FORWARD AIR CORP — Director's Dealing 2011

Mar 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2011-02-25

Reporting Person: MUNDY RAY A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-25	Common Stock	M	11250.0000	$25.4200	Acquired	37574.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-25	Stock Option (Right to Buy)	$25.4200	M	11250.0000	Disposed	2011-05-22	Common Stock (11250.0000)	Direct

Footnotes

F1: These options vested 50% each year over a two year period commencing on 5/22/02.