X0306 4 2013-07-08 0 0000865941 CELADON GROUP INC CGI 0001023971 RUSSELL STEPHEN ONE CELADON DRIVE 9503 EAST 33RD STREET INDIANAPOLIS IN 46235 1 1 0 0 Chairman of the Board Common Stock 2013-07-08 4 M 0 100000 12.81 A 838581 D Common Stock 46000 I By spouse Employee Stock Option (Right to Buy) 12.81 2013-07-08 4 M 0 100000 0 D 2016-01-12 Common Stock 100000 183500 D Grant of option to purchase reflects adjustments for previous stock splits. Transaction involves exercise of an option to purchase 100,000 shares of the Issuer's Common Stock at an exercise price of $12.81. Upon exercise, the derivative security converts on a one-for-one basis into the Issuer's Common Stock. The reporting person disclaims beneficial ownership of these securities and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. /s/ Stephen Russell, by Heidi Hornung-Scherr, attorney-in-fact, pursuant to a POA previously filed with the SEC 2013-07-10