Michael B. Hodge - Aug 2, 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: Aug 2, 2024
Transactions value $: $0
Form type: 4
Date filed: 8/6/2024, 09:22 PM
Previous filing: Jul 11, 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	Conversion of derivative security	$0	+578K	+172.93%	$0.00	912K	Aug 2, 2024	Common Stock	578K	$0.00	By LLC	F1, F2
transaction	FWRD	Class B Units	Conversion of derivative security	$0	+578K	+172.93%	$0.00	912K	Aug 2, 2024	Common Stock	578K	$0.00	By LLC	F1, F2

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

Explanation of Responses:

Id	Content
F1	Reflects the conversion of 577,814 Opco Series C-2 Units acquired by EVE Omni Investor, LLC (the "LLC") in January 2024 into a corresponding number of Opco Class B Units and Series B Preferred Units upon receipt of approval from the Issuer's shareholders at their annual meeting held on June 3, 2024. 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 on a one-for-one basis.
F2	The Series B Preferred Units and Opco Class B Units do not have an expiration date. The reporting person is the 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.

Content

Reflects the conversion of 577,814 Opco Series C-2 Units acquired by EVE Omni Investor, LLC (the "LLC") in January 2024 into a corresponding number of Opco Class B Units and Series B Preferred Units upon receipt of approval from the Issuer's shareholders at their annual meeting held on June 3, 2024. 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 on a one-for-one basis.

The Series B Preferred Units and Opco Class B Units do not have an expiration date. The reporting person is the 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.