X0306 4 2015-02-05 0 0000928658 COVENANT TRANSPORTATION GROUP INC CVTI 0001551845 Scholl Clay 400 BIRMINGHAM HIGHWAY CHATTANOOGA TN 37419 0 1 0 0 VP of Subsidiary Class A Common Stock 2015-02-05 4 M 0 1500 13.64 A 36925 D Class A Common Stock 2015-02-05 4 S 0 3729 29.0601 D 33196 D Class A Common Stock 2015-02-06 4 I 0 8162 0 D 0 I 401(k) Employee Stock Option (Right-to-Buy) Class A Common Stock 13.64 2015-02-05 4 M 0 1500 0 D 2005-05-10 2015-05-10 Class A Common Stock 1500 0 D Represents exercise of employee stock option scheduled to expire on May 10, 2015, which avoided forfeiture by the reporting person of such option on such date. Price reflects a weighted average sale price for multiple transactions ranging from $29.05 to $29.15 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. Represents intra-plan transfer from the Company stock fund. The number of shares is based upon the February 5, 2015, closing price since the plan is unitized and as such does not itself allocate a specific number of shares to each participant. /s/ Clay Scholl, by Heidi Hornung-Scherr, attorney-in-fact, pursuant to a POA previously filed with the SEC 2015-02-09