Covenant Logistics Group reported Compensation Committee approvals of 2026 executive incentives and base salary increases, elected directors at the annual meeting, and declared a $0.07 quarterly dividend.
Key takeaways
Compensation Committee approved 2026 Long-Term Incentive Plan awards totaling $6.825M for five named executive officers with performance and time-based vesting.
New base salaries effective July 6, 2026: James “Tripp” Grant and Dustin Koehl at $455,000; Joey Ballard at $400,000.
All nine director nominees elected at May 13, 2026 annual meeting with majority votes.
Say-on-pay advisory vote approved with 25.6M for vs. 0.5M against.
Board declared $0.07 quarterly dividend per share, payable June 26, 2026 to record June 5 holders.
Severance agreements amended for Grant, Ballard, and Koehl to standardize terms including non-compete.