FORWARD AIR CORP — Director's Dealing 2013

May 6, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2013-05-03

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-03	Common Stock	M	12329.0000	$31.6500	Acquired	32217.6382	Direct
2013-05-03	Common Stock	M	10000.0000	$18.8200	Acquired	42217.6382	Direct
2013-05-03	Common Stock	S	22329.0000	$37.2695	Disposed	19888.6382	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-05-03	Stock Option (Right to Buy)	$18.8200	M	10000.0000	Disposed	2014-02-04	Common Stock (10000.0000)	Direct
2013-05-03	Stock Option (Right to Buy)	$31.6500	M	12329.0000	Disposed	2014-02-11	Common Stock (12329.0000)	Direct

Footnotes

F1: At the time of grant, this option was scheduled to vest 25% each year over a four year period commencing on 2/4/05. As of 12/31/05, all options then outstanding became fully exercisable as a result of the Board of Directors accelerating the vesting of all outstanding stock options awarded to employees, officers and non-employee directors under the Company's stock option award plans.

F2: This option vested 33-1/3% each year over a three year period commencing on 2/11/08.