X0306 4 2015-02-02 0 0000865941 CELADON GROUP INC CGI 0001204518 WILL PAUL ONE CELADON DRIVE 9503 EAST 33RD STREET INDIANAPOLIS IN 46235-4207 1 1 0 0 President & CEO Common Stock 2015-02-02 4 S 0 57357 24.31 D 160000 D Common Stock 2015-02-02 4 M 0 85050 12.81 A 245050 D Common Stock 2015-02-03 4 S 0 85050 24.20 D 160000 D Employee Stock Option (Right to Buy) 12.81 2015-02-02 4 M 0 85050 0 D 2010-01-12 2016-01-12 Common Stock 85050 0 D Price reflects a weighted average sale price for multiple transactions ranging from $23.91 to $24.60 per share, inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a stockholder of the issuer, full information regarding the number of shares sold at each separate price. Price reflects a weighted average sale price for multiple transactions ranging from $24.00 to $25.00 per share, inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a stockholder of the issuer, full information regarding the number of shares sold at each separate price. Grant of option to purchase reflects adjustment for previous stock splits. Transaction involved exercise of an option to purchase shares of the Issuer's Common Stock at an exercise price of $12.81. Upon exercise, the derivative security converts on a one-to-one basis into the Issuer's Common Stock. /s/ Paul Will, by Heidi Hornung-Scherr, attorney-in-fact, pursuant to a POA previously filed with the SEC 2015-02-04