X0303 4 2008-08-22 0 0000928658 COVENANT TRANSPORTATION GROUP INC CVTI 0001181045 HUGHES M. DAVID 400 BIRMINGHAM HIGHWAY CHATTANOOGA TN 37419 0 1 0 0 SENIOR VP AND TREASURER Class A Common Stock 2008-08-22 4 I 0 5418 4.47 A 9101 I 401(k) Class of Common Stock 34167 D The price and share amount reflect the intra-plan transfer of $24,218.14 into the employer stock fund under the issuer's 401(k) plan, divided by the closing price on the date of the transaction. The plan is unitized and as such does not itself allocate a specific number of shares to each participant. The number of shares reported beneficially owned following the reported transaction is equal to the reporting person's August 22, 2008, account balance in the employer stock fund under the issuer's 401(k) plan divided by the closing price on August 22, 2008. The plan is unitized and as such does not itself allocate a specific number of shares to each participant. /s/ M. David Hughes, by Heidi Hornung-Scherr, attorney-in-fact, pursuant to a POA previously filed with the SEC 2008-08-25