Pierson Jamie G. 4

What Happened

• Jamie Pierson, Chief Financial Officer of Forward Air Corp (FWRD), received an award of 20,698 restricted shares on 2026-02-19 (grant type A, $0.00 per share). To satisfy tax withholding upon vesting, 1,662 shares were withheld (code F) at $27.78 per share, shown as disposition value ~$46,170. Net shares delivered to Pierson after withholding: 19,036.

Key Details

• Transaction date: 2026-02-19; Form 4 filed 2026-02-23 (filing reports the 2/19 transaction).
• Award: 20,698 restricted shares granted at $0.00 (code A).
• Tax withholding: 1,662 shares withheld at $27.78 each for ~$46,170 (code F).
• Shares owned after transaction: Not specified in the filing.
• Footnotes: F1 — Award vests equally on each of the first, second and third anniversaries of the grant, subject to continuous employment. F2 — Shares were withheld by the issuer to satisfy minimum tax withholding obligations.

Context

• This was a compensation award (restricted stock) rather than an open-market purchase or sale; such awards are routine executive compensation and do not necessarily signal a buy/sell decision by the insider.
• The withheld shares represent taxes due upon vesting/settlement (a common cashless settlement mechanism), not a separate sale for investment purposes.