FORWARD AIR CORP — Director's Dealing 2025

May 8, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2025-05-06

Reporting Person: HODGE MICHAEL B (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-06	Common Stock	A	70000	—	Acquired	80451	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-06	Class B Units	$0	D	70000	Disposed		Common Stock (70000)	Direct

Footnotes

F1: On May 6, 2025, Mr. Hodge elected to exchange 70,000 Class B Units of Forward Air Corporation (the "Company") on a one-for one basis for 70,000 shares of common stock, $0.01 par value, of the Company. The Class B Units do not have an expiration date.