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Form 8-K CELADON GROUP INC For: Jan 28

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February 3, 2015 4:20 PM EST
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

__________________________________________________________________

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):
January 28, 2015
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__________________________________________________________________

Celadon Logo

CELADON GROUP, INC.
(Exact name of registrant as specified in its charter)


Delaware
001-34533
13-3361050
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)


9503 East 33rd Street
One Celadon Drive, Indianapolis, IN
46235
(Address of principal executive offices)
(Zip Code)


(317) 972-7000
(Registrant's telephone number, including area code)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[���]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[���]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[���]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[���]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.02����������������������Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Compensatory Arrangements of Certain Officers

On January 28, 2015, the Compensation Committee of the Board of Directors (the "Compensation Committee") of Celadon Group, Inc., a Delaware corporation, (the "Company"), in recognition of the Company's financial and operating results and the contribution of certain named executive officers to such results, approved salary increases and granted restricted stock awards as described below.

Salary Increase

The Compensation Committee approved a salary increase for Ken Core, the Company's Vice President and Secretary, increasing his annualized salary to $160,000.

Restricted Stock Awards

The Compensation Committee also approved restricted stock awards to each of Paul Will, Eric Meek, Jonathan Russell, Mr. Core, and Leslie Tarble, effectively immediately.��The restricted stock awards vest one-fourth on each of the first four anniversaries of the grant date, conditioned on continued employment and certain other forfeiture provisions.

The following table sets forth the restricted stock awards.

�
Name and Position
Shares of
Restricted Stock
Paul Will
CEO and President
45,000
� �
Eric Meek
Executive Vice President and Chief Operating Officer
22,500
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Jonathan Russell
President of Asset Light Business Units
12,500
� �
Kenneth Core
Vice President and Secretary
4,500
� �
Leslie Tarble
Vice President, Treasurer, and Principal Financial Officer
4,000


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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

� �
CELADON GROUP, INC.
� � �
� � �
Date: February 3,�2015
By:
 /s/ Bobby Peavler�
� �
Bobby Peavler
Principal Accounting Officer


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