OSBORNE TIMOTHY R 4

What Happened

• Timothy R. Osborne, Executive Vice President of Operations at Forward Air (FWRD), received a grant of 5,850 restricted shares on 2026-02-19 (transaction code A). The award has an immediate acquisition reporting but vests equally on the first, second and third anniversaries of the grant date, subject to continuous employment.
• On the same date 513 shares were withheld (transaction code F) to satisfy minimum tax withholding obligations at an indicated share value of $27.78, totaling $14,251. The withholding is a tax settlement action rather than an open-market sale.

Key Details

• Transaction dates: 2026-02-19 (grant and withholding); Form 4 filed 2026-02-23 (timely — within the 2 business‑day filing window).
• Award: 5,850 restricted shares reported as acquired at $0.00 (standard for restricted stock grants).
• Withholding: 513 shares disposed @ $27.78 each; total value reported $14,251 (used to satisfy tax withholding).
• Shares owned after the transactions: not specified in this filing.
• Footnotes: F1 — award vests in three equal annual installments (subject to continued employment). F2 — 513 shares withheld by issuer to satisfy minimum tax withholding upon vesting/net settlement.
• Transaction codes: A = Award/Grant (acquisition); F = Tax withholding (disposition of shares to cover taxes).

Context

• This filing reflects an equity award (restricted stock) rather than an open‑market purchase or a sale for cash; the withheld shares are routine tax withholding on the award. Restricted stock grants are common executive compensation and vest over time — they do not necessarily indicate immediate buying or selling intent in the open market.