FORWARD AIR CORP — Director's Dealing 2011

Feb 14, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2011-02-10

Reporting Person: BELL RODNEY L (CFO, SVP & Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-31	Common Stock	J	21.7816	$0.0000	Acquired	35075.4929	Direct
2011-02-10	Common Stock	M	70686.0000	$23.1667	Acquired	105761.4929	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-10	Stock Option (Right to Buy)	$23.1667	M	70686.0000	Disposed	2011-02-12	Common Stock (70686.0000)	Direct

Footnotes

F1: Includes 21.78 shares acquired under the Issuer's employee stock purchase plan in June and December 2010.

F2: This option vested 25% each year over a four year period commencing on 2/12/02.