FORWARD AIR CORP — Director's Dealing 2012

Aug 1, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2012-07-30

Reporting Person: JEWELL MATTHEW J (Executive VP, CLO & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-06-30	Common Stock	J	4.4761	$0.0000	Acquired	17802.2250	Direct
2012-07-30	Common Stock	M	3700.0000	$13.2467	Acquired	21502.2250	Direct
2012-07-30	Common Stock	S	3700.0000	$34.0124	Disposed	17802.2250	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-07-30	Stock Option (Right to Buy)	$13.2467	M	3700.0000	Disposed	2013-02-07	Common Stock (3700.0000)	Direct

Footnotes

F1: Includes 4.4761 shares acquired under the Issuer's employee stock purchase plan in June 2012.

F2: This option vested 100% in one year from 2/7/03 grant date.