Covenant Logistics Group (CVLG) has issued an announcement.
Covenant Logistics Group has recently revised the compensation of its key executives, boosting base salaries for M. Paul Bunn to $700,000 and James “Tripp” S. Grant to $425,000. Additionally, they rolled out a new 2024 Long-Term Incentive Plan, offering significant potential rewards through restricted stock units for achieving performance goals by 2027, with top executives like David R. Parker positioned to gain up to $2.5 million. Furthermore, James “Tripp” S. Grant’s bonus potential under the 2024 Executive Bonus Program has been set at 70% of his base salary, aligning executive rewards closely with the company’s long-term performance and shareholder value.
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