Companies Covenant Logistics Group, Inc
Covenant Logistics (CLGT): executive pay, fiscal 2025
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CEO vs. named peers27th pct.Of 15 peer CEOs
CEO pay, last three years
- $1,381,818FY2023
- $2,039,597FY2024
- $1,794,678FY2025
CEO total pay was $1,794,678 in fiscal 2025, down from $2,039,597 in fiscal 2024.
FY2025: salary $753,021 · bonus $666,666 · stock awards $0 · option awards $0
Frequently asked questions
Who was the highest-paid executive at Covenant Logistics Group, Inc in fiscal 2025?
As disclosed, David Parker (CEO and Chairman of the Board) was the highest-paid executive at Covenant Logistics Group, Inc in fiscal 2025, with total compensation of $1,794,678.
How does Covenant Logistics Group, Inc's chief executive pay compare to its disclosed peer group?
As disclosed, David Parker's total compensation ranked at the 27th percentile of Covenant Logistics Group, Inc's disclosed peer group.
What is Covenant Logistics Group, Inc's CEO-to-median employee pay ratio?
As disclosed, Covenant Logistics Group, Inc's CEO-to-median employee pay ratio was 27.8:1.
How much does Covenant Logistics Group, Inc spend in total on board compensation for fiscal 2025?
As disclosed, Covenant Logistics Group, Inc reported total board compensation of $1,478,303 for fiscal 2025.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| David Parker | $753,021 | $666,666 | $0 | $0 | $100,000 | $0 | $274,991 | $1,794,678 |
| CEO and Chairman of the Board | ||||||||
| M. Paul Bunn | 654,901 | 0 | 1,000,001 | 0 | 0 | 0 | 13,744 | 1,668,646 |
| President | ||||||||
| Tripp Grant | 425,069 | 0 | 500,001 | 0 | 0 | 0 | 16,928 | 941,998 |
| EVP and CFO | ||||||||
| Dustin Koehl | 425,006 | 0 | 450,005 | 0 | 0 | 0 | 3,908 | 878,919 |
| EVP and COO | ||||||||
| Joey Ballard | 360,069 | 0 | 400,010 | 0 | 25,000 | 0 | 16,928 | 802,007 |
| EVP and CPSO | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| David Parker | $1,794,678 | $2,039,597 | $1,381,818 | ↓ −244,919 |
| M. Paul Bunn | 1,668,646 | 2,270,970 | 1,802,743 | ↓ −602,324 |
| Tripp Grant | 941,998 | 1,210,612 | 935,120 | ↓ −268,614 |
| Dustin Koehl | 878,919 | 906,307 | — | ↓ −27,388 |
| Joey Ballard | 802,007 | 879,811 | — | ↓ −77,804 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Company seeks to attract, motivate, and retain executive officers who create long-term value for stockholders by using a mix of compensation that aligns executives' interests with corporate strategies and stockholder performance. The program is weighted heavily toward incentive and equity-based compensation to ensure a substantial part of the package is at risk and linked to financial performance and stock price appreciation.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Pearl Meyer |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Joey Ballard | PSU | 2025-05-14 | 2,170 | 8,678 | — | 17,356 | $200,028 |
| Joey Ballard | RSU | 2025-05-14 | — | — | 8,676 | — | 199,982 |
| M. Paul Bunn | PSU | 2025-05-14 | 5,424 | 21,694 | — | 43,388 | 500,047 |
| M. Paul Bunn | RSU | 2025-05-14 | — | — | 21,690 | — | 499,954 |
| Tripp Grant | PSU | 2025-05-14 | 2,712 | 10,847 | — | 21,694 | 250,023 |
| Tripp Grant | RSU | 2025-05-14 | — | — | 10,845 | — | 249,978 |
| Dustin Koehl | PSU | 2025-05-14 | 2,441 | 9,762 | — | 19,524 | 225,014 |
| Dustin Koehl | RSU | 2025-05-14 | — | — | 9,761 | — | 224,991 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Joey Ballard | $199,982 | $200,028 | $0 | 50.0% |
| M. Paul Bunn | 499,954 | 500,047 | 0 | 50.0% |
| Tripp Grant | 249,978 | 250,023 | 0 | 50.0% |
| Dustin Koehl | 224,991 | 225,014 | 0 | 50.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Joey Ballard | PSU | 1,587 | — | $34,977 |
| Dustin Koehl | PSU | 2,115 | — | 46,615 |
| Joey Ballard | PSU | 2,170 | — | 47,827 |
| Dustin Koehl | PSU | 2,441 | — | 53,800 |
| Tripp Grant | RSU | 2,584 | — | 56,951 |
| Tripp Grant | PSU | 2,584 | — | 56,951 |
| Joey Ballard | PSU | 2,584 | — | 56,951 |
| Tripp Grant | PSU | 2,644 | — | 58,274 |
| Tripp Grant | PSU | 2,712 | — | 59,772 |
| Tripp Grant | PSU | 2,758 | — | 60,786 |
| Joey Ballard | PSU | 2,758 | — | 60,786 |
| Tripp Grant | PSU | 3,230 | — | 71,189 |
| Joey Ballard | RSU | 4,228 | — | 93,185 |
| M. Paul Bunn | RSU | 5,166 | — | 113,859 |
| M. Paul Bunn | PSU | 5,168 | — | 113,903 |
| M. Paul Bunn | PSU | 5,288 | — | 116,548 |
| M. Paul Bunn | PSU | 5,424 | — | 119,545 |
| Dustin Koehl | RSU | 5,640 | — | 124,306 |
| Tripp Grant | RSU | 7,050 | — | 155,382 |
| M. Paul Bunn | PSU | 7,750 | — | 170,810 |
| Joey Ballard | RSU | 8,676 | — | 191,219 |
| Dustin Koehl | RSU | 9,761 | — | 215,132 |
| Tripp Grant | RSU | 10,845 | — | 239,024 |
| M. Paul Bunn | RSU | 14,100 | — | 310,764 |
| M. Paul Bunn | RSU | 21,690 | — | 478,048 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| W. Miller WelbornIndependent · Lead Independent Director · Compensation (Chair) · Audit | $115,000 | $99,991 | — | — | — | $214,991 |
| D. Michael KramerIndependent · Audit (Chair) · Compensation | 95,000 | 99,991 | — | — | — | 194,991 |
| Bradley A. MolineIndependent · Audit · Nominating (Chair) | 87,500 | 99,991 | — | — | — | 187,491 |
| Herbert J. SchmidtIndependent · Compensation | 80,292 | 99,991 | — | — | — | 180,283 |
| Dr. Benjamin S. Carson SrIndependent · Nominating | 79,361 | 99,991 | — | — | — | 179,352 |
| Tracy RosserIndependent · Nominating | 77,500 | 99,991 | — | — | — | 177,491 |
| Rachel Parker-Hatchett | 71,861 | 99,991 | — | — | — | 171,852 |
| Joey Hogan | 71,861 | 99,991 | — | — | — | 171,852 |
Board fee structure and ownership guideline
| Annual cash retainer | $70,000 |
|---|---|
| Annual equity retainer | $100,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 17,500 / 12,500 / 10,000 |
| Stock ownership guideline | $350,000 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $678,375 |
| Equity awards (grant-date value) | $799,928 |
| All other compensation | $0 |
| Total cost of the board | $1,478,303 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Covenant Logistics as a peer
Companies that benchmark against CLGT
1 company names CLGT as a compensation peer
- WERNER ENTERPRISES INCWERNFY2025
Each company listed discloses CLGT in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named CLGT in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
ARCB ArcBest CorporationJBI Janus International Group, Inc.PAMT PAMT Corp.ASTE Astec Industries, Inc.KEX Kirby CorporationRLGT Radiant Logistics, Inc.FWRD Forward Air CorporationMRTN Marten Transport, Ltd.SAIA Saia, Inc.HUBG Hub Group, Inc.MLR Miller Industries, Inc.WNC Wabash National CorporationIIIN Insteel Industries, Inc.NNBR NN, Inc.WERN Werner Enterprises, Inc.
Peer reciprocity
The companies Covenant Logistics Group, Inc names as compensation peers that name it back in their own disclosed peer groups.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Kirby Corporation | 2025 | David Grzebinski | $1,091,754 | $2,250,127 | $0 | $3,349,255 | $6,735,134 |
| 2 | Saia, Inc. | 2025 | Frederick Holzgrefe | 980,000 | 5,176,716 | 0 | 0 | 6,312,241 |
| 3 | Werner Enterprises, Inc. | 2025 | Derek Leathers | 974,077 | 4,200,000 | 0 | 745,106 | 6,048,549 |
| 4 | Wabash National Corporation | 2025 | Brent Yeagy | 1,116,923 | 4,315,589 | 0 | 205,827 | 5,717,526 |
| 5 | Forward Air Corporation | 2025 | Shawn Stewart | 900,000 | 4,037,990 | 0 | 617,400 | 5,561,309 |
| 6 | Miller Industries, Inc. | 2025 | William Miller II | 827,424 | 2,556,840 | 0 | 1,304,658 | 4,748,987 |
| 7 | Janus International Group, Inc. | 2025 | Ramey Jackson | 895,000 | 2,490,985 | 0 | 805,500 | 4,198,985 |
| 8 | Astec Industries, Inc. | 2025 | Jaco van der Merwe | 836,539 | 2,244,370 | 0 | 779,455 | 4,030,731 |
| 9 | Hub Group, Inc. | 2024 | Phillip Yeager | 850,000 | 2,400,342 | — | 552,500 | 3,964,450 |
| 10 | Insteel Industries, Inc. | 2025 | H.o. Woltz III | 750,000 | 562,506 | 562,489 | 1,500,000 | 3,447,259 |
| 11 | Pamt Corp. | 2025 | Lance Stewart | 440,590 | 1,537,000 | 0 | 0 | 2,127,590 |
| 12 | Covenant Logistics Group, Inc | 2025 | David Parker | 753,021 | 0 | 0 | 100,000 | 1,794,678 |
| 13 | Radiant Logistics, Inc. | 2026 | Bohn Crain | 476,827 | 932,672 | 0 | 140,324 | 1,592,033 |
| 14 | Marten Transport, Ltd. | 2025 | Timothy Kohl | 553,863 | 314,902 | 0 | 0 | 1,497,969 |
| 15 | NN, Inc. | 2025 | Harold Bevis | 835,000 | 0 | 0 | 556,659 | 1,405,746 |
| 16 | ArcBest Corporation | 2025 | Seth Runser | 575,000 | 390,254 | 0 | 201,988 | 1,234,403 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Covenant Logistics Group, Inc | not disclosed | RSU 50 · PRSU 50 | not disclosed | Pearl Meyer |
| ArcBest Corporation | not disclosed | C-LTIP 60 · RSU 40 | not disclosed | Meridian Compensation Partners, LLC |
| Astec Industries, Inc. | not disclosed | PSU 65 · RSU 35 | not disclosed | Frederic W. Cook & Co., Inc. |
| Forward Air Corporation | 68% | PSU 60 · RSU 40 | Yes — Total Stockholder Return (TSR) | Meridian Compensation Partners, LLC |
| Hub Group, Inc. | not disclosed | RSU 50 · PRSU 50 | No | Aon |
| Insteel Industries, Inc. | not disclosed | not disclosed | not disclosed | Pearl Meyer |
| Janus International Group, Inc. | not disclosed | PSU 50 · RSU 50 | not disclosed | Mercer |
| Kirby Corporation | not disclosed | RSU 100 | not disclosed | Meridian Compensation Partners |
| Marten Transport, Ltd. | not disclosed | not disclosed | not disclosed | Grant Thornton LLP |
| Miller Industries, Inc. | not disclosed | RSU 100 | not disclosed | Alvarez & Marsal Tax, LLC |
| NN, Inc. | not disclosed | PSU 66.7 · RSU 33.3 | not disclosed | Meridian Compensation Partners, LLC |
| Pamt Corp. | not disclosed | RSU 100 | not disclosed | not disclosed |
| Radiant Logistics, Inc. | not disclosed | PSU 75 · RSU 25 | No | Meridian Compensation Partners |
| Saia, Inc. | not disclosed | PSU 50 · Restricted Stock 50 | not disclosed | Mercer |
| Wabash National Corporation | not disclosed | RSU 50 · PSU 50 | not disclosed | Frederic W. Cook & Co., Inc. |
| Werner Enterprises, Inc. | not disclosed | not disclosed | not disclosed | Frederic W. Cook & Co. |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
CEO pay ratio
| Ratio (CEO : median employee) | 27.8 : 1 |
|---|---|
| CEO total compensation | $1,794,678 |
| Median employee compensation | $64,558 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (42 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, David Parker. DEF 14A, filed 2026-04-10. Section “Summary Compensation Table” · page 31. As printed: 1,794,678. View filing ↗
- Section 01, M. Paul Bunn. DEF 14A, filed 2026-04-10. Section “Summary Compensation Table” · page 31. As printed: 1,668,646. View filing ↗
- Section 01, Tripp Grant. DEF 14A, filed 2026-04-10. Section “Summary Compensation Table” · page 31. As printed: 941,998. View filing ↗
- Section 01, Dustin Koehl. DEF 14A, filed 2026-04-10. Section “Summary Compensation Table” · page 31. As printed: 878,919. View filing ↗
- Section 01, Joey Ballard. DEF 14A, filed 2026-04-10. Section “Summary Compensation Table” · page 31. As printed: 802,007. View filing ↗
- Section 03, Joey Ballard PSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Joey Ballard RSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, M. Paul Bunn PSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, M. Paul Bunn RSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Tripp Grant PSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Tripp Grant RSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Dustin Koehl PSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Dustin Koehl RSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-10. Section “CEO Pay Ratio”. As printed: 27.8 : 1. View filing ↗
- Section 08, W. Miller Welborn. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 214,991. View filing ↗
- Section 08, D. Michael Kramer. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 194,991. View filing ↗
- Section 08, Bradley A. Moline. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 187,491. View filing ↗
- Section 08, Herbert J. Schmidt. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 180,283. View filing ↗
- Section 08, Dr. Benjamin S. Carson Sr. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 179,352. View filing ↗
- Section 08, Tracy Rosser. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 177,491. View filing ↗
- Section 08, Rachel Parker-Hatchett. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 171,852. View filing ↗
- Section 08, Joey Hogan. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 171,852. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 678,375 + equity 799,928 + all other 0 = 1,478,303, summed across the director compensation table rows.
- Kirby Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-06. CEO total compensation as printed in Kirby Corporation's own proxy. As printed: 6,735,134. View filing ↗
- Saia, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-16. CEO total compensation as printed in Saia, Inc.'s own proxy. As printed: 6,312,241. View filing ↗
- Werner Enterprises, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Werner Enterprises, Inc.'s own proxy. As printed: 6,048,549. View filing ↗
- Wabash National Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Wabash National Corporation's own proxy. As printed: 5,717,526. View filing ↗
- Forward Air Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Forward Air Corporation's own proxy. As printed: 5,561,309. View filing ↗
- Miller Industries, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in Miller Industries, Inc.'s own proxy. As printed: 4,748,987. View filing ↗
- Janus International Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Janus International Group, Inc.'s own proxy. As printed: 4,198,985. View filing ↗
- Astec Industries, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in Astec Industries, Inc.'s own proxy. As printed: 4,030,731. View filing ↗
- Hub Group, Inc., Section 10b CEO total. DEF 14A, filed 2025-04-03. CEO total compensation as printed in Hub Group, Inc.'s own proxy. As printed: 3,964,450. View filing ↗
- Insteel Industries, Inc., Section 10b CEO total. DEF 14A, filed 2026-01-02. CEO total compensation as printed in Insteel Industries, Inc.'s own proxy. As printed: 3,447,259. View filing ↗
- Pamt Corp., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Pamt Corp.'s own proxy. As printed: 2,127,590. View filing ↗
- Covenant Logistics Group, Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Covenant Logistics Group, Inc's own proxy. As printed: 1,794,678. View filing ↗
- Radiant Logistics, Inc., Section 10b CEO total. DEF 14A, filed 2026-10-09. CEO total compensation as printed in Radiant Logistics, Inc.'s own proxy. As printed: 1,592,033. View filing ↗
- Marten Transport, Ltd., Section 10b CEO total. DEF 14A, filed 2026-03-17. CEO total compensation as printed in Marten Transport, Ltd.'s own proxy. As printed: 1,497,969. View filing ↗
- NN, Inc., Section 10b CEO total. DEFR 14A, filed 2026-04-06. CEO total compensation as printed in NN, Inc.'s own proxy. As printed: 1,405,746. View filing ↗
- ArcBest Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in ArcBest Corporation's own proxy. As printed: 1,234,403. View filing ↗
- Section 10a, Werner Enterprises, Inc. reciprocity. DEF 14A. Werner Enterprises, Inc. names Covenant Logistics Group, Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗