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Forward Air (NASDAQ: FWRD) transformation chief reports 6,378-share ownership

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

FORWARD AIR CORP reported the initial holdings of Chief Transformation Officer Karl Khambatta. He beneficially owns 6,378 shares of common stock, including 5,031 unvested restricted stock awards. These awards vest in three equal annual installments on each grant-date anniversary, contingent on his continued service to the company.

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Insider Khambatta Karl
Role Chief Transformation Officer
Type Security Shares Price Value
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 6,378 shares (Direct, null)
Footnotes (1)
  1. [object Object]
Total beneficial ownership 6,378 shares Common stock held by Karl Khambatta
Unvested restricted stock awards 5,031 shares RSAs included in beneficial ownership
Vesting schedule 3 annual installments Equal installments on each grant-date anniversary
unvested restricted stock awards financial
"Includes an aggregate of 5,031 unvested restricted stock awards (RSAs)."
vest in three equal annual installments financial
"These RSAs vest in three equal annual installments on each anniversary..."
beneficially owns financial
"Includes an aggregate of 5,031 unvested restricted stock awards (RSAs)."
Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.
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SEC Form 3
FORM 3UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0104
Estimated average burden
hours per response:0.5
1. Name and Address of Reporting Person*
Khambatta Karl
(Last)(First)(Middle)
3200 OLYMPUS BOULEVARD
SUITE 300
(Street)
DALLAS TEXAS 75019
(City)(State)(Zip)
UNITED STATES
(Country)		2. Date of Event Requiring Statement (Month/Day/Year)
06/17/2026		3. Issuer Name and Ticker or Trading Symbol
FORWARD AIR CORP [ FWRD ]
3a. Foreign Trading Symbol
5. If Amendment, Date of Original Filed (Month/Day/Year)
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Transformation Officer
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock6,378(1)D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year)3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Includes an aggregate of 5,031 unvested restricted stock awards (RSAs). These RSAs vest in three equal annual installments on each anniversary of their respective grant dates, subject to the Reporting Person's continued service to the Issuer through each applicable vesting date.
Remarks:
See Exhibit 24.1 - Power of Attorney
/s/ Michael L. Hance, Attorney-in-Fact06/29/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What does the Form 3 filing for FORWARD AIR CORP (FWRD) disclose about Karl Khambatta?

The Form 3 shows Chief Transformation Officer Karl Khambatta’s initial beneficial ownership in FORWARD AIR CORP. It reports 6,378 common shares, including 5,031 unvested restricted stock awards that vest over time, establishing his starting equity position as an executive.

How many FORWARD AIR CORP (FWRD) shares does Karl Khambatta beneficially own?

Karl Khambatta beneficially owns 6,378 shares of FORWARD AIR CORP common stock. This total includes both vested shares and 5,031 unvested restricted stock awards, reflecting his combined current and time-based equity stake as Chief Transformation Officer.

What are the key terms of Karl Khambatta’s unvested restricted stock awards at FORWARD AIR CORP (FWRD)?

The filing states Khambatta holds 5,031 unvested restricted stock awards. These RSAs vest in three equal annual installments on each grant-date anniversary, provided he continues serving FORWARD AIR CORP through each applicable vesting date, aligning incentives with ongoing employment.

Does the FORWARD AIR CORP (FWRD) Form 3 show any recent insider buying or selling by Karl Khambatta?

The Form 3 functions as an initial ownership report, not a trade disclosure. It lists Khambatta’s 6,378-share position, including 5,031 unvested RSAs, and does not indicate open-market buying or selling activity in this specific filing.

Why is Karl Khambatta’s Form 3 important for FORWARD AIR CORP (FWRD) investors?

The Form 3 clarifies the equity stake of a key executive, Karl Khambatta. It shows 6,378 shares, with 5,031 unvested RSAs vesting over time, highlighting how his compensation is tied to FORWARD AIR CORP’s long-term performance and his continued service.