FORWARD AIR CORP — Director's Dealing 2011

Oct 31, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2011-10-27

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-06-30	Common Stock	J	10.0693	$0.0000	Acquired	91845.5622	Direct
2011-10-27	Common Stock	S	23.0000	$33.5300	Disposed	91822.5622	Direct
2011-10-27	Common Stock	S	23.0000	$33.3200	Disposed	91799.5622	Direct
2011-10-27	Common Stock	S	100.0000	$33.4640	Disposed	91699.5622	Direct
2011-10-27	Common Stock	S	100.0000	$33.4620	Disposed	91599.5622	Direct
2011-10-27	Common Stock	S	123.0000	$33.4600	Disposed	91476.5622	Direct
2011-10-27	Common Stock	S	128.0000	$33.5200	Disposed	91348.5622	Direct
2011-10-27	Common Stock	S	132.0000	$33.2300	Disposed	91216.5622	Direct
2011-10-27	Common Stock	S	200.0000	$33.5700	Disposed	91016.5622	Direct
2011-10-27	Common Stock	S	200.0000	$33.2000	Disposed	90816.5622	Direct
2011-10-27	Common Stock	S	223.0000	$33.5000	Disposed	90593.5622	Direct
2011-10-27	Common Stock	S	223.0000	$33.3900	Disposed	90370.5622	Direct
2011-10-27	Common Stock	S	223.0000	$33.3600	Disposed	90147.5622	Direct
2011-10-27	Common Stock	S	223.0000	$33.2700	Disposed	89924.5622	Direct
2011-10-27	Common Stock	S	300.0000	$33.3700	Disposed	89624.5622	Direct
2011-10-27	Common Stock	S	300.0000	$33.1700	Disposed	89324.5622	Direct
2011-10-27	Common Stock	S	323.0000	$33.3800	Disposed	89001.5622	Direct
2011-10-27	Common Stock	S	400.0000	$33.4900	Disposed	88601.5622	Direct
2011-10-27	Common Stock	S	423.0000	$33.4100	Disposed	88178.5622	Direct
2011-10-27	Common Stock	S	523.0000	$33.3100	Disposed	87655.5622	Direct
2011-10-27	Common Stock	S	523.0000	$33.2800	Disposed	87132.5622	Direct
2011-10-27	Common Stock	S	531.0000	$33.1600	Disposed	86601.5622	Direct
2011-10-27	Common Stock	S	600.0000	$33.4700	Disposed	86001.5622	Direct
2011-10-27	Common Stock	S	600.0000	$33.3000	Disposed	85401.5622	Direct
2011-10-27	Common Stock	S	623.0000	$33.2900	Disposed	84778.5622	Direct
2011-10-27	Common Stock	S	800.0000	$33.5900	Disposed	83978.5622	Direct
2011-10-27	Common Stock	S	800.0000	$33.5400	Disposed	83178.5622	Direct
2011-10-27	Common Stock	S	1400.0000	$33.5800	Disposed	81778.5622	Direct
2011-10-27	Common Stock	S	1793.0000	$33.2500	Disposed	79985.5622	Direct
2011-10-27	Common Stock	S	2072.0000	$33.4819	Disposed	77913.5622	Direct

Footnotes

F1: Includes 10.069323 shares acquired under the Issuer's employee stock purchase plan in June 2011.