Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF 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. Date of Event Requiring Statement (Month/Day/Year)
01/31/2007
3. Issuer Name and Ticker or Trading Symbol
CELADON GROUP INC [CLDN]
(Last)
(First)
(Middle)
ONE CELADON DRIVE, 9503 EAST 33RD STREET
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President of Subsidiary
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

INDIANAPOLIS, IN 46235
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 Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 27,100 (1)
D
 
Common Stock 1,312
I
By Son
Common Stock 975
I
By Son

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right-to-Buy)   (2) 02/02/2011 Common Stock 52,499 $ 1.83 D  
Employee Stock Option (Right-to-Buy)   (3) 01/12/2016 Common Stock 7,650 $ 12.81 D  
Employee Stock Option (Right-to-Buy)   (4) 01/12/2016 Common Stock 11,250 $ 12.81 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 Power of Attorney filed herewith 01/31/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(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) Includes 1,000 shares of the Issuer's Common Stock owned jointly with the reporting person's spouse.
(2) Original grant was an option to purchase 33,333 shares of the Issuer?s Common Stock, which vested 11,111, 11,111, and 11,111 on 02/02/2002, 02/02/2003, and 02/02/2004, respectively. The reporting person previously exercised a portion of the derivative security representing 10,000 shares on 11/04/2004. The derivative security reported in Table II reflects the remainder of this grant, as adjusted for the 3-for-2 stock splits declared 02/01/2006 and 06/01/2006. Upon exercise, the derivative security converts on a one-to-one basis into the Issuer?s Common Stock.
(3) The option became exercisable as to 1,913 shares on January 12, 2007, and becomes exercisable with respect to the remaining shares as they vest 1,913, 1,912, and 1,912 on 01/12/2008, 01/12/2009, and 01/12/2010, respectively. Upon exercise, the derivative security converts on a one-to-one basis into the Issuer?s Common Stock.
(4) The option became exercisable as to 2,813 shares on January 12, 2007, and becomes exercisable with respect to the remaining shares as they vest 2,813, 2,812, and 2,812 on 01/12/2008, 01/12/2009, and 01/12/2010, respectively. Upon exercise, the derivative security converts on a one-to-one basis into the Issuer?s Common Stock.

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