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 * Russell Jonathan Scott   2. Issuer Name and Ticker or Trading Symbol CELADON GROUP INC [CGI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President of Subsidiary (Last) (First) (Middle) ONE CELADON DRIVE, 9503 EAST 33RD STREET 3. Date of Earliest Transaction (Month/Day/Year) 08/18/2014 (Street) INDIANAPOLIS, IN 46235 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ 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 Common Stock 08/18/2014   M   18,900 A $ 12.8089 219,217 (1) D (1)   Common Stock 08/18/2014   M   25,000 A $ 8.67 244,217 (1) D (1)   Common Stock 08/18/2014   M   36,000 A $ 9.86 280,217 (1) D (1)   Common Stock 08/18/2014   S   6,000 D $ 21.54 274,217 (1) D (1)   Common Stock 08/18/2014   S   1,700 D $ 21.63 272,517 (1) D (1)   Common Stock 08/19/2014   S   2,317 D $ 21.48 270,200 (1) D (1)   Common Stock 08/19/2014   S   14,983 D $ 21.51 255,217 (1) D (1)   Common Stock 08/19/2014   S   7,331 D $ 21.52 247,886 (1) D (1)   Common Stock 08/20/2014   S   13,971 D $ 21.25 233,915 (1) D (1)   Common Stock 08/20/2014   S   10,387 D $ 21.34 223,528 (1) D (1)   Common Stock 08/20/2014   S   329 D $ 21.4 223,199 (1) D (1)   Common Stock               2,912 I (2) By Son (2) Common Stock               2,575 I (2) By Son (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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)

$ 12.8089

08/18/2014

M

18,900

(3)

01/12/2016

Common Stock

18,900

$ 0

0

D

Employee Stock Option (Right-to-Buy)

$ 8.67

08/18/2014

M

25,000

(4)

10/26/2017

Common Stock

25,000

$ 0

0

D

Employee Stock Option (Right-to-Buy)

$ 9.86

08/18/2014

M

36,000

(5)

01/26/2020

Common Stock

36,000

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Russell Jonathan Scott ONE CELADON DRIVE 9503 EAST 33RD STREET INDIANAPOLIS, IN 46235			President of Subsidiary

Signatures

/s/ Jonathan Scott Russell, by Heidi Hornung-Scherr, attorney-in-fact, pursuant to a POA previously filed with the SEC		08/20/2014
**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)	The shares of the Issuer's Common Stock are owned jointly with the reporting person's spouse, except for any unvested restricted shares.
(2)	The reporting person disclaims beneficial ownership of these securities and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
(3)	The option to purchase 18,900 shares of Issuer's common stock became exercisable in increments of twenty-five percent (25%) on each of 01/12/2007, 01/12/2008, 01/12/2009, and 01/12/2010.
(4)	The option to purchase 25,000 shares of Issuer's common stock became exercisable in increments of twenty-five percent (25%) on each of 10/26/2008, 10/26/2009, 10/26/2010, and 10/26/2011.
(5)	The option to purchase 36,000 shares of Issuer's common stock became exercisable in increments of twenty-five percent (25%) on each of 01/26/2011, 01/26/2012, 01/26/2013, and 01/26/2014.

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