Covenant Logistics Approves Executive Comp Changes, Declares Dividend

Covenant Logistics Group's Compensation Committee approved significant changes to named executive officers' compensation, including a 2026 Long-Term Incentive Plan with target awards up to $2,984,000 for David R. Parker. These awards are split between performance-based restricted stock units and time-based cash, with Mr. Parker's entire award in cash. New annualized base salaries were also approved for James "Tripp" Grant, Dustin Koehl, and Joey Ballard, effective July 6, 2026, and severance agreements were amended for certain officers. Additionally, the Board declared a quarterly cash dividend of $0.07 per share, payable on June 26, 2026, to stockholders of record on June 5, 2026. At the Annual Meeting, shareholders re-elected directors, approved executive compensation on an advisory basis, and ratified Grant Thornton LLP as the independent auditor.