MICHAEL B. HODGE - 14 Mar 2024 Form 4 Insider Report for FORWARD AIR CORP (FWRD)

Role
Director
Signature
/s/ Michael L. Hance, Attorney-in-Fact
Issuer symbol
FWRD
Transactions as of
14 Mar 2024
Transactions value $
$0
Form type
4
Filing time
29 Mar 2024, 21:38:12 UTC
Previous filing
28 Feb 2024
Next filing
24 May 2024
SEC
View on sec.gov

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 -948,588 -56% $0.000000 746,086 14 Mar 2024 Common Stock 948,588 $0.000000 By LLC F1, F2
transaction FWRD Class B Units Other $0 -948,588 -56% $0.000000 746,086 14 Mar 2024 Common Stock 948,588 $0.000000 By LLC F1, F3
transaction FWRD Series C-2 Units Other $0 -1,640,350 -56% $0.000000 1,290,214 14 Mar 2024 Class B Units 1,640,350 $0.000000 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.