<SEC-DOCUMENT>0001008886-25-000200.txt : 20250627
<SEC-HEADER>0001008886-25-000200.hdr.sgml : 20250627
<ACCEPTANCE-DATETIME>20250627161722
ACCESSION NUMBER:		0001008886-25-000200
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20241231
FILED AS OF DATE:		20250627
DATE AS OF CHANGE:		20250627

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COVENANT LOGISTICS GROUP, INC.
		CENTRAL INDEX KEY:			0000928658
		STANDARD INDUSTRIAL CLASSIFICATION:	TRUCKING (NO LOCAL) [4213]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				880320154
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42192
		FILM NUMBER:		251086553

	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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<TYPE>11-K
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<DESCRIPTION>FORM 11-K
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    <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>
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    <div style="text-align: center; font-size: 12pt; font-weight: bold;">FORM 11-K</div>
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    <div style="font-size: 12pt;">(Mark One)</div>
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            <div style="font-size: 12pt; font-weight: bold;">[X]</div>
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            <div style="font-size: 12pt; font-weight: bold;">ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
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    <div style="text-indent: 27.5pt; font-size: 12pt;">For the fiscal year ended <font style="font-weight: bold;">December 31, 2024</font></div>
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    <div style="text-align: center; font-size: 12pt;">OR</div>
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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>
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    <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 1-42192</div>
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            <div style="font-size: 12pt;">A.</div>
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          <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>
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    <div><br>
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    <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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            <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>
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    <div><br>
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    <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>
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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>
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          <td style="width: 10.02%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">Page</div>
          </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;">Report of Independent Registered Public Accounting Firm</div>
          </td>
          <td style="width: 10.02%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><a href="#A">1</a></div>
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            <div>&#160;</div>
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          <td style="width: 10.02%; vertical-align: middle; text-align: right;">&#160;</td>
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            <div style="font-weight: bold;">Financial Statements</div>
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        </tr>
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          <td style="width: 89.98%; vertical-align: middle;">
            <div>Statements of Net Assets Available for Benefits as of December 31, 2024 and 2023</div>
          </td>
          <td style="width: 10.02%; vertical-align: middle;">
            <div style="text-align: right;"><a href="#B">2</a></div>
          </td>
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          <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, 2024</div>
          </td>
          <td style="width: 10.02%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><a href="#C">3</a></div>
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            <div>Notes to Financial Statements</div>
          </td>
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            <div style="text-align: right;"><a href="#D">4-9</a></div>
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            <div>&#160;</div>
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          <td style="width: 10.02%; vertical-align: middle; text-align: right; background-color: rgb(204, 238, 255);">&#160;</td>
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          <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; text-align: right;">&#160;</td>
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          <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, 2024</div>
          </td>
          <td style="width: 10.02%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><a href="#E">10</a></div>
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            <div>&#160;</div>
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          <td style="width: 10.02%; vertical-align: middle;">
            <div style="text-align: right;">&#160;</div>
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            <div style="font-weight: bold;">Exhibit</div>
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            <div style="text-align: right;">&#160;</div>
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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>
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            <div style="text-align: right;"><a href="exhibit231.htm">Exhibit 23.1</a></div>
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    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;<a name="A"><!--Anchor--></a></div>
    <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;">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="text-align: justify; font-weight: bold;">Opinion on the Financial Statements</div>
    <div><br>
    </div>
    <div style="text-align: justify;">We have audited the accompanying statements of net assets available for benefits of the Covenant Transportation Group 401(k) &amp; Profit Sharing Plan (the &#8220;Plan&#8221;) as of December 31, 2024 and 2023, the related
      statement of changes in net assets available for benefits for the year ended December 31, 2024, 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, 2024 and 2023, and the changes in net assets available for benefits for the year ended December 31, 2024, 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 audits. 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 audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits 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.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Our audits 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 audits 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 audits provide 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, 2024 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&#160;in the
      accompanying schedule, 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 in the accompanying schedule 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 27, 2025</div>
    <div>Knoxville, Tennessee</div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
  </div>
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    <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">1</font></div>
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    <div><br>
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    &#160;
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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          <td style="width: 100%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">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, 2024&#160;and 2023</div>
          </td>
        </tr>

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    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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            <div>&#160;</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 18.67%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center;">2024</div>
          </td>
          <td style="width: 4.38%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 11.93%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center;">2023</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
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          <td style="width: 63.25%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.07%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 17.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 4.38%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.08%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.86%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom;">
            <div>Assets:</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.07%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 17.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 4.38%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.08%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.86%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;&#160;Non-interest bearing cash</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 17.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">120,646</div>
          </td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 10.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">78,688</div>
          </td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom;">
            <div>&#160;&#160;Investments, at fair value</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.07%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 17.6%; vertical-align: bottom;">
            <div style="text-align: right;">76,803,589</div>
          </td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.08%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.86%; vertical-align: bottom;">
            <div style="text-align: right;">67,759,978</div>
          </td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
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        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;&#160;Notes receivable from participants</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 17.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">2,151,679</div>
          </td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 10.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">1,747,398</div>
          </td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom;">
            <div>&#160;&#160;Participants&#8217; contribution receivable</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.07%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 17.6%; vertical-align: bottom;">
            <div style="text-align: right;">159,029</div>
          </td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.08%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.86%; vertical-align: bottom;">
            <div style="text-align: right;">155,246</div>
          </td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;&#160;Company contribution receivable</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 17.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">177,526</div>
          </td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 10.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">156,230</div>
          </td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom;">
            <div>&#160;&#160;Other receivable</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.07%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;</div>
          </td>
          <td style="width: 17.6%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">5,390</div>
          </td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.08%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;</div>
          </td>
          <td style="width: 10.86%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">2,753</div>
          </td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total assets</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 17.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">79,417,859</div>
          </td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">69,900,293</div>
          </td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.58%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.07%; vertical-align: bottom;">&#160;</td>
          <td style="width: 17.6%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.6%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.08%; vertical-align: bottom;">&#160;</td>
          <td style="width: 10.86%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Liabilities:</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 17.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom;">
            <div>&#160;&#160;Excess contributions payable</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.07%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 17.6%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">137,676</div>
          </td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.6%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.08%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 10.86%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">124,155</div>
          </td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 63.25%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 17.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
          <td style="width: 63.25%; vertical-align: bottom;">
            <div>&#160;&#160;&#160;&#160;&#160;Net assets available for benefits</div>
          </td>
          <td style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.07%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div>$</div>
          </td>
          <td style="width: 17.6%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="text-align: right;">79,280,183</div>
          </td>
          <td nowrap="nowrap" style="width: 4.38%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.08%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div>$</div>
          </td>
          <td style="width: 10.86%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="text-align: right;">69,776,138</div>
          </td>
          <td nowrap="nowrap" style="width: 0.58%; vertical-align: bottom;">
            <div>&#160;</div>
          </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>
    <!--Anchor-->
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;<a name="C"><!--Anchor--></a></div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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        <tr>
          <td style="width: 100%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">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, 2024</div>
          </td>
        </tr>

    </table>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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        <tr>
          <td style="width: 80.89%; vertical-align: bottom;">
            <div>Additions:</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.94%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom;">
            <div>&#160;&#160;Investment income:</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.94%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;&#160;&#160;&#160;Interest and dividends</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,370,754</div>
          </td>
          <td nowrap="nowrap" style="width: 2.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom;">
            <div>&#160;&#160;&#160;&#160;Net appreciation in fair value of investments</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">7,885,689</div>
          </td>
          <td nowrap="nowrap" style="width: 2.94%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;&#160;&#160;&#160;&#160;&#160;Net investment gain</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">9,256,443</div>
          </td>
          <td nowrap="nowrap" style="width: 2.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.94%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;&#160;Interest on notes receivable from participants</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;157,704</div>
          </td>
          <td nowrap="nowrap" style="width: 2.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom;">
            <div>&#160;&#160;Contributions from participants</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,604,845</div>
          </td>
          <td nowrap="nowrap" style="width: 2.94%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;&#160;Rollovers from participants</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,192,156</div>
          </td>
          <td nowrap="nowrap" style="width: 2.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160; <br>
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          </td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom;">
            <div>&#160;&#160;Contributions from Company</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,924,960</div>
          </td>
          <td nowrap="nowrap" style="width: 2.94%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;&#160;&#160;&#160;&#160;&#160;Total additions</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;19,136,108</div>
          </td>
          <td nowrap="nowrap" style="width: 2.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom;">
            <div style="text-align: right;">&#160;</div>
          </td>
          <td style="width: 2.94%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Deductions:</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
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          <td style="width: 1.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
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          <td style="width: 14.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 2.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
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          <td style="width: 14.46%; vertical-align: bottom;">
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        <tr>
          <td style="width: 80.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 14.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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        <tr>
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            <div>&#160;&#160;&#160;&#160;&#160;&#160;Total deductions</div>
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          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 1.11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;</div>
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          <td style="width: 14.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">10,721,786</div>
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          <td style="width: 80.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
          <td style="width: 80.89%; vertical-align: bottom;">
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            <div>&#160;</div>
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          <td style="width: 1.11%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 14.46%; vertical-align: bottom;">
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        <tr>
          <td style="width: 80.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 2.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom;">
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          <td style="width: 0.6%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.11%; vertical-align: bottom;">&#160;</td>
          <td style="width: 14.46%; vertical-align: bottom;">
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          <td style="width: 2.94%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">&#160;</div>
          </td>
          <td style="width: 2.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
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        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom;">
            <div>Net assets available for benefits at beginning of year</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 1.11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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          </td>
          <td nowrap="nowrap" style="width: 2.94%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">&#160;</div>
          </td>
          <td style="width: 2.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
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        </tr>
        <tr>
          <td style="width: 80.89%; vertical-align: bottom;">
            <div>Net assets available for benefits at end of year</div>
          </td>
          <td style="width: 0.6%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 1.11%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
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          </td>
          <td style="width: 14.46%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="text-align: right;">79,280,183</div>
          </td>
          <td nowrap="nowrap" style="width: 2.94%; vertical-align: bottom;">
            <div>&#160;</div>
          </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>
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    <div><br>
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    <!--Anchor-->
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            <div style="font-weight: bold;">(1)<a name="D"><!--Anchor--></a></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; margin-right: 7.2pt; margin-left: 31.5pt;">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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          <td style="width: 89.81%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">Basis of Presentation</div>
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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; margin-right: 7.2pt; margin-left: 61.2pt;">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
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    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">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
      estimates and assumptions that affect the reported amounts of net assets available for benefits and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.</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;">(b)</div>
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          <td style="width: 89.81%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">Investments and Investment Income</div>
          </td>
        </tr>

    </table>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">Investments in cash, mutual funds, common stock, and the collective trust funds are stated at fair value.</div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">Realized and unrealized gains and losses are included in net appreciation&#160;in fair value of investments in the statement of changes in net assets available for benefits.
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    <div><br>
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            <div>&#160;</div>
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          <td style="width: 5.19%; vertical-align: top;">
            <div style="text-align: justify; font-style: italic; font-weight: bold;">(c)</div>
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          <td style="width: 90%; vertical-align: top;">
            <div style="text-align: justify; font-style: italic; font-weight: bold;">Notes Receivable from Participants</div>
          </td>
        </tr>

    </table>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">The Plan records participant loans as notes receivable from participants. They are valued at the unpaid principal balances plus accrued interest. Delinquent notes receivable
      from participants are reclassified as distributions based upon the terms of the plan document.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">Interest income is recorded on the accrual basis.&#160;Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses
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    <div><br>
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            <div>&#160;</div>
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          <td style="width: 5.19%; vertical-align: top;">
            <div style="text-align: justify; font-style: italic; font-weight: bold;">(d)</div>
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    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">Plan management has evaluated events and transactions that occurred between December 31, 2024&#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><br>
    </div>
    <!--Anchor-->
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
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    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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            <div style="font-weight: bold;">Description of the Plan</div>
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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; margin-right: 7.2pt; margin-left: 34.2pt;">The following description of the Plan provides only general information. Participants should refer to the plan document for a more complete description of the Plan&#8217;s
      provisions.</div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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            <div>&#160;</div>
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          <td style="width: 5%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">(a)</div>
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          <td style="width: 89.81%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">General</div>
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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; margin-right: 7.2pt; margin-left: 61.2pt;">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 provides for retirement savings to qualified active participants through both participant and Company contributions and is subject to certain provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Employees are eligible to
      participate in the Plan at the beginning of a calendar month after the completion of six months of service. The Plan does not include auto enrollment.</div>
    <div><br>
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    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">Effective April 1, 2024, the Lew Thompson &amp; Son Trucking 401(k) Plan was merged into the Plan. As a result, assets totaling $1,089,723 were transferred into the Plan.</div>
    <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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          <td style="width: 5%; vertical-align: top;">
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          </td>
          <td style="width: 89.81%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">Contributions</div>
          </td>
        </tr>

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    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">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
      their annual compensation subject to the limitations of the Internal Revenue Code (IRC) Section&#160;415(c)(3). The Company may make discretionary matching contributions to the Plan not to exceed 6% of each participant&#8217;s compensation and may make other
      types of discretionary contributions. Annual additions to a participant&#8217;s account during any plan year, when combined with the total annual additions to the accounts of the participant under any other qualified defined contribution plan maintained by
      the Company, cannot exceed certain levels established under IRC Section&#160;402(g). The Company made matching contributions equal to&#160;50% of each participant&#8217;s contribution up to&#160;5%&#160;of the participant&#8217;s cash compensation during 2024.</div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zf014b62645684fd7bf794c223c9e9151" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">(c)</div>
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          <td style="width: 89.81%; 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 style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">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, 2024, 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; margin-right: 7.2pt; margin-left: 61.2pt;">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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          </td>
          <td style="width: 5.19%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">(d)</div>
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          <td style="width: 89.81%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">Notes Receivable from Participants</div>
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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; margin-right: 7.2pt; margin-left: 61.2pt;">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 at the time of loan issuance plus 1% and is fixed over the life of the loan. Individuals with loans may choose to continue to participate in the Plan.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 7.2pt;">&#160;</div>
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    <div><br>
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    <div><br>
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          <td style="width: 89.81%; vertical-align: top;">
            <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; margin-right: 7.2pt; margin-left: 61.2pt;">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
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    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;"> <br>
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    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">Benefits are recorded when paid.</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: justify; margin-right: 7.2pt; margin-left: 61.2pt;">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; years old. Hardship withdrawals are limited to the participant&#8217;s elective account balance.</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;">Vesting</div>
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    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">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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          <td style="width: 89.81%; vertical-align: top;">
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    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">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 pay plan expenses or to reduce subsequent Company contributions to the Plan. Participants forfeited&#160;$304,990&#160;during 2024. During 2024, $290,866 was utilized to reduce Company contributions.
      Forfeitures of&#160;$81,103 and&#160;$63,671&#160;were unallocated at December 31,&#160;2024 and 2023, respectively.</div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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        <tr>
          <td style="width: 5.19%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">(i)</div>
          </td>
          <td style="width: 89.81%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">Excess Contributions Payable</div>
          </td>
        </tr>

    </table>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">Amounts payable to participants totaling $137,676 and $124,155 at December 31, 2024 and 2023, respectively, 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 2024 and 2023 excess contributions to the applicable participants prior to March 15, 2025 and 2024, respectively.</div>
    <div><br>
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        <tr>
          <td style="width: 5.19%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">(j)</div>
          </td>
          <td style="width: 89.81%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">Administrative Expenses</div>
          </td>
        </tr>

    </table>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">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 expenses.</div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
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        <tr>
          <td style="width: 5.19%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold;">(k)</div>
          </td>
          <td style="width: 89.81%; 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="text-align: justify; margin-right: 7.2pt; margin-left: 61.2pt;">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>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
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    <div><br>
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        <tr>
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            <div style="font-weight: bold;">Transactions with Parties-In-Interest</div>
          </td>
        </tr>

    </table>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">At December 31, 2024 and 2023, the Plan held investments in bank accounts, collective trust funds, and money market accounts sponsored by the Trustee or affiliated entities
      with fair values totaling $201,749 and&#160;$142,359,&#160;respectively. The Plan also held shares of the Unitized CVTI Fund that includes Covenant Logistics Group, Inc. common stock with fair values of&#160;$4,713,974&#160;and&#160;$4,225,699&#160;at December 31,&#160;2024 and 2023,
      respectively. The Plan also held notes receivables from participants with interest rates ranging from&#160;4.25% to&#160;9.50% with a fair value of $2,151,679 and $1,747,398 as of December 31, 2024 and 2023, respectively. All administrative fees of the Plan
      were paid to parties-in-interest.</div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">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>
    <table cellspacing="0" cellpadding="0" id="ze183a4a1cb0e4e569fdfe9c77f72c747" 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: top;">
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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: -0.35pt; margin-right: 7.2pt; margin-left: 34.55pt;">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>
    <table cellspacing="0" cellpadding="0" border="0" id="zd6aca3cdb7e04cebb95769b0b5a36ec2" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <div style="text-align: justify; margin-right: 7.2pt;">Level 1</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: right;">-</div>
          </td>
          <td style="width: 83%; 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>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 83%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 7.2pt;">Level 2</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: right;">-&#160;</div>
          </td>
          <td style="width: 83%; 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 colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 83%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: right;">-&#160;</div>
          </td>
          <td style="width: 83%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 7.2pt;">Quoted prices for similar assets or liabilities in active markets;</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 83%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: right;">-&#160;</div>
          </td>
          <td style="width: 83%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 7.2pt;">Quoted prices for identical or similar assets or liabilities in inactive markets;</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 83%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: right;">-&#160;</div>
          </td>
          <td style="width: 83%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 7.2pt;">Inputs other than quoted prices that are observable for the asset or liability; and</div>
          </td>
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          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 83%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: right;">-&#160;</div>
          </td>
          <td style="width: 83%; 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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        <tr>
          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 83%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: right;">-&#160;</div>
          </td>
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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 colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 83%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 7.2pt;">Level 3</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: right;">-&#160;</div>
          </td>
          <td style="width: 83%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 7.2pt;">Inputs to the valuation methodology are unobservable and significant to the fair value measurement.</div>
          </td>
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    <div><br>
    </div>
    <div style="margin-right: 7.2pt; margin-left: 36pt;">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-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">7</font></div>
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    </div>
    <div><br>
    </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;2024 and 2023.</div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="ze4c1259150ca42db9f7f8b352930ea15" 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>
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          <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" id="z254d23ca0df64573b6320d3f8dcabbd2" 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: 8.59%; vertical-align: top;">
            <div style="text-align: justify;">(ii)</div>
          </td>
          <td style="width: 86.25%; 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" id="z01b9893cfd2144149a8e63adb60fe5e2" 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: 8.59%; vertical-align: top;">
            <div style="text-align: justify;">(iii)</div>
          </td>
          <td style="width: 86.25%; 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 $25.22&#160;and&#160;$21.51&#160;on December 31, 2024 and 2023, respectively.</div>
          </td>
        </tr>

    </table>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">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><br>
    </div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">The following tables set forth by level, within the fair value hierarchy, the Plan&#8217;s assets at fair value as of December 31, 2024 and 2023:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="ze4f4c39ff4a04886bd5d09c37bb63116" 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, 2024</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z4add06b024c24392bccebc9d01ad928e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 52%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.02%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center; font-weight: bold;">Total</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.02%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center; font-weight: bold;">Level 1</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.02%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center; font-weight: bold;">Level 2</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.03%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center; font-weight: bold;">Level 3</div>
          </td>
          <td style="width: 0.92%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Cash</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">81,103</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">81,103</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 0.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom;">
            <div>Mutual funds</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: right;">60,604,761</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: right;">60,604,761</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 0.92%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Unitized CVTI fund</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">4,713,974</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">4,713,974</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 0.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom;">
            <div>Total assets in the fair value hierarchy</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: right;">65,399,838</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="text-align: right;">60,685,864</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="text-align: right;">4,713,974</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 0.92%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Investments measured at NAV as a practical expedient (a)</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">11,403,751</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 0.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom;">
            <div>Total investments at fair value</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="text-align: right;">76,803,589</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 0.92%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zab7ae1046df2463a84d57621caea8d0e" 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, 2023</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z48944f48451140c99fafe4e6ab6ec15f" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 52%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.02%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center; font-weight: bold;">Total</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.02%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center; font-weight: bold;">Level 1</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.02%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center; font-weight: bold;">Level 2</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.03%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center; font-weight: bold;">Level 3</div>
          </td>
          <td style="width: 0.92%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Cash</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">63,671</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">63,671</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 0.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom;">
            <div>Mutual funds</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: right;">56,077,805</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: right;">56,077,805</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 0.92%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Unitized CVTI fund</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">4,225,699</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">4,225,699</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 0.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom;">
            <div>Total assets in the fair value hierarchy</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: right;">60,367,175</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="text-align: right;">56,141,476</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="text-align: right;">4,225,699</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="text-align: right;">-</div>
          </td>
          <td nowrap="nowrap" style="width: 0.92%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Investments measured at NAV as a practical expedient (a)</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">7,392,803</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 0.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52%; vertical-align: bottom;">
            <div>Total investments at fair value</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div>$</div>
          </td>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="text-align: right;">67,759,978</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.03%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 9%; vertical-align: bottom;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 0.92%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zae348307017244feb234c40be54fbc18" 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 class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">8</font></div>
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    </div>
    <div><br>
    </div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">The following table summarizes investments for which the fair value is measured using the NAV per share practical expedient as of December 31, 2024 and 2023, respectively.</div>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z64a1b5a77ce84d5b8ae1046b047efb07" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 11.99%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Description</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
          </td>
          <td style="width: 15.01%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center;">Fair Value December 31, 2024</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
          </td>
          <td style="width: 15.02%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center;">Fair Value December 31, 2023</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center;">Unfunded Commitments</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
          </td>
          <td style="width: 22%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;">Redemption Frequency (if Currently Eligible)</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;">Redemption Notice Period</div>
          </td>
        </tr>
        <tr>
          <td style="width: 11.99%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Collective Trust Fund</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 13.99%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">11,403,751</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">7,392,803</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">N/A</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">Daily</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; 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>
    <table cellspacing="0" cellpadding="0" id="z26d20d7009454d0ea7a28bd1e99d8693" 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: top;">
            <div style="font-weight: bold;">(5)</div>
          </td>
          <td style="width: 95%; 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="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">The Company adopted a volume submitter plan, which received a favorable opinion letter from the IRS on June 30, 2020, 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>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">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, 2024 and 2023, 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>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z0081b83253a94bc3a0b05c66ecdcea78" 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: top;">
            <div style="font-weight: bold;">(6)</div>
          </td>
          <td style="width: 95%; vertical-align: top;">
            <div style="font-weight: bold;">Risks and Uncertainties</div>
          </td>
        </tr>

    </table>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">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>
    <div style="margin-right: 7.2pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z4b2238d7d0c54977a1e6e18317ec11a2" 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: top;">
            <div style="font-weight: bold;">(7)</div>
          </td>
          <td style="width: 95%; vertical-align: top;">
            <div style="font-weight: bold;">Subsequent Events</div>
          </td>
        </tr>

    </table>
    <div style="margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 34.2pt;">Plan management has evaluated the effects of events that have occurred subsequent to December 31, 2024 through the issuance of these financial statements and have identified no
      subsequent events which require reporting or disclosure in these financial statements.</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">9</font></div>
      <div class="BRPFPageBreak" 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;<a name="E"><!--Anchor--></a></div>
    <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z4ac2ed6887e8448fa67399809ecc7d14" 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;">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; font-weight: bold;">EIN 88-0320154 Plan No. 001</div>
          </td>
        </tr>
        <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>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">December&#160;31, 2024</div>
          </td>
        </tr>

    </table>
    <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z1383ebca273448e0ad71fd0bf3ad7541" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 5.63%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">(a)</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">(b)<br>
              Identity of Issuer, Borrower, Lessor or Similar Party</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <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 style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
            <div style="text-align: center; font-weight: bold;">(e)<br>
              Current Value</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;">*</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>State Street Bank &amp; Trust Co.</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;">Cash Reserve Account</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;">$&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-weight: bold;">201,749</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 42.69%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.68%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.68%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>*</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Covenant</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;">Covenant Stock Fund</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-weight: bold;">4,713,974</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 42.69%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.68%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>BNY Mellon</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>BNYM Mellon SL Mid Cap Stock Index Instl</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">1,351,108</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>BNY Mellon</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>BNYM Mellon SL Small Cap 600 Stock Index Instl</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">1,219,422</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Legg Mason</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>ClearBridge Lg Cap Gr R2</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">2,711,384</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>Putnam</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>Putnam Stable Val</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">3,806,767</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>SEI</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Congress Mid Cap Gr</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">456,132</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>SEI</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>Schroeder Intl Alpha Trust H1</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">507,283</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>*</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>State Street</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>State Street U.S. Bd Idx Cl XIV</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">453,803</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">
            <div>*</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>State Street</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>State St GI All cp Ex US Idx Cl II</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">579,487</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Wilmington Trust</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Federated Hermes Total Return Bond Class MS</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">318,365</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div style="font-weight: bold;">Collective Trust Fund Total</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div style="font-weight: bold;">&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right; font-weight: bold;">11,403,751</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>American Funds</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>American Funds Capital World G/I R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">785,174</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds 2060 Trgt Date Retire R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">2,472,818</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>American Funds</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>American Funds 2010 Trgt Date Retire R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">440,030</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds 2015 Trgt Date Retire R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">482,235</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>American Funds</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>American Funds 2020 Trgt Date Retire R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">1,805,374</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds 2025 Trgt Date Retire R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">6,508,574</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>American Funds</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>American Funds 2030 Trgt Date Retire R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">9,607,110</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds 2035 Trgt Date Retire R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">7,016,733</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>American Funds</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>American Funds 2040 Trgt Date Retire R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">6,568,935</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds 2045 Trgt Date Retire R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">6,749,963</div>
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          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
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        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>American Funds</div>
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          <td style="width: 42.69%; vertical-align: bottom;">
            <div>American Funds 2050 Trgt Date Retire R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">4,432,189</div>
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          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>American Funds 2055 Trgt Date Retire R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">4,178,717</div>
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          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>BNY Mellon</div>
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          <td style="width: 42.69%; vertical-align: bottom;">
            <div>BNY Mellon Glbl Fixed Inc Y</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">167,892</div>
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          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">&#160;</td>
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        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Delaware</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Delaware Small Cap Val R6</div>
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          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">323,081</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>Fidelity</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>Fidelity 500 Index</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">5,333,503</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">&#160;</td>
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        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Hartford</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Hartford Schroders Emerg Mkt Eq Y</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">343,739</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>JPMorgan</div>
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          <td style="width: 42.69%; vertical-align: bottom;">
            <div>JPMorgan Mid Cap Val R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">542,880</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>MFS</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>MFS Val R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">1,174,744</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>Prudential</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>PGIM High Yield R6</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.48%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">631,167</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div>T. Rowe Price</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>T. Rowe Price QM US Sm-cp Gr Eq I</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">1,039,903</div>
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          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div style="font-weight: bold;">Mutual Funds Total</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div style="font-weight: bold;">&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right; font-weight: bold;">60,604,761</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
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        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom;">
            <div style="text-align: right;">&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>*</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>Participant loans</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;">Notes Receivable with interest rates of 4.25% to 9.50%</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;">&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold; text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,151,679</div>
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          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.68%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 0.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 34.67%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 42.69%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          </td>
          <td style="width: 0.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 1.48%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 13.52%; vertical-align: bottom; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-weight: bold;">79,075,914</div>
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            <div>&#160;</div>
          </td>
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    <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;">&#160;</div>
    <div style="margin-right: 14.4pt; margin-left: 7.2pt;">*Indicates Party-In-Interest to the Plan.</div>
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      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">10</font></div>
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        <tr>
          <td style="width: 33%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 23.47%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 43.53%; vertical-align: middle;" colspan="4">
            <div>COVENANT TRANSPORTATION GROUP 401(K) &amp; PROFIT SHARING PLAN</div>
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        <tr>
          <td style="width: 33%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 23.47%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 43.53%; vertical-align: middle;" colspan="4">
            <div>&#160;</div>
          </td>
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        <tr>
          <td style="width: 57.5%; vertical-align: middle;" colspan="3">
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          </td>
          <td style="width: 3.15%; vertical-align: middle;">
            <div>By:</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>Covenant Transport, LLC,</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;">
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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>&#160;</div>
          </td>
        </tr>
        <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>&#160;</div>
          </td>
        </tr>
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            <div>Dated:&#160;June 27, 2025</div>
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          <td style="width: 3.15%; vertical-align: middle;">
            <div>By:</div>
          </td>
          <td style="width: 2.87%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 36.48%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div>/s/ M. Paul Bunn</div>
          </td>
        </tr>
        <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>M. Paul Bunn,</div>
          </td>
        </tr>
        <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>
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    <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt;"><u>INDEX TO EXHIBITS</u></div>
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            <div>Consent of Independent Registered Public Accounting Firm &#8211; Coulter &amp; Justus, P.C.</div>
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<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>exhibit231.htm
<DESCRIPTION>EXHIBIT 23.1
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  <div style="text-align: right;">Exhibit 23.1<br>
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    <div style="text-align: center;"><u>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</u></div>
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    <div>The Board of Directors</div>
    <div>Covenant Logistics Group, Inc.</div>
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    <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 <font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">June 27, 2025</font>, 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,
      2024.</div>
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    <div>/s/ Coulter &amp; Justus, P.C.</div>
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    <div>Knoxville, Tennessee</div>
    <div style="font-family: 'Times New Roman',Times,serif;">June 27, 2025
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