: bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</div>
                </td>
              </tr>
              <tr>
                <td rowspan="1" style="width: 13.21%; vertical-align: top;">&#160;</td>
                <td rowspan="1" style="width: 86.79%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td rowspan="1" style="width: 13.21%; vertical-align: top;">&#160;</td>
                <td rowspan="1" style="width: 86.79%; vertical-align: top; text-align: justify;">On April 24, 2020, the Board of Directors (the &#8220;Board&#8221;) of Covenant Transportation Group, Inc. (the &#8220;Company&#8221;) appointed certain of the Company&#8217; executives to
                  new positions as follows (the &#8220;Appointments&#8221;):</td>
              </tr>

          </table>
          <br>
          <div style="text-align: justify; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00;"> <br style="line-height: 1.00;">
          </div>
          <table cellspacing="0" cellpadding="0" border="0" align="center" style="border-collapse: collapse; width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="ze7909be27c4a43bf9348033782967374">

              <tr>
                <td style="width: 30.21%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;"><u>Name</u></div>
                </td>
                <td style="width: 45%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;"><u>New Title</u></div>
                </td>
              </tr>
              <tr>
                <td style="width: 30.21%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">John A. Tweed</div>
                </td>
                <td style="width: 45%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">Co-President and Chief Operating Officer</div>
                </td>
              </tr>
              <tr>
                <td style="width: 30.21%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">Joey B. Hogan</div>
                </td>
                <td style="width: 45%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">Co-President and Chief Administrative Officer</div>
                </td>
              </tr>
              <tr>
                <td style="width: 30.21%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">M. Paul Bunn</div>
                </td>
                <td style="width: 45%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">Executive Vice President, Chief Financial Officer, and Secretary</div>
                </td>
              </tr>
              <tr>
                <td style="width: 30.21%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">Richard B. Cribbs</div>
                </td>
                <td style="width: 45%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">Senior Vice President and Treasurer</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.00;"><br style="line-height: 1.00;">
          </div>
          <div style="line-height: 1.00;">
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

                <tr>
                  <td rowspan="1" style="width: 13.21%; vertical-align: top;">&#160;</td>
                  <td rowspan="1" style="width: 86.79%; vertical-align: top; text-align: justify;">On April 24, 2020, in connection with the Appointments, the Compensation Committee approved the annualized base salaries set forth in the table below. For
                    Messrs. Tweed, Hogan, and Bunn, the salaries, as reduced in light of the uncertain impact of COVID-19 on the Company&#8217;s operations, were effective April 26, 2020. For Mr. Cribbs, the salary, as reduced for the impact of COVID-19, will be
                    effective July 1, 2020. The higher salaries set forth in the table below will be effective when the Compensation Committee eliminates the salary reductions for the impact of COVID-19; provided that if the COVID-19 reductions are
                    eliminated prior to July 1, 2020, then Mr. Cribbs&#8217; annualized base salary will be $335,000 at such time until being reduced to $292,500 effective July 1, 2020.</td>
                </tr>

            </table>
          </div>
          <div style="line-height: 1.00;"><br style="line-height: 1.00;">
          </div>
          <div style="line-height: 1.00;"><br style="line-height: 1.00;">
          </div>
          <table cellspacing="0" cellpadding="0" border="0" align="center" style="border-collapse: collapse; width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="zeb5c84158fb7402eabd0df6fa7a5a19c">

              <tr>
                <td style="width: 29.29%; vertical-align: bottom;">
                  <div style="margin-right: 4.5pt; line-height: 1.00; font-weight: bold;"><u>Name</u></div>
                </td>
                <td style="width: 35.35%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00; font-weight: bold;">COVID-19 Reduced </div>
                  <div style="text-align: center; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00; font-weight: bold;"><u>Annualized Base Salary</u></div>
                </td>
                <td style="width: 35.35%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00; font-weight: bold;"><u>Annualized Base Salary</u></div>
                </td>
              </tr>
              <tr>
                <td style="width: 29.29%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">John A. Tweed</div>
                </td>
                <td style="width: 35.35%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00;">$403,750</div>
                </td>
                <td style="width: 35.35%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00;">$500,000</div>
                </td>
              </tr>
              <tr>
                <td style="width: 29.29%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">Joey B. Hogan</div>
                </td>
                <td style="width: 35.35%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00;">$403,750</div>
                </td>
                <td style="width: 35.35%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00;">$500,000</div>
                </td>
              </tr>
              <tr>
                <td style="width: 29.29%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">M. Paul Bunn</div>
                </td>
                <td style="width: 35.35%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00;">$292,500</div>
                </td>
                <td style="width: 35.35%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00;">$325,000</div>
                </td>
              </tr>
              <tr>
                <td style="width: 29.29%; vertical-align: top;">
                  <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.00;">Richard B. Cribbs</div>
                </td>
                <td style="width: 35.35%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00;">$277,875</div>
                </td>
                <td style="width: 35.35%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; margin-left: 13.5pt; line-height: 1.00;">$292,500</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.00;"><br style="line-height: 1.00;">
          </div>
          <div style="line-height: 1.00;">
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

                <tr>
                  <td rowspan="1" style="width: 13.21%; vertical-align: top;">&#160;</td>
                  <td rowspan="1" style="width: 86.79%; vertical-align: top; text-align: justify;">
                    <div style="margin-right: 4.5pt; line-height: 1; font-family: 'Times New Roman',Times,serif;">Mr. Tweed will also receive reimbursement of up to $100,000 annually for out-of-pocket housing and travel costs related to travel between
                      Greenville, Tennessee where Landair is headquartered and the Company&#8217;s headquarters in Chattanooga, Tennessee where Mr. Tweed will manage additional business units and have additional housing.</div>
                    <div style="line-height: 1.00;"><br style="line-height: 1.00;">
                    </div>
                    <div style="margin-right: 4.5pt; line-height: 1; font-family: 'Times New Roman',Times,serif;">On such date, the Compensation Committee also approved severance agreements (each a &#8220;Severance Agreement&#8221;) for certain of the Company&#8217;s
                      executive officers, including the Company&#8217;s Named Executive Officers. Upon a qualifying severance event, subject to employment, release, and other customary provisions, including a non-compete through 12 months post-termination, the
                      Severance Agreements provide for the following benefits:</div>
                  </td>
                </tr>

            </table>
          </div>
          <br>
          <div style="line-height: 1.00;"><br style="line-height: 1.00;">
          </div>
          <table cellspacing="0" cellpadding="0" border="0" align="center" style="border-collapse: collapse; width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z62ab1df27cb4470484808ec7b564920c">

              <tr>
                <td style="width: 30%; vertical-align: bottom;">
                  <div style="margin-right: 4.5pt; line-height: 1; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Title</u></div>
                </td>
                <td style="width: 13.95%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;">Salary </div>
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;"><u>Continuation</u></div>
                </td>
                <td style="width: 53.25%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;"><u>Management Incentive Cash Bonus</u></div>
                </td>
                <td style="width: 15.85%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;">COBRA </div>
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;"><u>Reimbursement</u></div>
                </td>
              </tr>
              <tr>
                <td style="width: 30%; vertical-align: top;">
                  <div style="margin-right: 4.5pt; line-height: 1.00;">Chief Executive Officer &amp; Co-Presidents<br>
                  </div>
                </td>
                <td style="width: 13.95%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">24 Months</div>
                </td>
                <td style="width: 53.25%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1; font-family: 'Times New Roman',Times,serif;">If earned at or above minimum, then the target bonus for the year of termination, prorated for partial year of service</div>
                </td>
                <td style="width: 15.85%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">24 Months</div>
                </td>
              </tr>
              <tr>
                <td style="width: 30%; vertical-align: top;">
                  <div style="margin-right: 4.5pt; line-height: 1.00;">Executive Vice Presidents<br>
                  </div>
                </td>
                <td style="width: 13.95%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">18 Months</div>
                </td>
                <td style="width: 53.25%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1; font-family: 'Times New Roman',Times,serif;">If earned at or above minimum, then the target bonus for the year of termination, prorated for partial year of service</div>
                </td>
                <td style="width: 15.85%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">18 Months</div>
                </td>
              </tr>
              <tr>
                <td style="width: 30%; vertical-align: top;">
                  <div style="margin-right: 4.5pt; line-height: 1.00;">Senior Vice Presidents<br>
                  </div>
                </td>
                <td style="width: 13.95%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">12 Months</div>
                </td>
                <td style="width: 53.25%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1; font-family: 'Times New Roman',Times,serif;">If earned at or above minimum, then the target bonus for the year of termination, prorated for partial year of service</div>
                </td>
                <td style="width: 15.85%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">12 Months</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.00;"><br style="line-height: 1.00;">
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">1</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          </div>
          <div style="line-height: 1.00;">
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

                <tr>
                  <td rowspan="1" style="width: 13.21%; vertical-align: top;">&#160;</td>
                  <td rowspan="1" style="width: 86.79%; vertical-align: top; text-align: justify;">Upon a qualifying change-in-control event only when the recipient is terminated without &#8220;cause&#8221; or is subject to a &#8220;constructive termination&#8221; during the 24
                    months following a change-in-control, subject to employment, release, and other customary provisions, including a non-compete through 12 months post-termination, the Severance Agreements provide for the following benefits:</td>
                </tr>

            </table>
          </div>
          <div style="line-height: 1.00;"><br style="line-height: 1.00;">
          </div>
          <table cellspacing="0" cellpadding="0" border="0" align="center" style="border-collapse: collapse; width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z5ff08769af1b455bb7875daa110c807b">

              <tr>
                <td style="width: 30%; vertical-align: bottom;">
                  <div style="margin-right: 4.5pt; line-height: 1; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Title</u></div>
                </td>
                <td style="width: 30%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;">Lump Sum Severance Payment </div>
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;">(as a % of </div>
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;"><u>Annualized Base Salary)</u></div>
                </td>
                <td style="width: 39.14%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;"><u>Management Incentive Cash Bonus</u></div>
                </td>
                <td style="width: 18.7%; vertical-align: bottom;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;">COBRA </div>
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00; font-weight: bold;"><u>Reimbursement</u></div>
                </td>
              </tr>
              <tr>
                <td style="width: 30%; vertical-align: top;">Chief Executive Officer &amp; Co-Presidents</td>
                <td style="width: 30%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">300%</div>
                </td>
                <td style="width: 39.14%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">Target bonus for the year of termination</div>
                </td>
                <td style="width: 18.7%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">36 Months</div>
                </td>
              </tr>
              <tr>
                <td style="width: 30%; vertical-align: top;">
                  <div style="margin-right: 4.5pt; line-height: 1.00;">Executive Vice Presidents</div>
                </td>
                <td style="width: 30%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">200%</div>
                </td>
                <td style="width: 39.14%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">Target bonus for the year of termination</div>
                </td>
                <td style="width: 18.7%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">24 Months</div>
                </td>
              </tr>
              <tr>
                <td style="width: 30%; vertical-align: top;">
                  <div style="margin-right: 4.5pt; line-height: 1.00;">Senior Vice Presidents</div>
                </td>
                <td style="width: 30%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">100%</div>
                </td>
                <td style="width: 39.14%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">Target bonus for the year of termination</div>
                </td>
                <td style="width: 18.7%; vertical-align: top;">
                  <div style="text-align: center; margin-right: 4.5pt; line-height: 1.00;">12 Months</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.00;"><br style="line-height: 1.00;">
          </div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3e0b43d97baa4e91a57a0107c4d1237a">

              <tr>
                <td rowspan="1" style="width: 13%; vertical-align: top;">&#160;</td>
                <td rowspan="1" style="vertical-align: top;">
                  <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">Additionally, in connection with the Severance Agreements, the Board reviewed the non-compete agreement with Mr. Tweed&#160; in connection with the
                    Company&#8217;s purchase of Landair, and approved narrowing the scope of the non-compete to be consistent with the Severance Agreements.</div>
                  <div style="line-height: 1.00;"><br style="line-height: 1.00;">
                  </div>
                  <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">The foregoing summary of the Severance Agreements and Mr. Tweed&#8217;s non-compete does not purport to be complete and is qualified in its entirety
                    by reference to the copies of the Severance Agreements and non-compete, which will be filed with the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2020.</div>
                  <div style="line-height: 1.00;"><br style="line-height: 1.00;">
                  </div>
                  <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">The following is biographical information of those officers subject to the Appointments:</div>
                  <div style="line-height: 1.00;"><br style="line-height: 1.00;">
                  </div>
                  <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">John A. Tweed, 54, was appointed Co-President and Chief Operating Officer in April 2020.&#160; Mr. Tweed joined the Company in July 2018 following
                    our acquisition of Landair Holdings Inc. (&#8220;Landair&#8221;) and previously was the EVP and COO of Landair. Prior to the Company&#8217;s acquisition of Landair (the &#8220;Landair Acquisition&#8221;), Mr. Tweed served as the CEO of Landair since 2000. Prior to
                    becoming CEO of Landair, Mr. Tweed held various positions at Landair, including vice president of sales and special-projects manager. Mr. Tweed is an active committee and board member for several industry associations and community
                    organizations.</div>
                  <div style="text-align: justify; line-height: 1;"><font style="font-family: 'Times New Roman',Times,serif;">&#160;</font><br style="line-height: 1;">
                  </div>
                  <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">Joey B. Hogan, 58, was appointed Co-President and Chief Administrative Officer in April 2020.&#160; Previously, Mr. Hogan served as our President and
                    Chief Operating Officer from February 2016 to April 2020.&#160; From May 2007 to February 2016 Mr. Hogan served as our Senior Executive Vice President and COO, as well as President of CTI.&#160; Mr. Hogan was our CFO from 1997 to May 2007, our
                    Executive Vice President from May 2003 to May 2007, and a Senior Vice President from December 2001 to May 2003.&#160; From joining us in August 1997 through December 2001, Mr. Hogan served as our Treasurer.&#160; Mr. Hogan served as a director
                    and on the Audit Committee of Chattem, Inc., a consumer products company, from April 2009 through March 2010, and currently serves as an officer of the Truckload Carriers Association.</div>
                  <div style="text-align: justify; line-height: 1;"><font style="font-family: 'Times New Roman',Times,serif;">&#160;</font><br style="line-height: 1;">
                  </div>
                  <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">M. Paul Bunn, 42, was appointed our Executive Vice President, Chief Financial Officer, and Secretary in April 2020. Mr. Bunn previously served
                    as our Executive Vice President since April 2019, Chief Accounting Officer and Treasurer since January 2012, and Senior Vice President since 2017.&#160; Previously, Mr. Bunn served as our Corporate Controller from July 2009 to January 2012.&#160;
                    Prior to that, Mr. Bunn served as an Audit Senior Manager for Ernst &amp; Young, LLP, a global professional services provider.</div>
                  <div style="text-align: justify; line-height: 1;"><font style="font-family: 'Times New Roman',Times,serif;">&#160;</font><br style="line-height: 1;">
                  </div>
                  <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">Richard B. Cribbs, 48, was appointed Senior Vice President of Strategy &amp; Investor Relations, Treasurer in April 2020.&#160; Previously, Mr.
                    Cribbs served as our Executive Vice President and CFO since February 2016. From May 2008 to February 2016 Mr. Cribbs served as our Senior Vice President and CFO.&#160; Mr. Cribbs served as our Vice President and Chief Accounting Officer from
                    May 2007 to May 2008 and Corporate Controller from May 2006 to May 2007.&#160; Prior to joining the Company, Mr. Cribbs was the Corporate Controller, Assistant Secretary, and Assistant Treasurer for Tandus, Inc., a commercial flooring
                    company, from May 2005 to May 2006.&#160; Mr. Cribbs also previously served as CFO of Modern Industries, Inc., a tier two automotive supply company, from December 1999 to May 2005. <br>
                  </div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

              <tr>
                <td rowspan="1" style="width: 13%; vertical-align: top;">&#160;</td>
                <td rowspan="1" colspan="2" style="vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">
                  <div style="line-height: 1.00; font-weight: bold;">Item 7.01</div>
                </td>
                <td colspan="2" style="vertical-align: top;">
                  <div style="line-height: 1.00; font-weight: bold;">Regulation FD Disclosure.</div>
                </td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td colspan="2" style="vertical-align: top;">
                  <div style="text-align: justify; line-height: 1.00;">On April 28, 2020, the Company issued a press release announcing realignment of the executive team.</div>
                  <div style="line-height: 1.00;"><font style="line-height: 1.00;">&#160;</font></div>
                  <div style="line-height: 1.00;">A copy of the press release is attached to this report as Exhibit 99.</div>
                </td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">
                  <div style="line-height: 1.00; font-weight: bold;">Item 9.01</div>
                </td>
                <td colspan="2" style="vertical-align: top;">
                  <div style="line-height: 1.00; font-weight: bold;">Financial Statements and Exhibits.</div>
                </td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td style="width: 18%; vertical-align: top;">
                  <div style="text-align: center; line-height: 1.00; font-weight: bold;">(d)</div>
                </td>
                <td style="width: 69.04%; vertical-align: top;">
                  <div style="line-height: 1.00; font-weight: bold;">Exhibits.</div>
                </td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td style="width: 18%; vertical-align: top;">
                  <div style="text-align: center; line-height: 1.00;">EXHIBIT</div>
                  <div style="text-align: center; line-height: 1.00;"><u>NUMBER</u></div>
                </td>
                <td style="width: 69.04%; vertical-align: bottom;">
                  <div style="line-height: 1.00;"><u>EXHIBIT DESCRIPTION</u></div>
                </td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td style="width: 18%; vertical-align: top;">
                  <div style="text-align: center; line-height: 1.00;"><a href="exhibit99.htm">99</a></div>
                </td>
                <td style="width: 69.04%; vertical-align: top;">
                  <div style="text-align: justify; line-height: 1.00;">Covenant Transportation Group, Inc. press release announcing realignment of executive team.</div>
                </td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td colspan="2" style="vertical-align: top;">
                  <div style="text-align: justify; line-height: 1.00;">The information contained in Items 7.01 and 9.01 of this report and the exhibit hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
                    amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a
                    filing.</div>
                </td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 13%; vertical-align: top;">&#160;</td>
                <td colspan="2" style="vertical-align: top;">
                  <div style="text-align: justify; line-height: 1.00; font-style: italic;">The information in Item 5.02, 7.01, and 9.01 of this report may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act and
                    Section 21E of the Exchange Act and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended.&#160; Such statements are made based on the current beliefs
                    and expectations of the Company's management and are subject to significant risks and uncertainties.&#160; Actual results or events may differ from those anticipated by forward-looking statements.&#160; Please refer to the stockholder reports and
                    filings with the Securities and Exchange Commission for information concerning risks, uncertainties, and other factors that may affect future results.</div>
                </td>
              </tr>

          </table>
        </div>
        <div> <br>
        </div>
        <br>
      </div>
    </div>
  </div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div style="text-align: center; line-height: 1.00; font-weight: bold;">SIGNATURE</div>
  <div style="line-height: 1.00;"><br style="line-height: 1.00;">
  </div>
  <div style="text-align: justify; text-indent: 24pt; line-height: 1.00;">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>
  <div style="line-height: 1.00;"><br style="line-height: 1.00;">
  </div>
  <table cellspacing="0" cellpadding="0" id="zee64aec98b2c473795ce4a26e4ae215a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

      <tr>
        <td style="width: 38.06%; vertical-align: bottom;">&#160;</td>
        <td style="width: 61.94%; vertical-align: bottom;" colspan="2">
          <div style="line-height: 1.00; font-weight: bold;">COVENANT TRANSPORTATION GROUP, INC.</div>
        </td>
      </tr>
      <tr>
        <td style="width: 38.06%; vertical-align: bottom;">&#160;</td>
        <td style="width: 13.76%; vertical-align: bottom;">
          <div style="line-height: 1.00; font-style: italic;">(Registrant)</div>
        </td>
        <td style="width: 48.18%; vertical-align: bottom;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 38.06%; vertical-align: bottom;">&#160;</td>
        <td style="width: 13.76%; vertical-align: bottom;">&#160;</td>
        <td style="width: 48.18%; vertical-align: bottom;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 38.06%; vertical-align: bottom;">
          <div style="line-height: 1.00;">Date: April 30, 2020</div>
        </td>
        <td style="width: 13.76%; vertical-align: bottom;">
          <div style="line-height: 1.00;">By:</div>
        </td>
        <td style="width: 48.18%; vertical-align: bottom; border-bottom: #000000 1px solid;">
          <div style="line-height: 1.00;">/s/ Paul Bunn</div>
        </td>
      </tr>
      <tr>
        <td style="width: 38.06%; vertical-align: bottom;">&#160;</td>
        <td style="width: 13.76%; vertical-align: bottom;">&#160;</td>
        <td style="width: 48.18%; vertical-align: bottom; border-top: #000000 1px solid;">
          <div style="line-height: 1.00;">Paul Bunn</div>
        </td>
      </tr>
      <tr>
        <td style="width: 38.06%; vertical-align: bottom;">&#160;</td>
        <td style="width: 13.76%; vertical-align: bottom;">&#160;</td>
        <td style="width: 48.18%; vertical-align: bottom;">
          <div style="line-height: 1.00;">Executive Vice President, Chief Financial Officer, and Secretary</div>
        </td>
      </tr>

  </table>
  <div style="line-height: 1.00;"><br style="line-height: 1.00;">
  </div>
  <br>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div style="text-align: center; line-height: 1.00; font-weight: bold;">EXHIBIT INDEX</div>
  <div style="line-height: 1.00;"><br style="line-height: 1.00;">
  </div>
  <table cellspacing="0" cellpadding="0" id="z780b4ae2baeb4b63abfd9a91b6a95387" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

      <tr>
        <td style="width: 15.8%; vertical-align: bottom;">
          <div style="text-align: center; line-height: 1.00; font-weight: bold;">EXHIBIT</div>
          <div style="text-align: center; line-height: 1.00; font-weight: bold;"><u>NUMBER</u></div>
        </td>
        <td style="width: 84.2%; vertical-align: bottom;">
          <div style="line-height: 1.00; font-weight: bold;"><u>EXHIBIT DESCRIPTION</u></div>
        </td>
      </tr>
      <tr>
        <td style="width: 15.8%; vertical-align: bottom;">&#160;</td>
        <td style="width: 84.2%; vertical-align: bottom;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 15.8%; vertical-align: top;">
          <div style="text-align: center; line-height: 1.00;"><a href="exhibit99.htm">99</a></div>
        </td>
        <td style="width: 84.2%; vertical-align: top;">
          <div style="text-align: justify; line-height: 1.00;">Covenant Transportation Group, Inc. press release announcing realignment of executive team.</div>
        </td>
      </tr>

  </table>
  <div style="line-height: 1.00;"><br style="line-height: 1.00;">
  </div>
  <div style="line-height: 1.00; margin-bottom: 10pt;"><br style="line-height: 1.00;">
  </div>
  <br>
  <br>
  <br>
  <br>
  <br>
  <br>
  <br>
  <br>
</body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "form8k.htm", "description": "FORM 8-K (MANAGEMENT CHANGES)", "secsgml_size_bytes": 53255}]
{"company-data": {"conformed-name": "COVENANT TRANSPORTATION GROUP INC", "cik": "0000928658", "assigned-sic": "4213", "irs-number": "880320154", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-24960", "film-number": "20836638"}, "business-address": {"street1": "400 BIRMINGHAM HIGHWAY", "city": "CHATTANOOGA", "state": "TN", "zip": "37419", "phone": "4238211212"}, "mail-address": {"street1": "400 BIRMINGHAM HIGHWAY", "city": "CHATTANOOGA", "state": "TN", "zip": "37419"}, "former-company": {"former-conformed-name": "COVENANT TRANSPORT INC", "date-changed": "19940818"}}
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):
April 24, 2020
_______________________________________________________________________________
COVENANT TRANSPORTATION GROUP, INC.
(Exact name of registrant as specified in its charter)
Nevada
000-24960
88-0320154
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
400 Birmingham Hwy., Chattanooga, TN
37419
(Address of principal executive offices)
(Zip Code)
(423) 821-1212
(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))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
$0.01 Par Value Class A common stock
CVTI
The NASDAQ Global Select Market
Indicate by check mark whether that registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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 April 24, 2020, the Board of Directors (the "Board") of Covenant Transportation Group, Inc. (the "Company") appointed certain of the Company' executives to
                  new positions as follows (the "Appointments"):
Name
New Title
John A. Tweed
Co-President and Chief Operating Officer
Joey B. Hogan
Co-President and Chief Administrative Officer
M. Paul Bunn
Executive Vice President, Chief Financial Officer, and Secretary
Richard B. Cribbs
Senior Vice President and Treasurer
On April 24, 2020, in connection with the Appointments, the Compensation Committee approved the annualized base salaries set forth in the table below. For
                    Messrs. Tweed, Hogan, and Bunn, the salaries, as reduced in light of the uncertain impact of COVID-19 on the Company's operations, were effective April 26, 2020. For Mr. Cribbs, the salary, as reduced for the impact of COVID-19, will be
                    effective July 1, 2020. The higher salaries set forth in the table below will be effective when the Compensation Committee eliminates the salary reductions for the impact of COVID-19; provided that if the COVID-19 reductions are
                    eliminated prior to July 1, 2020, then Mr. Cribbs' annualized base salary will be $335,000 at such time until being reduced to $292,500 effective July 1, 2020.
Name
COVID-19 Reduced
Annualized Base Salary
Annualized Base Salary
John A. Tweed
$403,750
$500,000
Joey B. Hogan
$403,750
$500,000
M. Paul Bunn
$292,500
$325,000
Richard B. Cribbs
$277,875
$292,500
Mr. Tweed will also receive reimbursement of up to $100,000 annually for out-of-pocket housing and travel costs related to travel between
                      Greenville, Tennessee where Landair is headquartered and the Company's headquarters in Chattanooga, Tennessee where Mr. Tweed will manage additional business units and have additional housing.
On such date, the Compensation Committee also approved severance agreements (each a "Severance Agreement") for certain of the Company's
                      executive officers, including the Company's Named Executive Officers. Upon a qualifying severance event, subject to employment, release, and other customary provisions, including a non-compete through 12 months post-termination, the
                      Severance Agreements provide for the following benefits:
Title
Salary
Continuation
Management Incentive Cash Bonus
COBRA
Reimbursement
Chief Executive Officer & Co-Presidents
24 Months
If earned at or above minimum, then the target bonus for the year of termination, prorated for partial year of service
24 Months
Executive Vice Presidents
18 Months
If earned at or above minimum, then the target bonus for the year of termination, prorated for partial year of service
18 Months
Senior Vice Presidents
12 Months
If earned at or above minimum, then the target bonus for the year of termination, prorated for partial year of service
12 Months
1
Upon a qualifying change-in-control event only when the recipient is terminated without "cause" or is subject to a "constructive termination" during the 24
                    months following a change-in-control, subject to employment, release, and other customary provisions, including a non-compete through 12 months post-termination, the Severance Agreements provide for the following benefits:
Title
Lump Sum Severance Payment
(as a % of
Annualized Base Salary)
Management Incentive Cash Bonus
COBRA
Reimbursement
Chief Executive Officer & Co-Presidents
300%
Target bonus for the year of termination
36 Months
Executive Vice Presidents
200%
Target bonus for the year of termination
24 Months
Senior Vice Presidents
100%
Target bonus for the year of termination
12 Months
Additionally, in connection with the Severance Agreements, the Board reviewed the non-compete agreement with Mr. Tweed  in connection with the
                    Company's purchase of Landair, and approved narrowing the scope of the non-compete to be consistent with the Severance Agreements.
The foregoing summary of the Severance Agreements and Mr. Tweed's non-compete does not purport to be complete and is qualified in its entirety
                    by reference to the copies of the Severance Agreements and non-compete, which will be filed with the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2020.
The following is biographical information of those officers subject to the Appointments:
John A. Tweed, 54, was appointed Co-President and Chief Operating Officer in April 2020.  Mr. Tweed joined the Company in July 2018 following
                    our acquisition of Landair Holdings Inc. ("Landair") and previously was the EVP and COO of Landair. Prior to the Company's acquisition of Landair (the "Landair Acquisition"), Mr. Tweed served as the CEO of Landair since 2000. Prior to
                    becoming CEO of Landair, Mr. Tweed held various positions at Landair, including vice president of sales and special-projects manager. Mr. Tweed is an active committee and board member for several industry associations and community
                    organizations.
Joey B. Hogan, 58, was appointed Co-President and Chief Administrative Officer in April 2020.  Previously, Mr. Hogan served as our President and
                    Chief Operating Officer from February 2016 to April 2020.  From May 2007 to February 2016 Mr. Hogan served as our Senior Executive Vice President and COO, as well as President of CTI.  Mr. Hogan was our CFO from 1997 to May 2007, our
                    Executive Vice President from May 2003 to May 2007, and a Senior Vice President from December 2001 to May 2003.  From joining us in August 1997 through December 2001, Mr. Hogan served as our Treasurer.  Mr. Hogan served as a director
                    and on the Audit Committee of Chattem, Inc., a consumer products company, from April 2009 through March 2010, and currently serves as an officer of the Truckload Carriers Association.
M. Paul Bunn, 42, was appointed our Executive Vice President, Chief Financial Officer, and Secretary in April 2020. Mr. Bunn previously served
                    as our Executive Vice President since April 2019, Chief Accounting Officer and Treasurer since January 2012, and Senior Vice President since 2017.  Previously, Mr. Bunn served as our Corporate Controller from July 2009 to January 2012. 
                    Prior to that, Mr. Bunn served as an Audit Senior Manager for Ernst & Young, LLP, a global professional services provider.
Richard B. Cribbs, 48, was appointed Senior Vice President of Strategy & Investor Relations, Treasurer in April 2020.  Previously, Mr.
                    Cribbs served as our Executive Vice President and CFO since February 2016. From May 2008 to February 2016 Mr. Cribbs served as our Senior Vice President and CFO.  Mr. Cribbs served as our Vice President and Chief Accounting Officer from
                    May 2007 to May 2008 and Corporate Controller from May 2006 to May 2007.  Prior to joining the Company, Mr. Cribbs was the Corporate Controller, Assistant Secretary, and Assistant Treasurer for Tandus, Inc., a commercial flooring
                    company, from May 2005 to May 2006.  Mr. Cribbs also previously served as CFO of Modern Industries, Inc., a tier two automotive supply company, from December 1999 to May 2005.
2
Item 7.01
Regulation FD Disclosure.
On April 28, 2020, the Company issued a press release announcing realignment of the executive team.
A copy of the press release is attached to this report as Exhibit 99.
Item 9.01
Financial Statements and Exhibits.
(d)
Exhibits.
EXHIBIT
NUMBER
EXHIBIT DESCRIPTION
99
Covenant Transportation Group, Inc. press release announcing realignment of executive team.
The information contained in Items 7.01 and 9.01 of this report and the exhibit hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
                    amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a
                    filing.
The information in Item 5.02, 7.01, and 9.01 of this report may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act and
                    Section 21E of the Exchange Act and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended.  Such statements are made based on the current beliefs
                    and expectations of the Company's management and are subject to significant risks and uncertainties.  Actual results or events may differ from those anticipated by forward-looking statements.  Please refer to the stockholder reports and
                    filings with the Securities and Exchange Commission for information concerning risks, uncertainties, and other factors that may affect future results.
3
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.
COVENANT TRANSPORTATION GROUP, INC.
(Registrant)
Date: April 30, 2020
By:
/s/ Paul Bunn
Paul Bunn
Executive Vice President, Chief Financial Officer, and Secretary
EXHIBIT INDEX
EXHIBIT
NUMBER
EXHIBIT DESCRIPTION
99
Covenant Transportation Group, Inc. press release announcing realignment of executive team.