Christopher H. Schmachtenberger - 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, 09:58 PM
Previous filing
Apr 1, 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 +5.51K $0.00 5.51K Mar 14, 2024 Common Stock 5.51K $0.00 By Partnership F1, F2
transaction FWRD Class B Units Other $0 +5.51K $0.00 5.51K Mar 14, 2024 Common Stock 5.51K $0.00 By Partnership F1, F3
transaction FWRD Series C-2 Units Other $0 +9.53K $0.00 9.53K Mar 14, 2024 Class B Units 9.53K $0.00 By Partnership 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.
F2 Represents Series B Preferred Units received by RC94 Partners (the 'Partnership'). 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 general partner of the Partnership and holds a 50% ownership stake in the Partnership. The reporting person disclaims beneficial ownership of the securities held by the Partnership, except to the extent of his pecuniary interest therein.
F3 Represents Opco Class B Units received by the Partnership. 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 general partner of the Partnership and holds a 50% ownership stake in the Partnership. The reporting person disclaims beneficial ownership of the securities held by the Partnership, except to the extent of his pecuniary interest therein.
F4 Represents Opco Series C-2 Units received by the Partnership. 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 the general partner of the Partnership and holds a 50% ownership stake in the Partnership. The reporting person disclaims beneficial ownership of the securities held by the Partnership, except to the extent of his pecuniary interest therein.