FORWARD AIR CORP — Director's Dealing 2015

Feb 11, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2015-02-09

Reporting Person: RUBLE CHRIS C (Executive VP, Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-09	Common Stock	M	1846	$28.9733	Acquired	34920.5638	Direct
2015-02-09	Common Stock	M	17259	$29.44	Acquired	52179.5638	Direct
2015-02-09	Common Stock	S	19105	$50.046	Disposed	33074.5638	Direct
2015-02-09	Common Stock	S	3910	$51	Disposed	29164.5638	Direct
2015-02-10	Common Stock	S	16090	$51.21	Disposed	13074.5638	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-09	Stock Option (Right to Buy)	$28.9733	M	1846	Disposed	2015-02-14	Common Stock (1846.0)	Direct
2015-02-09	Stock Option (Right to Buy)	$29.44	M	17259	Disposed	2015-02-10	Common Stock (17259.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	29	Indirect

Footnotes

F1: At the time of grant, this option was scheduled to vest 25% each year over a four year period commencing on 2/14/06. 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 vests 33-1/3% each year over a three year period commencing on 2/10/09.