<SEC-DOCUMENT>0001008886-20-000046.txt : 20200406
<SEC-HEADER>0001008886-20-000046.hdr.sgml : 20200406
<ACCEPTANCE-DATETIME>20200406132356
ACCESSION NUMBER:		0001008886-20-000046
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200406
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20200406
DATE AS OF CHANGE:		20200406

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COVENANT TRANSPORTATION GROUP INC
		CENTRAL INDEX KEY:			0000928658
		STANDARD INDUSTRIAL CLASSIFICATION:	TRUCKING (NO LOCAL) [4213]
		IRS NUMBER:				880320154
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24960
		FILM NUMBER:		20776545

	BUSINESS ADDRESS:	
		STREET 1:		400 BIRMINGHAM HIGHWAY
		CITY:			CHATTANOOGA
		STATE:			TN
		ZIP:			37419
		BUSINESS PHONE:		4238211212

	MAIL ADDRESS:	
		STREET 1:		400 BIRMINGHAM HIGHWAY
		CITY:			CHATTANOOGA
		STATE:			TN
		ZIP:			37419

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COVENANT TRANSPORT INC
		DATE OF NAME CHANGE:	19940818
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K (COMPENSATION REDUCTIONS)
<TEXT>
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      <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 6, 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>
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              <div style="text-align: center;">Nevada</div>
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            <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>
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              <div style="text-align: center;">(Commission</div>
              <div style="text-align: center;">File Number)</div>
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              <div style="text-align: center;">(IRS Employer</div>
              <div style="text-align: center;">&#160;&#160;Identification No.)</div>
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            <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>
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            <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;">
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    <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>
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                    <div style="text-align: center; line-height: 1;">[&#160;&#160;&#160;]</div>
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                    <div style="text-align: left; line-height: 1;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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                </tr>
                <tr>
                  <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">&#160;</div>
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                  <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: left; line-height: 1;">&#160;</div>
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                  <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">
                    <div style="text-align: center; line-height: 1;">[&#160;&#160;&#160;]</div>
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                    <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>
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                    <div style="text-align: left; line-height: 1;">&#160;</div>
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                    <div style="text-align: left; line-height: 1;">&#160;</div>
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                    <div style="text-align: center; line-height: 1;">[&#160;&#160;&#160;]</div>
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                  <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>
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                    <div style="text-align: left; line-height: 1;">&#160;</div>
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                    <div style="text-align: center; line-height: 1;">[&#160;&#160;&#160;]</div>
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                  <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>
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          <div>&#160;</div>
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            <div>Securities registered pursuant to Section 12(b) of the Act:</div>
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                      <div style="TEXT-ALIGN: center">Title of each class</div>
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                    <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>
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                    <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>
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            <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>
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                    <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">&#160;</td>
                    <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">&#160;</td>
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                    <td style="WIDTH: 10.32%; VERTICAL-ALIGN: top">&#160;</td>
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                      <div style="text-align: right; line-height: 1; text-indent: 332.8pt;">Emerging growth company&#160; [&#160;&#160;&#160;]</div>
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                    <td style="WIDTH: 10.32%; VERTICAL-ALIGN: bottom">&#160;</td>
                    <td style="WIDTH: 89.68%; VERTICAL-ALIGN: bottom">&#160;</td>
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                  <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>
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            <td style="width: 8.81%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00; font-weight: bold;">Item 5.02</div>
            </td>
            <td colspan="9" style="width: 91.19%; 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>
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          <tr>
            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td colspan="9" style="width: 91.19%; vertical-align: top;">&#160;</td>
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            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td colspan="9" style="width: 91.19%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">On April 6, 2020, the Compensation Committee of the Board of Directors (the &#8220;Committee&#8221;) of Covenant Transportation Group, Inc. (the &#8220;Company&#8221;) approved certain compensation reductions for
                the Company&#8217;s named executive officers&#160; and the Company&#8217;s Board of Directors as described below in light of the uncertain impact of COVID-19 on the Company&#8217;s operations.</div>
              <div style="line-height: 1.00;"><font style="line-height: 1.00;">&#160;</font></div>
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            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td colspan="9" style="width: 91.19%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00; font-style: italic;"><u>Salary Reductions for the Company&#8217;s Named Executive Officers</u></div>
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          <tr>
            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td colspan="9" style="width: 91.19%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td colspan="9" style="width: 91.19%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">The Committee approved the following annualized base salary reductions for the Company&#8217;s named executive officers, effective April 6, 2020:</div>
              <div style="line-height: 1.00;"><font style="line-height: 1.00;">&#160;</font></div>
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            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td style="width: 1.71%; vertical-align: top;">&#160;</td>
            <td style="width: 23.86%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;"><u>Named Executive Officer</u></div>
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            <td style="width: 0.96%; vertical-align: top;"><br>
            </td>
            <td style="width: 22%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;"><u>Prior Annualized Salary</u></div>
            </td>
            <td style="width: 0.96%; vertical-align: top;"><br>
            </td>
            <td style="width: 24.87%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;"><u>Reduced Annualized Salary</u></div>
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            <td style="width: 0.96%; vertical-align: top;"><br>
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            <td style="width: 15.05%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;"><u>% Reduction</u></div>
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            <td style="width: 0.83%; vertical-align: top;">&#160;</td>
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            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td style="width: 1.71%; vertical-align: top;">&#160;</td>
            <td style="width: 23.86%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">David Parker</div>
            </td>
            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 22%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">$675,000</div>
            </td>
            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 24.87%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">$573,750</div>
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            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 15.05%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">15%</div>
            </td>
            <td style="width: 0.83%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td style="width: 1.71%; vertical-align: top;">&#160;</td>
            <td style="width: 23.86%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">Richard Cribbs</div>
            </td>
            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 22%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">$335,000</div>
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            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 24.87%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">$301,500</div>
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            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 15.05%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">10%</div>
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            <td style="width: 0.83%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td style="width: 1.71%; vertical-align: top;">&#160;</td>
            <td style="width: 23.86%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">Joey Hogan</div>
            </td>
            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 22%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">$475,000</div>
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            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 24.87%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">$403,750</div>
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            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 15.05%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">15%</div>
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            <td style="width: 0.83%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td style="width: 1.71%; vertical-align: top;">&#160;</td>
            <td style="width: 23.86%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">John Tweed</div>
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            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 22%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">$370,000</div>
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            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
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              <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">$333,000</div>
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            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 15.05%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">10%</div>
            </td>
            <td style="width: 0.83%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td style="width: 1.71%; vertical-align: top;">&#160;</td>
            <td style="width: 23.86%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">Ryan Rogers</div>
            </td>
            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 22%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">$270,000</div>
            </td>
            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 24.87%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">$243,000</div>
            </td>
            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 15.05%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1; font-family: 'Times New Roman',Times,serif;">10%</div>
            </td>
            <td style="width: 0.83%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td style="width: 1.71%; vertical-align: top;">&#160;</td>
            <td style="width: 23.86%; vertical-align: top;">&#160;</td>
            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 22%; vertical-align: top;">&#160;</td>
            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 24.87%; vertical-align: top;">&#160;</td>
            <td style="width: 0.96%; vertical-align: top;">&#160;</td>
            <td style="width: 15.05%; vertical-align: top;">&#160;</td>
            <td style="width: 0.83%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td colspan="9" style="width: 91.19%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00; font-style: italic;"><u>Compensation Reductions for the Company&#8217;s Board of Directors</u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td colspan="9" style="width: 91.19%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 8.81%; vertical-align: top;">&#160;</td>
            <td colspan="9" style="width: 91.19%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.00;">The Committee also approved a 15% reduction in each of the quarterly cash retainer, quarterly committee chairperson fees, and quarterly committee member fees that the Company pays to its
                Board of Directors effective April 1, 2020.</div>
              <div style="line-height: 1.00;"><font style="line-height: 1.00;">&#160;</font></div>
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        <div style="text-align: center; line-height: 1.00; font-weight: bold;">SIGNATURE</div>
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        </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>
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                <div style="line-height: 1.00; font-weight: bold;">COVENANT TRANSPORTATION GROUP, INC.</div>
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              <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>
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                <div style="line-height: 1.00;">Date: April 6, 2020</div>
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                <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/ Richard B. Cribbs</div>
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                <div style="line-height: 1.00;">Richard B. Cribbs</div>
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                <div style="line-height: 1.00;">Executive Vice President and Chief Financial Officer</div>
              </td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
