Ronald W. Allen - May 11, 2022 Form 4 Insider Report for FORWARD AIR CORP (FWRD)

Role: Director
Signature: /s/ Michael L. Hance, Attorney-in-Fact
Stock symbol: FWRD
Transactions as of: May 11, 2022
Transactions value $: $0
Form type: 4
Date filed: 5/13/2022, 06:35 AM
Previous filing: Jan 5, 2022
Next filing: Jun 21, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FWRD	Common Stock	Award	$0	+1.23K	+6.17%	$0.00	21.1K	May 11, 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	FWRD	Dividend Equivalent Rights	Award	$0	+13.3	+11.41%	$0.00	130	May 11, 2022	Common Stock	13.3	$0.00	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents restricted stock units awarded under the Forward Air Corporation Non-Employee Director Plan in a transaction exempt from Section 16(b) under Rule 16b-3. Each restricted stock unit represents a contingent right to receive one share of Common Stock. The restricted stock units fully vest on the earlier of (a) the day immediately prior to the first Annual Meeting that occurs after the grant date or (b) the first anniversary of the grant date. Common Stock will not be issued to the reporting person until his service to the Issuer as a director terminates, and then only to the extent that the foregoing vesting requirements have been met.
F2	The dividend equivalent rights accrued on restricted stock units previously granted under the Forward Air Corporation Non-Employee Director Plans and are fully vested. Each dividend equivalent right is the economic equivalent of one share of Forward Air Corporation common stock.

Content

Represents restricted stock units awarded under the Forward Air Corporation Non-Employee Director Plan in a transaction exempt from Section 16(b) under Rule 16b-3. Each restricted stock unit represents a contingent right to receive one share of Common Stock. The restricted stock units fully vest on the earlier of (a) the day immediately prior to the first Annual Meeting that occurs after the grant date or (b) the first anniversary of the grant date. Common Stock will not be issued to the reporting person until his service to the Issuer as a director terminates, and then only to the extent that the foregoing vesting requirements have been met.

The dividend equivalent rights accrued on restricted stock units previously granted under the Forward Air Corporation Non-Employee Director Plans and are fully vested. Each dividend equivalent right is the economic equivalent of one share of Forward Air Corporation common stock.