<SEC-DOCUMENT>0001008886-21-000057.txt : 20210628
<SEC-HEADER>0001008886-21-000057.hdr.sgml : 20210628
<ACCEPTANCE-DATETIME>20210628171951
ACCESSION NUMBER:		0001008886-21-000057
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20201231
FILED AS OF DATE:		20210628
DATE AS OF CHANGE:		20210628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COVENANT LOGISTICS 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:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24960
		FILM NUMBER:		211054566

	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 TRANSPORTATION GROUP INC
		DATE OF NAME CHANGE:	20070522

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COVENANT TRANSPORT INC
		DATE OF NAME CHANGE:	19940818
</SEC-HEADER>
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      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 12pt; font-weight: bold;">&#160;</div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">FORM 11-K</div>
      <div><br>
      </div>
      <div style="font-size: 12pt;">(Mark One)</div>
      <div><br>
      </div>
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              <div style="font-size: 12pt; font-weight: bold;">[X]</div>
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            <td style="width: 94.56%; vertical-align: top;">
              <div style="font-size: 12pt; font-weight: bold;">ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
            </td>
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      </table>
      <div><br>
      </div>
      <div style="text-indent: 27.5pt; font-size: 12pt;">For the fiscal year ended <font style="font-weight: bold;">December 31, 2020</font></div>
      <div><br>
      </div>
      <div style="text-align: center; font-size: 12pt;">OR</div>
      <div><br>
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              <div style="font-size: 12pt; font-weight: bold;">[&#160; ]</div>
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            <td style="width: 94.56%; vertical-align: top;">
              <div style="font-size: 12pt; font-weight: bold;">TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
            </td>
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      <div><br>
      </div>
      <div style="text-indent: 27.5pt; font-size: 12pt;">For the transition period from<font style="font-weight: bold;"> ___________</font> to <font style="font-weight: bold;">______________</font></div>
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      <div style="font-size: 12pt; font-weight: bold;">Commission file number 0-24960</div>
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            <td style="width: 5.42%; vertical-align: top;">
              <div style="font-size: 12pt;">A.</div>
            </td>
            <td style="width: 94.58%; vertical-align: top;">
              <div style="font-size: 12pt;">Full title of the plan and the address of the plan, if different from that of the issuer named below:</div>
            </td>
          </tr>

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      <div><br>
      </div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">COVENANT TRANSPORTATION GROUP</div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">401(k) &amp; PROFIT SHARING PLAN</div>
      <div><br>
      </div>
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            <td style="width: 5.42%; vertical-align: top;">
              <div style="font-size: 12pt;">B.</div>
            </td>
            <td style="width: 94.58%; vertical-align: top;">
              <div style="font-size: 12pt;">Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">Covenant Logistics Group, Inc.</div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">400 Birmingham Highway</div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">Chattanooga, Tennessee 37419</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-weight: bold;">COVENANT TRANSPORTATION GROUP 401(k)<br>
        &amp; PROFIT SHARING PLAN</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-weight: bold;">Table of Contents</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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              <div>&#160;</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle;">
              <div style="text-align: center; font-weight: bold;">Page</div>
            </td>
          </tr>
          <tr>
            <td style="width: 89.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="font-weight: bold;">Reports of Independent Registered Public Accounting Firms</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center;"><a href="#REPORTOFINDEPENDENTREGIST">1</a></div>
            </td>
          </tr>
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            <td style="width: 89.98%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle;">&#160;</td>
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          <tr>
            <td style="width: 89.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="font-weight: bold;">Financial Statements</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 89.98%; vertical-align: middle;">
              <div>Statements of Net Assets Available for Benefits as of December 31, 2020 and 2019</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle;">
              <div style="text-align: center;"><a href="#Statementofnetassets">3</a><br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 89.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div>Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2020</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center;"><a href="#statementofchanges">4</a><br>
              </div>
            </td>
          </tr>
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            <td style="width: 89.98%; vertical-align: middle;">
              <div>Notes to Financial Statements</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle;">
              <div style="text-align: center;"><a href="#Notes">5-11</a><br>
              </div>
            </td>
          </tr>
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              <div>&#160;</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 89.98%; vertical-align: middle;">
              <div style="font-weight: bold;">Supplemental Schedule</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 89.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div>Schedule H, Line 4i &#8211; Schedule of Assets (Held at End of Year) as of December 31, 2020</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center;"><a href="#ScheduleH">12</a></div>
            </td>
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          <tr>
            <td style="width: 89.98%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 89.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="font-weight: bold;">Exhibits</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
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            <td style="width: 89.98%; vertical-align: middle;">
              <div>Exhibit 23.1 Consent of Independent Registered Public Accounting Firm &#8211; Coulter &amp; Justus, P.C</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle;">
              <div style="text-align: center;"><a href="exhibit231.htm">Exhibit 23.1</a></div>
            </td>
          </tr>
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            <td style="width: 89.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div>Exhibit 23.2 Consent of Independent Registered Public Accounting Firm &#8211; Mauldin &amp; Jenkins, P.C.</div>
            </td>
            <td style="width: 10.02%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center;"><a href="exhibit232.htm">Exhibit 23.2</a></div>
            </td>
          </tr>

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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;"><a name="REPORTOFINDEPENDENTREGIST"><!--Anchor--></a>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="font-weight: bold;">Plan Administrator and Plan Participants</div>
      <div style="font-weight: bold;">Covenant Transportation Group 401(k) &amp; Profit Sharing Plan</div>
      <div><br>
      </div>
      <div style="font-weight: bold;">Opinion on the Financial Statements</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We have audited the accompanying statement of net assets available for benefits<font style="font-size: 8pt;">&#160;</font>of the Covenant Transportation Group 401(k) &amp; Profit Sharing Plan<font style="font-weight: bold;">&#160;</font>(the &#8220;Plan&#8221;) as of December 31, 2020, the related statement of changes in net assets available for benefits for the year ended December 31, 2020, and the related notes and schedule (collectively referred to as the financial
        statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2020, and the changes in net assets available for benefits for the year ended
        December 31, 2020, in conformity with accounting principles generally accepted in the United States of America.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-weight: bold;">Basis for Opinion</div>
      <div><br>
      </div>
      <div style="text-align: justify;">These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audit. We are a public accounting firm registered
        with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities
        and Exchange Commission and the PCAOB.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the<font style="font-style: italic;">&#160;</font>financial



        statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to
        obtain an understanding of internal control over financial reporting, but not for purposes of expressing an opinion on the effectiveness of the Plan&#8217;s internal control over financial reporting. Accordingly, we express no such opinion.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures
        included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
        the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-weight: bold;">Supplemental Information</div>
      <div><br>
      </div>
      <div style="text-align: justify;">The supplemental information in the accompanying Schedule of Assets (Held at End of Year) as of December 31, 2020 has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial
        statements. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the<font style="font-style: italic;">&#160;</font>financial statements
        or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we
        evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.
        In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">/s/ Coulter &amp; Justus, P.C.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We have served as the Plan&#8217;s auditor since 2020.</div>
      <div><br>
      </div>
      <div>June 28, 2021</div>
      <div>Knoxville, Tennessee</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">1</font></div>
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      <br>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="font-weight: bold;">To the Plan Administrator and Plan Participants</div>
      <div style="font-weight: bold;">Covenant Transportation Group 401(k) &amp; Profit Sharing Plan</div>
      <div><br>
      </div>
      <div style="font-weight: bold;">Opinion on the Financial Statements</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We have audited the accompanying statement of net assets available for benefits<font style="font-size: 8pt;">&#160;</font>of the <font style="font-weight: bold;"><font style="font-weight: normal;">Covenant Transportation
            Group 401(k) &amp; Profit Sharing Plan</font> </font>(the &#8220;Plan&#8221;) as of December 31, 2019 and the related notes to the financial statements (collectively the <font style="font-style: italic;">financial statements</font>).&#160; In our opinion, the
        financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2019, in conformity with accounting principles generally accepted in the United States of America.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-weight: bold;">Basis for Opinion</div>
      <div><br>
      </div>
      <div style="text-align: justify;">These financial statements are the responsibility of the Plan&#8217;s management. Our responsibility is to express an opinion on the Plan&#8217;s financial statements based on our audit. We are a public accounting firm
        registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the
        Securities and Exchange Commission and the PCAOB.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of
        material misstatement, whether due to error or fraud.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures
        included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
        the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">/s/ Mauldin &amp; Jenkins, LLC</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We served as the Plan&#8217;s auditor from 2018 to 2020.</div>
      <div><br>
      </div>
      <div>Chattanooga, Tennessee</div>
      <div>June 19, 2020</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;"> <br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
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      </div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z0fa88b1f73c941f6a2246dc22a5d88a9" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 100%; vertical-align: middle;">
              <div style="text-align: center; font-weight: bold;"><a name="Statementofnetassets"><!--Anchor--></a>COVENANT TRANSPORTATION GROUP 401(k) &amp; PROFIT SHARING PLAN</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle;">
              <div style="text-align: center;">Statements of Net Assets Available for Benefits</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle;">
              <div style="text-align: center;">December&#160;31, 2020&#160;and 2019</div>
            </td>
          </tr>

      </table>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z4c66f8abbff240cd8a0ab046261b0397">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center;"> 2020</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center;">2019</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
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            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
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            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>47,506</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>14,861</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>&#160;&#160;Investments, at fair value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>59,602,369</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>55,858,385</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div>&#160;&#160;Notes receivable from participants</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>1,474,563</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>1,738,021</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>&#160;&#160;Participants' contribution receivable</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>102,148</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>52,862</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div>&#160;&#160;Company contribution receivable</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>20,199</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>16,670</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 1px;">
              <div>&#160;&#160;Other receivable</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">
              <div>3,652</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">
              <div>3,607</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total Assets</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>61,250,437</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>57,684,406</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div>Liabilities:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 1px;">
              <div>&#160;&#160;Excess contributions payable</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">
              <div>92,112</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total liabilities</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 1px;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;">
              <div>&#160;&#160;&#160;&#160;&#160;Net assets available for benefits</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
              <div>61,158,325</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
              <div>57,684,406</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">The accompanying notes are an integral part of these financial statements.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z07e65ff911eb4a409698c09d2a4324e4" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 100%; vertical-align: middle;">
              <div style="text-align: center; font-weight: bold;"><a name="statementofchanges"><!--Anchor--></a>COVENANT TRANSPORTATION GROUP 401(k) &amp; PROFIT SHARING PLAN</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle;">
              <div style="text-align: center;">Statement of Changes in Net Assets Available for Benefits</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle;">
              <div style="text-align: center;">Year Ended December&#160;31, 2020</div>
            </td>
          </tr>

      </table>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
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            </td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div>&#160;&#160;Investment income:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div>&#160;&#160;&#160;&#160;Interest and dividends</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>809,026</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 1px;">
              <div>&#160;&#160;&#160;&#160;Net appreciation in fair value of investments</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">
              <div>7,138,917</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div>&#160;&#160;&#160;&#160;&#160;&#160;Net investment gain</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>7,947,943</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div>&#160;&#160;Interest on notes receivable from participants</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>92,142</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%;">
              <div>&#160;&#160;Contributions from participants</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>5,435,882</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%;">
              <div>&#160;</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%;">
              <div>&#160;</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 1px;">
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div>Net increase in net assets available for benefits</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>Net assets available for benefits at beginning of year</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>57,684,406</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;">
              <div>Net assets available for benefits at end of year</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">The accompanying notes are an integral part of these financial statements.</div>
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      </div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-weight: bold;"><a name="Notes"><!--Anchor--></a>COVENANT TRANSPORTATION GROUP 401(k) &amp; PROFIT SHARING PLAN</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">Notes to Financial Statements</div>
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            <td style="width: 97%; vertical-align: top;">
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            </td>
          </tr>

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      <div style="text-align: justify; text-indent: 0pt; margin-left: 27pt;">The following is a summary of significant accounting policies followed by the Covenant Transportation Group 401(k) &amp; Profit Sharing Plan (the &#8220;Plan&#8221;), in preparing its
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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              <div>&#160;</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">The accompanying financial statements of the Plan have been prepared on the accrual basis of accounting and present the net assets available for benefits and changes in those net
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      <div style="margin: 0px 0px 0px 90pt; text-align: justify; text-indent: 0pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make
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              <div>&#160;</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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              <div>&#160;</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 90pt; text-align: justify; text-indent: 0pt;">The Plan records participant loans as notes receivable from participants. They are valued at the unpaid principal balances plus accrued interest. Delinquent notes
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              <div>&#160;</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">Plan management has evaluated events and transactions that occurred between December 31, 2020&#160;and the issuance of the report for possible recognition or disclosure in the
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-weight: bold;">COVENANT TRANSPORTATION GROUP 401(k) &amp; PROFIT SHARING PLAN</div>
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      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">Notes to Financial Statements</div>
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      <div style="text-indent: -18pt; margin-left: 18pt;">&#160;</div>
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              <div>&#160;</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">The Plan is a defined contribution plan that covers substantially all employees of Covenant Logistics Group, Inc., and certain subsidiaries (collectively, the&#160;&#8220;Company&#8221;). The Plan
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      <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">&#160;</div>
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              <div>&#160;</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">Contributions to the Plan may be made by both participants and the Company. Participants may contribute both pre-tax and after-tax Roth contributions up to a maximum of 85% of
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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            <td style="width: 7%; vertical-align: middle;">
              <div>&#160;</div>
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            <td style="width: 3%; vertical-align: top;">
              <div style="font-style: italic; font-weight: bold;">(c)</div>
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            <td style="width: 84%; vertical-align: top;">
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">The plan document requires that the assets of the Plan be accounted for separately as to participant and Company contributions and valued daily, allocating to each participant his
        or her share of income and losses. Company voluntary contributions are allocated to all eligible participants based on the participants&#8217; contributions for the period. Participant accounts may be invested in one or more of the investment funds
        available under the Plan at the direction of the participant. As of December 31, 2020, there are various mutual fund and collective trust fund options as well as the Covenant Transportation Group, Inc. 401(k) Unitized Stock Fund (&#8220;Unitized CVTI
        Fund&#8221;) option.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">The Unitized CVTI Fund invests principally in the common stock of Covenant Logistics Group, Inc. and holds cash or liquid short term investments to allow participants to buy or
        sell units in the fund without the usual trade period for stock transactions. Typically, the Unitized CVTI Fund holds three percent of its value in cash or liquid short-term investments. Participants may elect to transfer all or a portion of their
        balances in the Unitized CVTI Fund to any of the various fund alternatives at any time. Each participant is entitled to exercise voting rights attributable to the Company common stock allocated to his or her account and is notified by the State
        Street Bank &amp; Trust Company (the &#8220;Trustee&#8221;) prior to the time that such rights are to be exercised.&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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              <div>&#160;</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">Subject to approval, a participant can secure a loan from the Plan against his/her account balance for a minimum of $1,000 up to the lesser of 50% of the vested account balance or
        $50,000. Loans may generally be repaid over one to five years. Loans must be repaid through automatic payroll deductions unless otherwise provided for by the plan administrator. A participant may only have one loan outstanding at a time. The
        interest rate is the prime rate plus 1% and is fixed over the life of the loan. Individuals with loans may choose to continue to participate in the Plan.</div>
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        <div><br>
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        <div style="font-family: 'Times New Roman',Times,serif;">The Plan implemented certain relief provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was passed by Congress in March 2020 in response to the outbreak of a
          novel strain of coronavirus (COVID-19), which permitted certain immediate and temporary relief for retirement plan participants with respect to notes receivable from participants. Through September 23, 2020, impacted participants could borrow up
          to the lessor of $100,000 or 100% of their vested account balance from the Plan, and loan repayments due through December 31, 2020 could be suspended for up to one year; however, interest continues to accrue on the loans during this period.</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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              <div>&#160;</div>
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              <div style="font-style: italic; font-weight: bold;">Payment of Benefits</div>
            </td>
          </tr>

      </table>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">Upon retirement, death, disability, or termination of service, a participant (or participant&#8217;s beneficiary in the event of death) may elect to receive a lump-sum distribution
        equal to the value of the participant&#8217;s vested account balance.</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;"> <br>
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      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">
        <div style="font-family: 'Times New Roman',Times,serif;">The Plan implemented certain relief provisions of the CARES Act, which permitted certain immediate and temporary relief for retirement plan participants with respect to distributions. Through
          December 31, 2020, impacted participants had the ability to take a COVID-19 related distribution of up to $100,000 from their account without a 10% early withdrawal penalty.</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 90pt;">Benefits are recorded when paid.</div>
      <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt; font-family: 'Times New Roman',Times,serif; text-indent: 9pt;"> <br>
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      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-weight: bold;">COVENANT TRANSPORTATION GROUP 401(k) &amp; PROFIT SHARING PLAN</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">Notes to Financial Statements</div>
      <div><br>
      </div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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              <div>&#160;</div>
            </td>
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          </tr>

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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">The Plan permits distributions in the event of a hardship once a participant furnishes proof of hardship, as defined in the plan agreement. These distributions are taxable and
        subject to a tax penalty equal to 10% of the hardship distribution amount if the participant is younger than 59 &#189;. Hardship withdrawals are limited to the participant&#8217;s elective account balance. Participants with a hardship withdrawal are not
        allowed to make contributions to the Plan for six months after the withdrawal.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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              <div>&#160;</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">Participants are immediately vested in their contributions and the investment earnings (losses) thereon. Participants vest 100% in Company contributions&#160;after three years of
        credited service.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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              <div>&#160;</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 90pt; text-align: justify; text-indent: 0pt;">Amounts forfeited by participants who terminate from the Plan prior to being 100% vested are applied first, to restore participant accounts when a participant is rehired
        after a break in service, as defined in the plan document, then to reduce subsequent Company contributions to the Plan, and finally, any remaining amounts are used to pay plan expenses. Participants forfeited&#160;$112,104&#160;during 2020. During 2020,
        $38,849 was utilized to reduce Company contributions. Forfeitures of&#160;$104,814 and&#160;$29,025&#160;were unallocated at December 31,&#160;2020 and 2019, respectively.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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              <div>&#160;</div>
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              <div style="font-style: italic; font-weight: bold;">(i)</div>
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            </td>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 90pt; text-align: justify; text-indent: 0pt;">Amounts payable to participants totaling $92,112 at December 31, 2020 for contributions in excess or amounts allowed by the Internal Revenue Service (IRS) are recorded as a
        liability with a corresponding reduction to cash contributions. The Plan distributed the 2020 excess contributions to the applicable participants prior to March 15, 2021.</div>
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              <div>&#160;</div>
            </td>
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              <div style="font-style: italic; font-weight: bold;">(j)</div>
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            </td>
          </tr>

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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 90pt;">Certain expenses of maintaining the Plan are paid directly by the Company and are excluded from these financial statements. Plan service fees (Note 3), participant account
        maintenance charges, and fees related to the processing of distributions and the administration of notes receivable from participants are charged directly to the respective participants&#8217; accounts and are included in administrative fees.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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              <div>&#160;</div>
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              <div style="font-style: italic; font-weight: bold;">(k)</div>
            </td>
            <td style="width: 84%; vertical-align: top;">
              <div style="font-style: italic; font-weight: bold;">Plan Termination</div>
            </td>
          </tr>

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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 90pt; text-align: justify; text-indent: 0pt;">While it is the Company&#8217;s intention to continue the Plan, the Company has the right under the Plan Document to discontinue its contributions at any time and to terminate
        the Plan subject to the provisions of ERISA and the plan agreement. In the event of the Plan&#8217;s termination, participants will become 100% vested in their accounts.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div><br>
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      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-weight: bold;">COVENANT TRANSPORTATION GROUP 401(k) &amp; PROFIT SHARING PLAN</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">Notes to Financial Statements</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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            </td>
          </tr>

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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 34.2pt; text-align: justify;">At December 31, 2020 and 2019, the Plan held investments in bank accounts, collective trust funds, and money market accounts sponsored by the Trustee or affiliated entities with fair
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        were paid to parties-in-interest.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 34.2pt; text-align: justify;">Transamerica Retirement Solutions Corporation (TRSC) provides certain administrative services for the Plan pursuant to a Pension Services Agreement (&#8220;Agreement&#8221;). TRSC receives revenue
        from investment plan service fees charged to participants&#8217; accounts as specified in the Agreement. This revenue is used to offset certain amounts owed to TRSC for its administrative services to the Plan (i.e. required revenue). Any excess of the
        plan service fees above the required revenue, as defined in the Agreement, is held in an unallocated Expense Budget Account and may be used to pay other plan related expenses approved by the Company&#8217;s management or can be allocated to participants
        at the end of the year at the discretion of the Company&#8217;s management.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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            </td>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 34.55pt; text-align: justify; text-indent: -0.35pt;">Fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that
        market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, fair value accounting standards establish a fair value hierarchy that distinguishes between
        market participant assumptions based on market data. The three levels of the fair value hierarchy are described below:</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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            </td>
            <td style="width: 1.79%; vertical-align: top;">
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            <td style="width: 90.18%; vertical-align: top;">
              <div style="text-align: justify; margin-right: 7.2pt;">Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.</div>
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          <tr>
            <td style="width: 8.04%; vertical-align: top;">&#160;</td>
            <td style="width: 1.79%; vertical-align: top;">&#160;</td>
            <td style="width: 90.18%; vertical-align: top;">&#160;</td>
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              <div style="text-align: justify; margin-right: 7.2pt;">Level 2</div>
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            <td style="width: 90.18%; vertical-align: top;">
              <div style="text-align: justify; margin-right: 7.2pt;">Inputs to the valuation methodology include:</div>
            </td>
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            <td style="width: 8.04%; vertical-align: top;">&#160;</td>
            <td style="width: 1.79%; vertical-align: top;">&#160;</td>
            <td style="width: 90.18%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 8.04%; vertical-align: top;">&#160;</td>
            <td style="width: 1.79%; vertical-align: top;">
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            <td style="width: 90.18%; vertical-align: top;">
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            </td>
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          <tr>
            <td style="width: 8.04%; vertical-align: top;">&#160;</td>
            <td style="width: 1.79%; vertical-align: top;">&#160;</td>
            <td style="width: 90.18%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 8.04%; vertical-align: top;">&#160;</td>
            <td style="width: 1.79%; vertical-align: top;">
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            <td style="width: 90.18%; vertical-align: top;">
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            </td>
          </tr>
          <tr>
            <td style="width: 8.04%; vertical-align: top;">&#160;</td>
            <td style="width: 1.79%; vertical-align: top;">&#160;</td>
            <td style="width: 90.18%; vertical-align: top;">&#160;</td>
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            <td style="width: 1.79%; vertical-align: top;">
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            </td>
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              </div>
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            <td style="width: 8.04%; vertical-align: top;">&#160;</td>
            <td style="width: 1.79%; vertical-align: top;">&#160;</td>
            <td style="width: 90.18%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 8.04%; vertical-align: top;">&#160;</td>
            <td style="width: 1.79%; vertical-align: top;">
              <div style="text-align: right;">-&#160;</div>
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            <td style="width: 90.18%; vertical-align: top;">
              <div style="text-align: justify; margin-right: 7.2pt;">Inputs that are derived principally from or corroborated by observable market data by correlation or other means.</div>
            </td>
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            <td style="width: 8.04%; vertical-align: top;">&#160;</td>
            <td style="width: 1.79%; vertical-align: top;">&#160;</td>
            <td style="width: 90.18%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 8.04%; vertical-align: top;">&#160;</td>
            <td style="width: 1.79%; vertical-align: top;">
              <div style="text-align: right;">-&#160;</div>
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              <div style="text-align: justify; margin-right: 7.2pt;">If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.</div>
            </td>
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          <tr>
            <td style="width: 8.04%; vertical-align: top;">&#160;</td>
            <td style="width: 1.79%; vertical-align: top;">&#160;</td>
            <td style="width: 90.18%; vertical-align: top;">&#160;</td>
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            <td style="width: 1.79%; vertical-align: top;">
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          </tr>

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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div><br>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-weight: bold;">COVENANT TRANSPORTATION GROUP 401(k) &amp; PROFIT SHARING PLAN</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">Notes to Financial Statements</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 34.2pt; text-align: justify;">The asset&#8217;s or liability&#8217;s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
        Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.</div>
      <div style="margin: 0px 0px 0px 7.2pt;">&#160;</div>
      <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">The following is a description of the valuation methodologies used for asset measurement measured at fair value. There have been no changes in the methodologies used at
        December 31,&#160;2020 and 2019.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z7e3833cfb2a8476ebd73ffb2327b3a76" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 5%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.33%; vertical-align: top;">
              <div style="text-align: justify;">(i)</div>
            </td>
            <td style="width: 86.67%; vertical-align: top;">
              <div style="text-align: justify;">Cash: Valued at its outstanding balance as reported by the Trustee.</div>
            </td>
          </tr>

      </table>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" id="z1438ce2ce968443ab92cbf42c848fb95" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 5.16%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 8%; vertical-align: top;">
              <div style="text-align: justify;">(ii)</div>
            </td>
            <td style="width: 87%; vertical-align: top;">
              <div style="text-align: justify;">Mutual funds: Valued at the net asset value (NAV) of shares held by the Plan at year-end, based on closing prices reported on the active market on which the individual securities are traded.</div>
            </td>
          </tr>

      </table>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" id="z0fdb3ea89dcf4b73bbe9da2fb77873e2" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 5.16%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 8%; vertical-align: top;">
              <div style="text-align: justify;">(iii)</div>
            </td>
            <td style="width: 87%; vertical-align: top;">
              <div style="text-align: justify;">Unitized stock fund: The Unitized CVTI Fund is comprised of Covenant Logistics Group, Inc., common stock and cash. The common stock is carried at fair value based on the closing price as reported on the
                active market. Investments in the fund are stated at estimated fair values, which have been determined based on unit values. Unit values are determined by dividing the fund&#8217;s net assets at fair value by its units outstanding at the
                valuation dates. The unit values of the fund were $7.46&#160;and&#160;$6.71&#160;on December 31, 2020 and 2019, respectively.</div>
            </td>
          </tr>

      </table>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 34.2pt; text-align: justify;">The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan's
        management believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine fair value of certain financial instruments could result in a different fair
        value measurement at the reporting date.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-weight: bold;">COVENANT TRANSPORTATION GROUP 401(k) &amp; PROFIT SHARING PLAN</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">Notes to Financial Statements</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin-right: 7.2pt; margin-left: 34.2pt;">The following tables set forth by level, within the fair value hierarchy, the Plan&#8217;s assets at fair value as of December 31, 2020 and 2019:</div>
      <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zd5070733df6f4e49a0697ba15ea17269" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 100%; vertical-align: middle;">
              <div style="text-align: center;">Fair value Measurements as of</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle;">
              <div style="text-align: center;">December&#160;31, 2020</div>
            </td>
          </tr>

      </table>
      <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z4e95c86843154a2bb568caf83120ace4">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center;">Total</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">Level 1</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">Level 2</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">Level 3</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
              <div>Cash</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>116,831</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>116,831</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%;">
              <div>Mutual funds</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>51,073,382</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>51,073,382</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>Unitized CVTI fund</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>4,420,755</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>4,420,755</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px;">
              <div>Total assets in the fair value hierarchy</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;" colspan="1">
              <div>55,610,968</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1">
              <div>51,190,213</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1">
              <div>4,420,755</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>Investments measured at NAV as a practical expedient (a)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,991,401</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px;">
              <div style="text-indent: 9pt;">Total investments at fair value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1">
              <div>59,602,369</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z0afc9c31a4444820b075798f4cd281ed" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 100%; vertical-align: middle;">
              <div style="text-align: center;">Fair value Measurements as of</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle;">
              <div style="text-align: center;">December&#160;31, 2019</div>
            </td>
          </tr>

      </table>
      <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zc29521bad1ce42f59d16543e929a9067">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center;">Total</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">Level 1</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">Level 2</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">Level 3</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
              <div>Cash</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>38,287</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>38,287</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%;">
              <div>Mutual funds</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>52,345,946</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>52,345,946</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>Unitized CVTI fund</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,850,787</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,850,787</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px;">
              <div>Total assets in the fair value hierarchy</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;" colspan="1">
              <div>54,235,020</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1">
              <div>52,384,233</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1">
              <div>1,850,787</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>Investments measured at NAV as a practical expedient (a)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,623,365</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px;">
              <div style="text-indent: 9pt;">Total investments at fair value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1">
              <div>55,858,385</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z98348e2bdfa8453f9ea860c44e6a3f18" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 100%; vertical-align: bottom;">
              <div style="text-align: justify;">(a) Certain investments are measured at NAV as a practical expedient to estimate fair value and, therefore, have not been classified in the fair value hierarchy. The fair value amounts presented in this table
                are intended to permit reconciliation of the fair value hierarchy to the line items presented in the statements of net assets available for benefits.</div>
            </td>
          </tr>

      </table>
      <div style="margin-right: 7.2pt;">&#160;</div>
      <div style="text-align: justify;">The following table summarizes investments for which the fair value is measured using the NAV per share practical expedient as of December 31, 2020 and 2019, respectively.</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z1a8fb5f4bda44111af15546727a4a9ec">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; width: 21.3333%;">
              <div><u>Description</u></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center;">Fair Value </div>
              <div style="text-align: center;">December 31, 2020</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center;">Fair Value</div>
              <div style="text-align: center;"> December 31, 2019</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center;">Unfunded Commitments</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 21.3333%;">
              <div style="text-align: center;">Redemption Frequency </div>
              <div style="text-align: center;">(if Currently Eligible)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 21.3333%;">
              <div style="text-align: center;">Redemption Notice Period</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 21.3333%; background-color: rgb(204, 238, 255);">
              <div>Collective Trust Fund</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>3,991,401</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>1,623,365</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>N/A</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 21.3333%; background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">Daily</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 21.3333%; background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">None</div>
            </td>
          </tr>

      </table>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-weight: bold;">COVENANT TRANSPORTATION GROUP 401(k) &amp; PROFIT SHARING PLAN</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">Notes to Financial Statements</div>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" id="zabfc12f65775408099e5306a80a0c900" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 3%; vertical-align: top;">
              <div style="font-weight: bold;">(5)</div>
            </td>
            <td style="width: 97%; vertical-align: top;">
              <div style="font-weight: bold;">Income Tax Status</div>
            </td>
          </tr>

      </table>
      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 34.2pt; text-align: justify;">The Company adopted a volume submitter plan, which received a favorable opinion letter from the IRS on March 31, 2014, which stated that the volume submitter plan was designed in
        accordance with the applicable sections of the IRC. The Plan itself has not received a determination letter from the IRS stating that the Plan is qualified under Section 401(a) of the IRC. However, the plan administrator believes that the adopted
        volume submitter plan is designed, as amended, and is currently being operated in compliance with the applicable requirements of the IRC and is therefore, qualified and exempt from taxation.</div>
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      <div style="margin: 0px 0px 0px 34.2pt; text-align: justify;">U.S. GAAP requires plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than
        not would not be sustained upon examination by the IRS. The plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2020 and 2019, there are no uncertain positions taken or expected to be taken
        that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 34.2pt; text-align: justify;">The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market volatility and credit risks. Due to the level of risk
        associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants&#8217; account balances and the
        amounts reported in the financial statements and supplemental schedule.</div>
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      <div style="margin: 0px 0px 0px 34.2pt; text-align: justify;">As a result of the recent coronavirus (COVID-19) outbreak, economic uncertainties have arisen which have resulted in significant volatility in the investment markets. The duration of the
        uncertainties and the ultimate financial effects on the Plan&#8217;s investments cannot be reasonable estimated at this time.</div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="margin: 0px 0px 0px 34.2pt; text-align: justify;">Plan management has evaluated the effects of events that have occurred subsequent to December 31, 2020 through the issuance of these financial statements and have identified no subsequent
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      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
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      <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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              <div style="text-align: center; font-weight: bold;">COVENANT TRANSPORTATION GROUP 401(k) &amp; PROFIT SHARING PLAN<a name="ScheduleH"><!--Anchor--></a></div>
            </td>
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          <tr>
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              <div style="text-align: center; font-weight: bold;">EIN 88-0320154 Plan No. 001</div>
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          <tr>
            <td style="width: 100%; vertical-align: middle;">
              <div style="text-align: center; font-weight: bold;">Schedule H, Line 4i - Schedule of Assets (Held at End of Year)</div>
            </td>
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          <tr>
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              <div style="text-align: center; font-weight: bold;">December&#160;31, 2020</div>
            </td>
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      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">(a)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">
              <div style="text-align: center; font-weight: bold;">(b)<br>
                Identity of Issuer, Borrower, Lessor or Similar Party</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">
              <div style="text-align: center; font-weight: bold;">(c)<br>
                Description of Investment, Including Maturity Date, Rate of Interest, Par or Maturity Value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">(e)<br>
                Current Value</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div style="font-weight: bold;">*</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>State Street Bank &amp; Trust Co.</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div style="font-weight: bold;">Cash Reserve Account</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div style="font-weight: bold;">$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div style="font-weight: bold;">164,337</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>*</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Covenant Logistics Group, Inc. and State Street Bank &amp; Trust Co.</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div style="font-weight: bold;">Unitized CVTI Fund</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div style="font-weight: bold;">4,420,755</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Wells Fargo</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Wells Fargo Stable Return C</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>1,881,916</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>Wilmington Trust</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>ClearBridge Large Cap Growth R2</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>2,098,881</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>Putnam</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: rgb(204, 238, 255); border-bottom: 1px solid rgb(0, 0, 0);">
              <div>Putnam Stable Value (25)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>10,604</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>&#160;&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div style="font-weight: bold;">Collective Trust Fund Total</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div style="font-weight: bold;">3,991,401</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds Capital World Growth &amp; Income R6</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>411,032</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds EuroPacific Growth R6</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>572,734</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds 2060 Trgt Date Retire R6</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>601,291</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds 2010 Trgt Date Retire R6</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>628,520</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds 2015 Trgt Date Retire R6</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>801,258</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds 2020 Trgt Date Retire R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds 2025 Trgt Date Retire R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>8,124,633</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds 2030 Trgt Date Retire R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>8,083,264</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds 2035 Trgt Date Retire R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>4,937,712</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds 2040 Trgt Date Retire R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>4,379,493</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds 2045 Trgt Date Retire R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>4,212,281</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>American Funds 2050 Trgt Date Retire R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>2,480,279</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>American Funds 2055 Trgt Date Retire R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>2,452,654</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Delaware</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Delaware Small Cap Value R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>193,378</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>Dreyfus</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>Dreyfus/Standish Global Fixed Income Y</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>256,389</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Eaton Vance</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Eaton Vance Income Fund of Boston R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>407,233</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>Hartford</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>Hartford Midcap Y</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>770,056</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Hartford</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Hartford Schroders Emerging Markets Equity Y</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>463,809</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>JP Morgan</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>JPMorgan Mid Cap Value R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>262,355</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Metropolitan West</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Metropolitan West Total Return Bond Plan</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>666,465</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>&#160;MFS</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>MFS Value R6</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>968,177</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>T. Rowe Price</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>T. Rowe Price QM US Small-Cap Growth Equity I</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>817,474</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>Vanguard</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>Vanguard Total Bond Market Index Adm</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>408,099</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Vanguard</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Van Guard 500 Index Adm</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>2,565,020</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>Vanguard</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%;">
              <div>Vanguard Mid Cap Index Adm</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div>914,244</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Vanguard</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
              <div>Vanguard Small Cap Index Adm</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div>1,036,350</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 1px;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;" colspan="1">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; border-bottom: 1px solid rgb(0, 0, 0);">
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
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              <div>&#160;</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom; width: 38.5%; background-color: #CCEEFF;">
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
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      <div style="margin-right: 14.4pt; margin-left: 7.2pt;">&#160;&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">SIGNATURE</div>
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              <div>COVENANT TRANSPORTATION GROUP 401(k) &amp; PROFIT SHARING PLAN</div>
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              <div>&#160;</div>
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              <div>&#160;</div>
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              <div>&#160;</div>
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              <div>&#160;</div>
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              <div>&#160;</div>
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              <div>&#160;</div>
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            <td style="width: 2.87%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 36.48%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
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              <div>&#160;</div>
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            <td style="width: 3.15%; vertical-align: middle;">
              <div>&#160;</div>
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            <td style="width: 2.87%; vertical-align: middle;">
              <div>&#160;</div>
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            <td style="width: 36.48%; vertical-align: middle;">
              <div>&#160;</div>
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              <div>Dated:&#160;June 28, 2021</div>
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            <td style="width: 2.87%; vertical-align: middle; padding-bottom: 1px;">
              <div>&#160;</div>
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            <td style="width: 36.48%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
              <div>/s/ M. Paul Bunn</div>
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            <td style="width: 57.5%; vertical-align: middle;" colspan="3">
              <div>&#160;</div>
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            <td style="width: 3.15%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 2.87%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 36.48%; vertical-align: middle;">
              <div>M. Paul Bunn,</div>
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          <tr>
            <td style="width: 57.5%; vertical-align: middle;" colspan="3">
              <div>&#160;</div>
            </td>
            <td style="width: 3.15%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 2.87%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 36.48%; vertical-align: middle;">
              <div style="text-align: justify;">Executive Vice President, Chief Operating Officer, and Secretary on behalf of Covenant Transport, Inc.<br>
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            </td>
          </tr>

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      <div style="font-family: 'Times New Roman',Times,serif;">&#160;</div>
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      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;"><u>INDEX TO EXHIBITS</u></div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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            <td style="width: 12.79%; vertical-align: middle;">
              <div><u>Exhibit Number</u></div>
            </td>
            <td style="width: 3.29%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 83.93%; vertical-align: middle;">
              <div><u>Description of Exhibit</u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.79%; vertical-align: middle;">
              <div style="text-align: center;"><a href="exhibit231.htm">23.1</a></div>
            </td>
            <td style="width: 3.29%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 83.93%; vertical-align: middle;">
              <div>Consent of Independent Registered Public Accounting Firm &#8211; Coulter &amp; Justus, P.C.</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 12.79%; vertical-align: middle; text-align: center;"><a href="exhibit232.htm">23.2</a></td>
            <td rowspan="1" style="width: 3.29%; vertical-align: middle;">&#160;</td>
            <td rowspan="1" style="width: 83.93%; vertical-align: middle;">
              <div>Consent of Independent Registered Public Accounting Firm &#8211; Mauldin &amp; Jenkins, P.C.</div>
            </td>
          </tr>

      </table>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
      <div><br>
      </div>
    </div>
  </div>
</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>exhibit231.htm
<DESCRIPTION>EXHIBIT 23.1 (CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - COULTER & JUSTUS, P.C.)
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: scudder
         Document created using EDGARfilings PROfile 7.4.0.0
         Copyright 1995 - 2021 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <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;">
    <div style="text-align: right;"><font style="font-style: normal; font-weight: bold;">Exhibit 23.1</font><br>
    </div>
    <div><br>
      <div style="text-align: center;"><u>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</u></div>
      <div><br>
      </div>
      <div style="text-align: justify;">The Board of Directors</div>
      <div style="text-align: justify;">Covenant Logistics Group, Inc.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We consent to the incorporation by reference in the Registration Statement No. 333-2654 on Form S-8 of our report dated June 28, 2021, appearing in this Annual Report on Form 11-K of the Covenant Transportation Group
        401(k) &amp; Profit Sharing Plan for the year ended December 31, 2020.</div>
      <div><br>
      </div>
      <div>/s/ Coulter &amp; Justus, P.C.</div>
      <div><br>
      </div>
      <div>Knoxville, Tennessee</div>
      <div>June 28, 2021</div>
      <div> <br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><a href="form11k.htm">Back to Form 11-K</a><br>
      </div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>exhibit232.htm
<DESCRIPTION>EXHIBIT 23.2 (CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - MAULDIN & JENKINS, P.C.)
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: scudder
         Document created using EDGARfilings PROfile 7.4.0.0
         Copyright 1995 - 2021 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <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;">
    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 23.2</font><br>
    </div>
    <div style="text-align: right;">
      <div style="text-align: center; margin-bottom: 8pt;"><u>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</u></div>
      <div style="margin-bottom: 8pt;"><br>
      </div>
      <div style="text-align: justify;">We consent to the incorporation by reference in the Registration Statements on Form S-8 (No. 333-2654) of Covenant Logistics Group, Inc. of our report
        dated June 19, 2020&#160;with respect to the statement&#160;of net assets available for benefits of the Covenant Transportation Group 401(k) &amp; Profit Sharing Plan as of December 31, 2019, which report appears in the December 31, 2020 Annual Report on
        Form 11-K of Covenant Transportation Group 401(k) &amp; Profit Sharing Plan.</div>
      <div><br>
      </div>
      <div style="text-align: left;">/s/ Mauldin &amp; Jenkins, LLC</div>
      <div><br>
      </div>
      <div style="text-align: left;">Chattanooga, Tennessee</div>
      <div style="text-align: left;">June 28, 2021</div>
      <div style="text-align: left;"> <br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><a href="form11k.htm">Back to Form 11-K</a><br>
      </div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
