We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Covenant Transportation Group Inc | NASDAQ:CVTI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.95 | 8.50 | 14.25 | 0 | 01:00:00 |
[X]
|
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
[ ]
|
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
A.
|
Full title of the plan and the address of the plan, if different from that of the issuer named below:
|
B.
|
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
|
Page
|
|
Report of Independent Registered Public Accounting Firm
|
|
Statements of Net Assets Available for Benefits as of December 31, 2016 and 2015
|
|
Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2016
|
|
Notes to Financial Statements
|
|
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) – December 31, 2016
|
|
EXHIBITS
|
|
Exhibit 23 Consent of Independent Registered Public Accounting Firm
|
& PROFIT SHARING PLAN
|
Statements of Net Assets Available for Benefits
|
December 31, 2016 and 2015
|
2016
|
2015
|
|||||||
Assets:
|
||||||||
Non-interest bearing cash
|
$
|
55,108
|
$
|
70,499
|
||||
Investments
|
32,963,681
|
28,851,969
|
||||||
Notes receivable from participants
|
1,266,941
|
1,122,628
|
||||||
Participants’ contribution receivable
|
61,630
|
149,791
|
||||||
Company contribution receivable
|
12,548
|
29,476
|
||||||
Other receivable
|
2,366
|
-
|
||||||
Net assets available for benefits
|
$
|
34,362,274
|
$
|
30,224,363
|
& PROFIT SHARING PLAN
|
Statement of Changes in Net Assets Available for Benefits
|
Year Ended December 31, 2016
|
Additions:
|
||||
Investment income:
|
||||
Interest and dividends
|
$
|
150,587
|
||
Net appreciation in fair value of investments
|
2,286,824
|
|||
Net investment gain
|
2,437,411
|
|||
Interest on notes receivable from participants
|
45,469
|
|||
Contributions from participants
|
4,608,947
|
|||
Rollovers from participants
|
417,795
|
|||
Contributions from Company
|
910,020
|
|||
Total additions
|
8,419,642
|
|||
Deductions:
|
||||
Participants’ benefits
|
3,820,810
|
|||
Administrative fees
|
460,921
|
|||
Total deductions
|
4,281,731
|
|||
Net increase in net assets available for benefits
|
4,137,911
|
|||
Net assets available for benefits at beginning of year
|
30,224,363
|
|||
Net assets available for benefits at end of year
|
$
|
34,362,274
|
(a) |
Basis of Presentation
|
(b) |
Investments and Investment Income
|
(c) |
Receivables
|
(d) |
Events Occurring After Reporting Date
|
(2) |
Description of the Plan
|
(a) |
General
|
(b) |
Contributions
|
(c) |
Participant Accounts
|
(d)
|
Notes Receivable From Participants
|
(e) |
Payment of Benefits
|
(f) |
Hardship Withdrawals
|
(g) |
Vesting
|
(h) |
Forfeited Accounts
|
(i) |
Administrative Expenses
|
(j) |
Plan Termination
|
(3) |
Transactions With Parties‑In‑Interest
|
(4) |
Fair Value Measurements
|
Level 1
|
-
|
Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.
|
|
|
|
Level 2 |
-
|
Inputs to the valuation methodology include: |
-
|
Quoted prices for similar assets or liabilities in active markets; | |
-
|
Quoted prices for identical or similar assets or liabilities in inactive markets; | |
-
|
Inputs other than quoted prices that is observable for the asset or liability; | |
-
|
Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
Level 3
|
-
|
Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
|
(i)
|
Cash: Valued at its outstanding balance as reported by the Trustee.
|
(ii)
|
Mutual funds: Valued at the net asset value (NAV) of shares held by the Plan at year-end, based on closing prices reported on the active market on which the individual securities are traded.
|
(iii)
|
Unitized stock fund: The Unitized CVTI Fund is comprised of Covenant Transportation Group, Inc., common stock and cash. The common stock is carried at fair value based on the closing price as reported on the active market. Investments in the fund are stated at estimated fair values, which have been determined based on unit values. Unit values are determined by dividing the fund’s net assets at fair value by its units outstanding at the valuation dates. The unit values of the fund were $10.21 and $10.09 on December 31, 2016 and 2015, respectively.
|
Fair Value Measurements as of
|
||||||||||||||||
December 31, 2016 Using the Following Inputs
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
Cash
|
$
|
183,034
|
$
|
183,034
|
$
|
-
|
$
|
-
|
||||||||
Mutual funds
|
8,269,473
|
8,269,473
|
-
|
-
|
||||||||||||
Unitized CVTI fund
|
3,070,833
|
-
|
3,070,833
|
-
|
||||||||||||
Total assets in the fair value hierarchy
|
11,523,340
|
$
|
8,452,507
|
$
|
3,070,833
|
$
|
-
|
|||||||||
Investments measured at NAV as a practical expedient (a)
|
21,440,341
|
|||||||||||||||
Total Investments at fair value
|
$
|
32,963,681
|
Fair Value Measurements as of
|
||||||||||||||||
December 31, 2015 Using the Following Inputs
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
Cash
|
$
|
53,073
|
$
|
53,073
|
$
|
-
|
$
|
-
|
||||||||
Mutual funds
|
7,273,673
|
7,273,673
|
-
|
-
|
||||||||||||
Unitized CVTI fund
|
2,843,512
|
-
|
2,843,512
|
-
|
||||||||||||
Total assets in the fair value hierarchy
|
10,170,258
|
$
|
7,326,746
|
$
|
2,843,512
|
$
|
-
|
|||||||||
Investments measured at NAV as a practical expedient (a)
|
18,681,711
|
|||||||||||||||
Total investments at fair value
|
$
|
28,851,969
|
(a)
|
|
Certain investments are measured at net asset value as a practical expedient to estimate fair value and, therefore, have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the statements of net assets available for benefits.
|
Description
|
Fair Value
12/31/2016
|
Fair Value
12/31/2015
|
Unfunded
Commitments
|
Redemption Frequency
(if Currently Eligible)
|
Redemption
Notice Period
|
||||||||||
Collective Trust Fund
|
$
|
21,440,341
|
$
|
18,681,711
|
N/A
|
Daily
|
None
|
(5) |
Income Tax Status
|
(6) |
Subsequent Events
|
(b) |
(c)
|
(e)
|
||||||
(a)
|
Identity of Issuer, Borrower,
Lessor or Similar Party
|
Description of Investment, Including Maturity Date,
Rate of Interest, Par or Maturity Value
|
CURRENT VALUE
|
|||||
*
|
State Street Bank & Trust Co.
|
Cash Reserve Account
|
$
|
183,034
|
||||
American Beacon
|
American Beacon Intn'l Equities Instl
|
881
|
||||||
American Beacon
|
American Beacon Small Cap Value Instl
|
153,801
|
||||||
American Funds
|
American Funds Capital World Growth & Income R6
|
284,298
|
||||||
American Funds
|
American Funds EuroPacific Growth R6
|
17,314
|
||||||
BlackRock
|
BlackRock High Yield Bond Instl
|
328,765
|
||||||
Dodge & Cox
|
Dodge & Cox International
|
156,436
|
||||||
Fidelity
|
Fidelity Balanced
|
355,534
|
||||||
JPMorgan
|
JPMorgan Mid Cap Growth R6
|
183,409
|
||||||
Matthews
|
Matthews Pacific Tiger Investor
|
236,478
|
||||||
Oppenheimer
|
Oppenheimer International Growth Y
|
90,508
|
||||||
Oppenheimer
|
Oppenheimer Senior Floating Rate I
|
55,662
|
||||||
Prudential
|
Prudential Total Return Bond Z
|
825,631
|
||||||
T. Rowe Price
|
T. Rowe Price Growth Stock
|
481,240
|
||||||
Franklin Templeton
|
Templeton Global Bond Adv
|
233,282
|
||||||
Vanguard
|
Vanguard 500 Index Adm
|
368,128
|
||||||
Vanguard
|
Vanguard Equity Income Adm
|
1,060,596
|
||||||
Vanguard
|
Vanguard Mid Cap Index Adm
|
433,339
|
||||||
Vanguard
|
Vanguard Selected Value
|
455,747
|
||||||
Vanguard
|
Vanguard Short Term Federal Adm
|
68,829
|
||||||
Vanguard
|
Vanguard Short Term Investment Grade Adm
|
571,083
|
||||||
Vanguard
|
Vanguard Small Cap Growth Index Adm
|
271,691
|
||||||
Vanguard
|
Vanguard Small Cap Index Adm
|
441,846
|
||||||
Vanguard
|
Vanguard Treasury Money Market Investor
|
1,194,975
|
||||||
Mutual Funds Total
|
8,269,473
|
|||||||
*
|
Comerica Bank & Trust
|
Fiduciary Investment Trust Aggressive B
|
2,960,214
|
|||||
*
|
Comerica Bank & Trust
|
Fiduciary Investment Trust Balanced B
|
14,634,470
|
|||||
*
|
Comerica Bank & Trust
|
Fiduciary Investment Trust Conservative B
|
785,324
|
|||||
*
|
Comerica Bank & Trust
|
Fiduciary Investment Trust Growth B
|
2,910,975
|
|||||
*
|
Comerica Bank & Trust
|
Fiduciary Investment Trust Moderately Conservative B
|
149,358
|
|||||
Collective Trust Total
|
21,440,341
|
|||||||
*
|
Covenant Transportation Group, Inc.
|
Employer Stock
Covenant Transportation Group, Inc. Class A Common Stock 153,350 shares
|
2,965,789
|
|||||
*
|
State Street Bank & Trust Co.
|
State Street Institutional Reserves
|
105,044
|
|||||
Unitized CVTI Fund
|
3,070,833
|
|||||||
*
|
Participants
|
Notes Receivable with interest rates of 4.25% to 4.75%
|
1,266,941
|
|||||
TOTAL PLAN ASSETS
|
$
|
34,230,622
|
COVENANT TRANSPORTATION GROUP 401(K)
& PROFIT SHARING PLAN
|
||
By:
|
Covenant Transport, Inc.,
Plan Administrator
|
|
Dated: June 16, 2017
|
By:
|
/s/ Richard B. Cribbs
|
Richard B. Cribbs,
Executive Vice President and Chief Financial Officer,
on behalf of Covenant Transport, Inc.
|
Exhibit Number
|
Description of Exhibit
|
|
Consent of Independent Registered Public Accounting Firm
|
1 Year Covenant Transportation Chart |
1 Month Covenant Transportation Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions