FORWARD AIR CORP — Director's Dealing 2023

Mar 20, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2023-02-02

Reporting Person: Hance Michael L (CLO and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-02	Common Stock	F	284	—	Disposed	43460.774	Direct
2023-02-04	Common Stock	F	203	—	Disposed	43257.774	Direct
2023-02-08	Common Stock	F	341	—	Disposed	42916.774	Direct
2023-03-15	Common Stock	A	1436	—	Acquired	44352.774	Direct
2023-03-15	Common Stock	F	350	—	Disposed	44002.774	Direct
2023-03-15	Common Stock	A	1267	—	Acquired	45269.774	Direct
2023-03-15	Common Stock	F	309	—	Disposed	44960.774	Direct

Footnotes

F1: Shares withheld by Issuer to satisfy minimum tax withholding obligation upon vesting of restricted stock on February 2, 2023.

F2: Shares withheld by Issuer to satisfy minimum tax withholding obligation upon vesting of restricted stock on February 4, 2023.

F3: Shares withheld by Issuer to satisfy minimum tax withholding obligation upon vesting of restricted stock on February 8, 2023.

F4: Represents an award of performance shares that vests on March 15, 2023. The number of shares awarded was determined based on earnings before interest, taxes, depreciation and amortization per share of the Issuer as compared to pre-set earnings before interest, taxes, depreciation and amortization per share over a three-year performance period.

F5: Shares withheld by Issuer to satisfy minimum tax withholding obligation upon vesting of performance share award on March 15, 2023.

F6: Represents an award of performance shares that vests on March 15, 2023. The number of shares awarded was determined based on the performance of the common stock of the Issuer as compared to the performance of the common stock of a selected peer group over a three-year performance period.