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.