FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * PARKER DAVID RAY   2. Issuer Name and Ticker or Trading Symbol COVENANT TRANSPORTATION GROUP INC [CVTI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CHAIRMAN, PRESIDENT AND CEO (Last) (First) (Middle) 400 BIRMINGHAM HIGHWAY 3. Date of Earliest Transaction (Month/Day/Year) 07/16/2010 (Street) CHATTANOOGA, TN 37419 4. If Amendment, Date Original Filed(Month/Day/Year) 01/14/2010 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock 07/16/2010   M   36,773 A $ 8 163,226 (1) D (2)   Class A Common Stock 07/16/2010   S   36,773 D $ 8.5979 126,453 D (2)   Class A Common Stock 07/19/2010   M   18,698 A $ 8 145,151 D (2)   Class A Common Stock 07/19/2010   S   18,698 D $ 8.5626 126,453 D (2)   Class A Common Stock 07/20/2010   M   2,932 A $ 8 129,385 D (2)   Class A Common Stock 07/20/2010   S   2,932 D $ 8.53 126,453 D (2)   Class A Common Stock               3,238,477 D (3)   Class A Common Stock               100,000 I Fn (4) Class A Common Stock               25,121 (5) I 401(k) Class B Common Stock               2,350,000 D (3)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (Right to Buy) Class A Common Stock

$ 8

07/16/2010

M

36,773

(6)

07/27/2010

Class A Common Stock

36,773

(6)

73,227

D

Employee Stock Option (Right to Buy) Class A Common Stock

$ 8

07/19/2010

M

18,698

(6)

07/27/2010

Class A Common Stock

18,698

(6)

54,529

D

Employee Stock Option (Right to Buy) Class A Common Stock

$ 8

07/20/2010

M

2,932

(6)

07/27/2010

Class A Common Stock

2,932

(6)

51,597

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
PARKER DAVID RAY 400 BIRMINGHAM HIGHWAY CHATTANOOGA, TN 37419	X	X	CHAIRMAN, PRESIDENT AND CEO
PARKER JACQUELINE F 400 BIRMINGHAM HIGHWAY CHATTANOOGA, TN 37419		X

Signatures

/s/ David Ray Parker, by Heidi Hornung-Scherr, attorney-in-fact, pursuant to a POA previously filed with the SEC		07/20/2010
**Signature of Reporting Person		Date
/s/ Jacqueline F. Parker, by Heidi Hornung-Scherr, attorney-in-fact, pursuant to a POA previously filed with the SEC		07/20/2010
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Represents the exercise of an option to purchase shares of the issuer's Class A common stock in the amount of 36,773, plus (i) 109,560 shares owned by David Parker, and (ii) 16,893 restricted shares of the issuer's Class A common stock granted January 12, 2010, pursuant to a transaction previously reported by the reporting person (although the aggregate amount granted in the January 12, 2010, transaction was determined following the reporting deadline for the transaction as it was based upon the closing price of the issuer's Class A common stock two full trading days following the public release of the issuer's year end 2009 earnings). The reporting person previously reported that the share number was determined using the closing price two full trading days following public release of the issuer's first quarter 2010 earnings, when it should have been year end 2009 earnings.
(2)	Shares owned by Mr. Parker.
(3)	Shares owned jointly by Mr. Parker and his wife, Jacqueline F. Parker, as joint tenants with rights of survivorship.
(4)	Shares are owned by the Parker Family Limited Partnership, of which Mr. and Mrs. Parker are the general partners.
(5)	The number of shares beneficially owned following the reported transaction is equal to Mr. Parker's July 12, 2010 account balance in the employer stock fund under the issuer's 401(k) plan divided by the closing price on July 12, 2010. The plan is unitized and as such does not itself allocate a specific number of shares to each participant.
(6)	Original grant was an option to purchase 110,000 shares of the issuer's Class A common stock, which vested 36,666, 36,666, and 36,668 on 07/27/01, 07/27/02, and 07/27/03, respectively. The amount reported in Column 9 of Table II reflects the remaining portion of this grant. Upon exercise, the derivative security converts on a one-for-one basis into the issuer's Class A common stock.

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