COVENANT LOGISTICS GROUP, INC. : การเปลี่ยนแปลงกรรมการหรือเจ้าหน้าที่หลัก (แบบฟอร์ม 8-K)
ข้อ 5.02 การจากไปของกรรมการหรือเจ้าหน้าที่บางคน การเลือกตั้งกรรมการ
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On
December 5, 2022, the Compensation Committee (the "Committee") of the Board of Directors (the "Board") of Covenant Logistics Group, Inc., a Nevadacorporation (the "Company"), approved new annualized base salaries for certain of the Company's named executive officers as follows:
M. Paul Bunn $500,000 Joey Hogan $250,000 Lynn Doster $365,000The salary changes for Mr. Bunnand Ms. Dosterwill be effective January 1, 2023and were approved by the Committee in connection with their recent promotions and increased responsibility within the Company. The salary change for Mr. Hoganwill be effective July 1, 2023and was made connection with his transition to a new role in 2023 as Executive Vice President focused on strategic planning, mentoring the leadership team, government relations, and other special projects. On December 5, 2022, the Committee also approved the 2023 cash short-term incentive plan for David Parker, M. Paul Bunn, Joey Hogan, James Grant, Samuel Hough, and Lynn Doster(the "2023 Executive Bonus Program"). Under the 2023 Executive Bonus Program, the bonus targets, expressed as a percentage of year-end annualized base salary, are as follows:
David Parker100.0% M. Paul Bunn100.0% Joey Hogan50.0%* James Grant60.0% Samuel Hough55.0% Lynn Doster55.0% * Mr. Hogan'sbonus target will be 100.0% of his base salary for the first half of 2023 and then will decrease to 50.0% of his base salary for the second half of the 2023. Under the 2023 Executive Bonus Program, Messrs. Parker, Hogan, Bunn, and Grant are eligible to earn up to 150% of their bonus target upon the attainment of certain consolidated adjusted earnings per share goals and up to 25% of their bonus target upon the attainment of certain strategic projects relating to equipment, driver retention, and information technology. Mr. Houghand Ms. Dosterare eligible to earn up to 100% of their bonus target upon the attainment of certain consolidated adjusted earnings per share goals, up to 55% of their bonus target upon the attainment of certain business unit performance goals, and up to 20% of their bonus target upon the attainment of a certain key strategic project relating to driver retention for their respective business units.
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