8-K
filed May 22, 2023, 7:59 PM ET
ticker CVLG
CIK 0000928658
other material
confidence high
sentiment neutral
materiality 0.60
Covenant Logistics: $0.11 dividend, share plan increase, exec compensation changes, ex-President retirement
COVENANT LOGISTICS GROUP, INC.
- Stockholders approved Third Amendment to Incentive Plan: +575,000 shares, term extended three years.
- New base salaries: Parker $804,710; Bunn $525,013; Grant $375,170; Hough $417,685; Doster $416,104 (eff. June 26, 2023).
- 2023 LTIP awards: Parker $1M cash; Bunn $600K; Grant $250K; Hough $200K; Doster $200K in restricted shares.
- Former President Joey Hogan retiring as officer June 30, 2023; receives $930K cash package; elected to Board.
- Quarterly dividend of $0.11 per share declared, payable June 30, 2023 to holders of record June 2, 2023.
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
COVENANT LOGISTICS GROUP, INC. shareholders approved Ratification of Grant Thornton LLP as independent auditor at the 2023-05-17 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
The appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023, was ratified as follows: Votes For Votes Against Abstentions Broker Non-Votes 14,714,478 13,396 2,595 —
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
COVENANT LOGISTICS GROUP, INC. shareholders approved Approval of Third Amendment at the 2023-05-17 meeting.
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
The Third Amendment was approved as follows: Votes For Votes Against Abstentions Broker Non-Votes 11,620,351 2,094,026 9,818 1,006,274
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
COVENANT LOGISTICS GROUP, INC. shareholders approved Advisory vote on executive compensation at the 2023-05-17 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
The compensation of the Company’s named executive officers was approved, on an advisory and non-binding basis, as follows: Votes For Votes Against Abstentions Broker Non-Votes 13,539,126 158,410 26,659 1,006,274
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
COVENANT LOGISTICS GROUP, INC. shareholders approved Advisory vote on frequency of future advisory votes on executive compensation at the 2023-05-17 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
In a non-binding, advisory vote, the stockholders voted as follows on the proposal to select the frequency of future non-binding, advisory votes on the compensation of the Company's named executive officers: One Year Two Years Three Years Abstentions Broker Non-Votes 12,732,839 17,759 966,133 7,464 1,006,274
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
COVENANT LOGISTICS GROUP, INC. shareholders approved Election of Directors at the 2023-05-17 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
The individuals listed below were elected to serve as directors of the Company until the next annual meeting of stockholders or until their successors are duly elected and qualified: Nominee For Withheld Broker Non-Votes Dr. Benjamin S. Carson, Sr. 11,476,808 2,247,387 1,006,274 Joey B. Hogan 13,209,347 514,848 1,006,274 D. Michael Kramer 13,630,784 93,411 1,006,274 Bradley A. Moline 9,329,798 4,394,397 1,006,274 David R. Parker 13,490,467 233,728 1,006,274 Rachel Parker-Hatchett 13,282,430 441,765 1,006,274 Tracy L. Rosser 13,707,832 16,363 1,006,274 Herbert J. Schmidt 10,464,048 3,260,147 1,006,274 W. Miller Welborn 13,661,696 62,499 1,006,274
View on SEC.gov
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