HERREN JESSICA L 4

What Happened
Jessica L. Herren, Chief Supply Chain Officer of Forward Air Corp (FWRD), was granted 4,950 restricted shares on 2026-02-19 (code A, acquisition at $0.00). The filing also reports 436 shares were withheld by the issuer at $27.78 per share (code F) to satisfy tax withholding obligations, a withholding value of $12,112.

Key Details

• Transaction dates: 2026-02-19; Form 4 filed 2026-02-23 (timely within required filing window).
• Grant: 4,950 restricted shares (acquired at $0.00).
• Withholding: 436 shares withheld at $27.78/share to cover taxes; value reported $12,112.
• Shares owned after the transaction: Not specified in the filing.
• Footnotes:
  • F1 — Award of restricted stock that vests equally on each of the first, second and third anniversaries of the grant date, subject to continued employment.
  • F2 — Shares were withheld by the issuer to satisfy minimum tax withholding upon vesting and net settlement of restricted stock.
• Transaction codes: A = award/acquisition; F = tax withholding/net settlement (not an open‑market sale).

Context
Restricted stock awards vest over time (here, equal tranches across three years). The withheld shares represent a tax withholding method (company retains shares to cover taxes) and should not be interpreted as an open‑market sale by the insider. Awards are common compensation for executives; this filing is informational and does not by itself indicate a buy or sell signal.