Michael B. Hodge - Mar 14, 2024 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
Mar 14, 2024
Transactions value $
$0
Form type
4
Date filed
3/29/2024, 09:38 PM
Previous filing
Feb 28, 2024
Next filing
May 24, 2024

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 Series B Preferred Units Other $0 -949K -55.97% $0.00 746K Mar 14, 2024 Common Stock 949K $0.00 By LLC F1, F2
transaction FWRD Class B Units Other $0 -949K -55.97% $0.00 746K Mar 14, 2024 Common Stock 949K $0.00 By LLC F1, F3
transaction FWRD Series C-2 Units Other $0 -1.64M -55.97% $0.00 1.29M Mar 14, 2024 Class B Units 1.64M $0.00 By LLC F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Distribution from Omni Investor Holdings, LLC, of which the reporting person is a co-manager.
F2 Represents Series B Preferred Units received by EVE Omni Investor, LLC (the 'LLC'). Series B Preferred Units and corresponding Opco Class B Units are exchangeable at the option of the holder into shares of the Issuer's common stock. The Series B Preferred Units do not have an expiration date. The reporting person is a co-manager of the LLC. The reporting person disclaims beneficial ownership of the securities held by the LLC, except to the extent of his pecuniary interest therein.
F3 Represents Opco Class B Units received by the LLC. Series B Preferred Units and corresponding Opco Class B Units are exchangeable into shares of the Issuer's common stock. The Opco Class B Units do not have an expiration date. The reporting person is a co-manager of the LLC. The reporting person disclaims beneficial ownership of the securities held by the LLC, except to the extent of his pecuniary interest therein.
F4 Represents Opco Series C-2 Units received by the LLC. The Opco Series C-2 Units will automatically convert into a corresponding number of Opco Class B Units and Series B Preferred Units upon receipt of approval from the Issuer's shareholders. The Opco Series C-2 Units do not have an expiration date. The reporting person is a co-manager of the LLC. The reporting person disclaims beneficial ownership of the securities held by the LLC, except to the extent of his pecuniary interest therein.