FORWARD AIR CORP — Director's Dealing 2021

May 7, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2021-05-04

Reporting Person: RUBLE CHRIS C (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-04	Common Stock	M	1768	$58.40	Acquired	34992.7739	Direct
2021-05-04	Common Stock	S	6264	$94.60	Disposed	28728.7739	Direct
2021-05-04	Common Stock	S	1504	$95.44	Disposed	27224.7739	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-04	Stock Option (Right to Buy)	$58.4	M	1768	Disposed	2025-02-05	Common Stock (1768.0)	Direct

Footnotes

F1: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $94.25 to $95.22 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer full information regarding the number of shares sold at each separate price.

F2: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $95.28 to $95.71 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer full information regarding the number of shares sold at each separate price.

F3: These options are immediately exercisable.