COVENANT LOGISTICS GROUP, INC.

Covenant Logistics Group, Inc. amended its Third Amended and Restated Credit Agreement, effective June 17, 2026. The Twenty-First Amendment increased the maximum revolving credit facility to $130 million and extended its maturity date to June 17, 2031. This amendment also added acquired subsidiaries as borrowers and provided greater flexibility for the company to incur unsecured debt.

Covenant Logistics Group released its 2025 Corporate Social Responsibility (CSR) Report, detailing significant progress in environmental responsibility and community stewardship. The report highlights the company's efforts in freight decarbonization, including the use of nearly 2 million gallons of renewable diesel and expansion of 100% biodiesel trucks. Covenant also achieved substantial CO2 reductions and fuel savings through aerodynamic efficiencies and electric auxiliary power units, while maintaining strong community engagement and receiving multiple sustainability awards.

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.

Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.07 per share for its Class A and Class B common stock. The dividend is payable to stockholders of record as of June 5, 2026, with an expected payment date of June 26, 2026. This declaration aligns with a cash dividend program previously approved by the company's board.

Covenant Logistics Group reported mixed financial results for the first quarter of 2026. The company saw a 14% increase in total revenue, reaching $307.16 million, driven by strong performance in its Managed Freight segment. However, net income declined by 32.65% to $4.42 million, and diluted EPS dropped to $0.17, primarily due to higher operating expenses and increased interest costs. Despite the dip in profitability, the company generated robust cash flow from operations and investing activities, and significantly reduced its total debt.

Covenant Logistics Group, Inc. announced its financial and operating results for the quarter ended March 31, 2026. The company issued a press release on April 23, 2026, detailing these results, which is attached as Exhibit 99.1 to this report.