Hance Michael L 4

What Happened

Michael L. Hance, Chief Legal Officer and Secretary of Forward Air Corp (FWRD), had 225 shares withheld by the company to satisfy tax withholding obligations tied to the vesting/net settlement of restricted stock. The shares were valued at $30.23 each, totaling approximately $6,802. This was a tax-withholding disposition rather than an open-market sale.

Key Details

• Transaction date: 2026-02-09. Filing date: 2026-02-11 (timely).
• Price per share: $30.23; shares withheld/disposed: 225; total value ≈ $6,802.
• Shares owned after the transaction: not specified in the Form 4 filing.
• Transaction code: F (payment of exercise price or tax liability).
• Footnote: F1 — shares were withheld by the issuer to satisfy minimum tax withholding upon vesting and net settlement of restricted stock.

Context

This was a routine tax-withholding action tied to equity vesting (a "net settlement"), not an active sale in the open market. Such withholdings are common and generally reflect payroll tax obligations rather than a signal of the insider’s view on the stock.