Insider Transactions Reported by 40 Insiders of FORWARD AIR CORP

Symbol: FWRD on Nasdaq
Location: Dallas, TX

Quick Takeaways

FWRD - FORWARD AIR CORP has 40 insiders with reported activity on this page.
Net insider value flow over the last year: -$2,547,762.
Recent transaction rows are available for direct filing-level review.

What Changed

Buy value: $4,034,950; sell value: $6,582,712.
Net share flow: -77,163.

Why This Matters

This page gives a plain-language issuer insider context before you inspect transaction-level evidence.
Use the filing links below to verify timestamps, codes, and ownership impacts directly from SEC forms.

Source Evidence

Filed on Form 4

Issuer insider activity is sourced from SEC Forms 3, 4, and 5.

See Original Filing

Insider trading overview

Last 12 months

Net insider flow leans to selling over the last 12 months. Net value: -$2,547,762.

Buys

$4,034,950

Shares: 225,000

Insiders: 1

Sells

$6,582,712

Shares: 302,163

Insiders: 1

Net

-$2,547,762

Shares: -77,163

Insiders: 0

Window (months)	Buy shares	Sell shares	Buy $	Sell $	Net $
0-3	0	0	$0	$0	$0
3-6	225,000	272,163	$4,034,950	$5,940,112	-$1,905,162
6-9	0	30,000	$0	$642,600	-$642,600
9-12	0	0	$0	$0	$0

FORWARD AIR CORP executives and other stock owners filed with the SEC include:

Name	Relationship	Holdings Value	Past Year Net Change	Change %	Valuation	Report Date
Cetus Capital VI, L.P.	10%+ Owner	$69,748,299	-$2,547,762	-3.5%	Filing P/S	20 Oct 2025
Thomas Schmitt	President & CEO, Director	$5,801,431			Mixed	04 Feb 2024
Chris C. Ruble	Chief Operating Officer	$4,124,208			Mixed	15 Mar 2024
Shawn Stewart	Chief Executive Officer, Director	$3,916,027			Mixed	16 Mar 2026
Kyle R. Mitchin	Chief People Officer	$2,546,702			Mixed	15 Mar 2024
Jamie G. Pierson	Cfo	$2,428,494			Mixed	16 Mar 2026
Michael L. Hance	CLO and Secretary	$2,391,556			Mixed	15 Mar 2026
C. Robert Campbell	Director	$1,989,858			Mixed	18 Aug 2023
Joseph Michael Tomasello	Chief Information Officer	$1,776,213			Mixed	15 Mar 2025
Ronald W. Allen	Director	$1,678,896			Mixed	17 Aug 2023
Scott M. Niswonger	Director	$1,664,689			Mixed	10 May 2023
Michael B. Hodge	Director	$1,600,074			Mixed	13 Jun 2025
Craig Carlock	Director	$1,135,827			Mixed	15 Oct 2024
Laurie Anne Tucker	Director	$1,068,775			Mixed	17 Aug 2023
Ana B. Amicarella	Director	$806,197			Mixed	10 May 2023
George M. Lynch	Director	$760,626			Mixed	18 Aug 2023
Valerie A. Bonebrake	Director	$714,027			Mixed	13 Jun 2023
Timothy R. Osborne	Executive VP of Operations	$629,853			Mixed	15 Mar 2026
Jerome Jean-Pierre Lorrain	Executive Chairman, Director	$607,819			Mixed	19 Feb 2026
Scott E. Schara	Chief Commercial Officer	$474,819			Mixed	08 Feb 2022
Charles Leonard Anderson	Director	$472,148			Mixed	13 Jun 2025
Robert Leon Edwards Jr.	Director	$472,148			Mixed	13 Jun 2025
Eric Frederick Brandt	Chief Commercial Officer	$443,646			Mixed	19 Feb 2026
Javier Polit	Director	$435,320			Mixed	18 Aug 2023
Chitra Nayak	Director	$401,897			Mixed	17 Aug 2023
Douglas James Smith	Chief People Officer	$369,307			Mixed	19 Feb 2026
George S. Mayes Jr.	Director	$360,719			Mixed	18 Aug 2023
Rebecca J. Garbrick	Cfo	$353,376			Mixed	04 Feb 2024
Jessica L. Herren	Chief Supply Chain Officer	$294,440			Mixed	19 Feb 2026
Dale W. Boyles	Director	$228,384			Mixed	13 Jun 2025
Christine Marie Gorjanc	Director	$228,384			Mixed	13 Jun 2025
James R. Faught	Chief Accounting Officer	$220,906			Mixed	19 Feb 2026
Richard H. Roberts	Director	$206,165			Mixed	11 May 2022
Nancee L. Ronning	Chief Commercial Officer	$198,409			Mixed	07 Feb 2024
Paul C. Svindland	Director	$109,665			Mixed	13 Jun 2025
Ridgemont Equity Management III, LLC	Director, 10%+ Owner	$30,952			Mixed	02 Aug 2024
W. Gilbert West	Director	$23,197			Mixed	01 Mar 2024
Christopher H. Schmachtenberger	Director	$0			Mixed	14 Mar 2024
REP Omni Holdings GP, LLC	Director, 10%+ Owner				Mixed	25 Jan 2024
CLEARLAKE CAPITAL GROUP, L.P.	10%+ Owner				Mixed	14 Aug 2024

Top shareholders of FORWARD AIR CORP (13F + 13D/G + 3/4/5)

Grouped by holder across the latest SEC ownership disclosures. Ownership % is shown only when it is directly reported or safely comparable across share classes.

Methodology: rows are grouped by holder and ranked by the holder's primary source value. — indicates unavailable or non-comparable values; "mixed-class rows" means the latest filing spans non-comparable classes.

Holder	Source	Role / Reporting	Ownership %	Shares	Holdings Value	12M Net Δ	As of	Details
CLEARLAKE CAPITAL GROUP, L.P.	13F 13D/G 3/4/5	Company · 10%+ Owner	13% from 13D/G	3,825,000	$95,625,000	—	31 Dec 2025	13F 13D/G 3/4/5
BlackRock, Inc.	13F 13D/G	Company	11% from 13D/G	3,400,804	$85,020,100	—	31 Dec 2025	13F 13D/G
Cetus Capital VI, L.P.	3/4/5 13D/G	10%+ Owner	9.9% from 13D/G	3,116,546	$69,748,299	-$2,547,762	20 Oct 2025	3/4/5 13D/G
LITTLEJOHN & CO LLC	13F	Company	— class O/S missing	2,426,359	$60,658,975	—	31 Dec 2025	13F
VANGUARD GROUP INC	13F	Company	— class O/S missing	2,342,425	$58,560,625	—	31 Dec 2025	13F
Irenic Capital Management LP	13F	Company	— class O/S missing	1,229,819	$30,745,475	—	31 Dec 2025	13F
Paralel Advisors LLC	13F	Company	— class O/S missing	975,000	$24,375,000	—	31 Dec 2025	13F
FMR LLC	13F	Company	— class O/S missing	961,868	$24,046,700	—	31 Dec 2025	13F
STATE STREET CORP	13F	Company	— class O/S missing	949,784	$23,744,600	—	31 Dec 2025	13F
PRIVATE MANAGEMENT GROUP INC	13F	Company	— class O/S missing	928,807	$23,220,175	—	31 Dec 2025	13F
Melqart Asset Management (UK) Ltd	13F	Company	— class O/S missing	849,876	$21,246,900	—	31 Dec 2025	13F
CIBC WORLD MARKET INC.	13F	Company	— class O/S missing	784,731	$19,618,275	—	31 Dec 2025	13F
GEODE CAPITAL MANAGEMENT, LLC	13F	Company	— class O/S missing	531,614	$13,292,641	—	31 Dec 2025	13F
UBS Group AG	13F	Company	— class O/S missing	491,835	$12,295,875	—	31 Dec 2025	13F
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	13F	Company	— class O/S missing	481,944	$12,048,600	—	31 Dec 2025	13F
JANE STREET GROUP, LLC	13F	Company	— class O/S missing	419,266	$10,481,650	—	31 Dec 2025	13F
BNP PARIBAS FINANCIAL MARKETS	13F	Company	— class O/S missing	404,706	$10,117,650	—	31 Dec 2025	13F
BANK OF AMERICA CORP /DE/	13F	Company	— class O/S missing	384,708	$9,617,700	—	31 Dec 2025	13F
MORGAN STANLEY	13F	Company	— class O/S missing	344,071	$8,601,792	—	31 Dec 2025	13F
CITADEL ADVISORS LLC	13F	Company	— class O/S missing	309,598	$7,739,950	—	31 Dec 2025	13F
Walleye Capital LLC	13F	Company	— class O/S missing	287,094	$7,177,350	—	31 Dec 2025	13F
DEUTSCHE BANK AG\	13F	Company	— class O/S missing	281,800	$7,045,000	—	31 Dec 2025	13F
ROYCE & ASSOCIATES LP	13F	Company	— class O/S missing	281,553	$7,038,825	—	31 Dec 2025	13F
SUSQUEHANNA INTERNATIONAL GROUP, LLP	13F	Company	— class O/S missing	272,123	$6,803,075	—	31 Dec 2025	13F
Invesco Ltd.	13F	Company	— class O/S missing	268,960	$6,724,000	—	31 Dec 2025	13F
Nuveen, LLC	13F	Company	— class O/S missing	254,409	$6,360,225	—	31 Dec 2025	13F
Allianz Asset Management GmbH	13F	Company	— class O/S missing	246,737	$6,168,425	—	31 Dec 2025	13F
GOLDMAN SACHS GROUP INC	13F	Company	— class O/S missing	243,165	$6,079,125	—	31 Dec 2025	13F
Thomas Schmitt	3/4/5	President & CEO, Director	— class O/S missing	84,532	$5,801,431	—	04 Feb 2024	3/4/5
NORTHERN TRUST CORP	13F	Company	— class O/S missing	219,942	$5,498,550	—	31 Dec 2025	13F
Shay Capital LLC	13F	Company	— class O/S missing	194,300	$4,857,500	—	31 Dec 2025	13F
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND	13F	Company	— class O/S missing	182,985	$4,574,625	—	31 Dec 2025	13F
PSquared Asset Management AG	13F	Company	— class O/S missing	175,760	$4,394,000	—	31 Dec 2025	13F
Mill Road Capital Management LLC	13F	Company	— class O/S missing	167,650	$4,191,250	—	31 Dec 2025	13F
Chris C. Ruble	3/4/5	Chief Operating Officer	— class O/S missing	60,093	$4,124,208	—	15 Mar 2024	3/4/5
Squarepoint Ops LLC	13F	Company	— class O/S missing	162,614	$4,065,350	—	31 Dec 2025	13F
SummitTX Capital, L.P.	13F	Company	— class O/S missing	161,190	$4,029,750	—	31 Dec 2025	13F
Shawn Stewart	3/4/5	Chief Executive Officer, Director	— class O/S missing	148,166	$3,916,027	—	16 Mar 2026	3/4/5
DIMENSIONAL FUND ADVISORS LP	13F	Company	— class O/S missing	152,774	$3,819,348	—	31 Dec 2025	13F
HRT FINANCIAL LP	13F	Company	— class O/S missing	152,383	$3,809,000	—	31 Dec 2025	13F
Bank of New York Mellon Corp	13F	Company	— class O/S missing	140,454	$3,511,352	—	31 Dec 2025	13F
SIMPLEX TRADING, LLC	13F	Company	— class O/S missing	137,530	$3,438,250	—	31 Dec 2025	13F
ADAGE CAPITAL PARTNERS GP, L.L.C.	13F	Company	— class O/S missing	136,825	$3,420,625	—	31 Dec 2025	13F
GROUP ONE TRADING LLC	13F	Company	— class O/S missing	136,745	$3,418,625	—	31 Dec 2025	13F
Carlyle Group Inc.	13F	Company	— class O/S missing	107,214	$3,093,606	—	31 Dec 2025	13F
CITIGROUP INC	13F	Company	— class O/S missing	120,496	$3,012,400	—	31 Dec 2025	13F
Hudson Bay Capital Management LP	13F	Company	— class O/S missing	119,385	$2,984,625	—	31 Dec 2025	13F
AlpInvest Partners B.V.	13F	Company	— class O/S missing	103,330	$2,981,511	—	31 Dec 2025	13F
Susquehanna Portfolio Strategies, LLC	13F	Company	— class O/S missing	118,173	$2,954,325	—	31 Dec 2025	13F
Diametric Capital, LP	13F	Company	— class O/S missing	117,336	$2,933,400	—	31 Dec 2025	13F

Recent Insider Transactions by Companies or Individuals for FORWARD AIR CORP

Showing up to 300 most recent insider transactions from the last 12 months.

Insider	Symbol	Class	Transaction	%	Value $	* Price $	Shares	Shares Owned	Date	Ownership
Jamie G. Pierson	FWRD	Common Stock	Award	6.65%			5,732	91,884	16 Mar 2026	Direct
Shawn Stewart	FWRD	Common Stock	Award	14.4%			18,692	148,166	16 Mar 2026	Direct
Timothy R. Osborne	FWRD	Common Stock	Tax liability	-9.81%			-2,592	23,831	15 Mar 2026	Direct
Michael L. Hance	FWRD	Common Stock	Tax liability	-5.96%			-5,737	90,486	15 Mar 2026	Direct
Shawn Stewart	FWRD	Common Stock	Tax liability	-2.42%			-3,214	129,474	19 Feb 2026	Direct
Shawn Stewart	FWRD	Common Stock	Award	48.3%			43,197	132,688	19 Feb 2026	Direct
Jamie G. Pierson	FWRD	Common Stock	Tax liability	-1.89%			-1,662	86,152	19 Feb 2026	Direct
Jamie G. Pierson	FWRD	Common Stock	Award	30.8%			20,698	87,814	19 Feb 2026	Direct
Michael L. Hance	FWRD	Common Stock	Tax liability	-0.97%			-946	96,223	19 Feb 2026	Direct
Michael L. Hance	FWRD	Common Stock	Award	12.5%			10,799	97,169	19 Feb 2026	Direct
Eric Frederick Brandt	FWRD	Common Stock	Tax liability	-6.21%			-1,057	15,970	19 Feb 2026	Direct
Eric Frederick Brandt	FWRD	Common Stock	Award	112.1%			8,999	17,027	19 Feb 2026	Direct
Timothy R. Osborne	FWRD	Common Stock	Tax liability	-1.9%			-513	26,423	19 Feb 2026	Direct
Timothy R. Osborne	FWRD	Common Stock	Award	27.7%			5,850	26,936	19 Feb 2026	Direct
Douglas James Smith	FWRD	Common Stock	Tax liability	-3.74%			-516	13,294	19 Feb 2026	Direct
Douglas James Smith	FWRD	Common Stock	Award	73.5%			5,850	13,810	19 Feb 2026	Direct
Jessica L. Herren	FWRD	Common Stock	Tax liability	-3.95%			-436	10,599	19 Feb 2026	Direct
Jessica L. Herren	FWRD	Common Stock	Award	81.4%			4,950	11,035	19 Feb 2026	Direct
Jerome Jean-Pierre Lorrain	FWRD	Common Stock	Award	95%			10,799	22,167	19 Feb 2026	Direct
James R. Faught	FWRD	Common Stock	Tax liability	-4.35%			-362	7,952	19 Feb 2026	Direct
James R. Faught	FWRD	Common Stock	Award	39.2%			2,340	8,314	19 Feb 2026	Direct
Timothy R. Osborne	FWRD	Common Stock	Tax liability	-0.52%			-111	21,086	09 Feb 2026	Direct
Michael L. Hance	FWRD	Common Stock	Tax liability	-0.26%			-225	86,370	09 Feb 2026	Direct
Douglas James Smith	FWRD	Common Stock	Tax liability	-2.96%			-243	7,960	12 Dec 2025	Direct
Jessica L. Herren	FWRD	Common Stock	Tax liability	-2.37%			-148	6,085	18 Nov 2025	Direct
Cetus Capital VI, L.P.	FWRD	Common Stock	Sale	-0.32%	$223,800	$22.38	-10,000	3,116,546	12 Nov 2025	Direct
Cetus Capital VI, L.P.	FWRD	Common Stock	Sale	-2.1%	$1,458,109	$21.71	-67,163	3,126,546	11 Nov 2025	Direct
Cetus Capital VI, L.P.	FWRD	Common Stock	Sale	-3.62%	$2,619,300	$21.83	-120,000	3,193,709	10 Nov 2025	Direct
Cetus Capital VI, L.P.	FWRD	Common Stock	Sale	-2.21%	$1,638,903	$21.85	-75,000	3,313,709	06 Nov 2025	Direct
Cetus Capital VI, L.P.	FWRD	Common Stock	Purchase	7.11%	$4,034,950	$17.93	225,000	3,388,709	20 Oct 2025	Direct
Cetus Capital VI, L.P.	FWRD	Common Stock	Sale	-0.97%	$642,600	$21.42	-30,000	3,063,709	14 Oct 2025	Direct
Jerome Jean-Pierre Lorrain	FWRD	Common Stock	Award	179.9%			7,307	11,368	11 Jul 2025	Direct
James R. Faught	FWRD	Common Stock	Tax liability	-4.9%			-308	5,974	28 Jun 2025	Direct
Paul C. Svindland	FWRD	Common Stock	Award				6,432	6,432	13 Jun 2025	Direct
Michael B. Hodge	FWRD	Common Stock	Award	16.6%			13,395	93,846	13 Jun 2025	Direct
Christine Marie Gorjanc	FWRD	Common Stock	Award	92.4%			6,432	13,395	13 Jun 2025	Direct
Dale W. Boyles	FWRD	Common Stock	Award	92.4%			6,432	13,395	13 Jun 2025	Direct
Robert Leon Edwards Jr.	FWRD	Common Stock	Award	2970.1%			13,395	13,846	13 Jun 2025	See footnotes.
Robert Leon Edwards Jr.	FWRD	Common Stock	Award	2970.1%			13,395	13,846	13 Jun 2025	Direct
Charles Leonard Anderson	FWRD	Common Stock	Award	2970.1%			13,395	13,846	13 Jun 2025	See footnotes.
Charles Leonard Anderson	FWRD	Common Stock	Award	2970.1%			13,395	13,846	13 Jun 2025	Direct
Michael B. Hodge	FWRD	Common Stock	Award	669.8%			70,000	80,451	06 May 2025	Direct
Michael B. Hodge	FWRD	Class B Units	Disposed to Issuer	-12.5%			-70,000	490,774	06 May 2025	Direct

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