FORWARD AIR CORP — Director's Dealing 2015

Feb 10, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2015-02-06

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-31	Common Stock	J	12.8754	—	Acquired	72191.7158	Direct
2015-02-06	Common Stock	M	75000	$28.9733	Acquired	147191.7158	Direct
2015-02-06	Common Stock	F	51777	—	Disposed	95414.7158	Direct
2015-02-06	Common Stock	F	780	—	Disposed	94634.7158	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-06	Stock Option (Right to Buy)	$28.9733	M	75000	Disposed	2015-02-14	Common Stock (75000.0)	Direct

Footnotes

F1: Includes 12.8754 shares acquired under the Issuer's employee stock purchase plan in June and December 2014.

F2: Represents shares surrendered to the Issuer as payment for the exercise price and withholding taxes associated with the exercise of employee stock option expiring on February 14,2015.

F3: Restricted stock withheld by Issuer to satisfy minimum tax withholding obligation on vesting of restricted stock.

F4: 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.