FORWARD AIR CORP — Director's Dealing 2017

Feb 9, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2017-02-06

Reporting Person: RUBLE CHRIS C (President - Expedited Services)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-06	Common Stock	A	2300	—	Acquired	21108.2869	Direct
2017-02-06	Common Stock	F	288	—	Disposed	20820.2869	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-06	Stock Option (Right to Buy)	$47.82	A	9098	Acquired	2024-02-06	Common Stock (9098.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	29	Indirect

Footnotes

F1: Award of time-vesting restricted stock under the Forward Air Corporation 2016 Omnibus Incentive Compensation Plan in a transaction exempt from Section 16(b)under Rule 16b-3. The stock vests equally in one-third increments over three years commencing 2/6/18 and fully vesting on 2/6/20.

F2: Includes 65.8704 shares acquired under the Issuer's employee stock purchase plan in June and December 2016.

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

F4: This option vests 33-1/3% each year over a three year period commencing on 2/6/18.