Companies / Forward Air Corp

Forward Air Corp

Nasdaq: FWRDCIK 912728DALLAS, TX

Financials · FY2025

Revenue$2.50B
Net income$-141.72M
Total debt$1.69B
Cash$139.45M
Diluted EPS$-3.51
Shares outstanding33.8M

Ownership

33.8M shares outstanding · as of Jul 29, 2026
9.2%10%+ / strategic
Ownership
10%+ / strategic9.23%3,116,546
Institutions84.07%28,398,364
Public float6.71%2,265,952

% of common shares outstanding (exact, from the latest cover-page filing). Institutions are quarterly 13F snapshots; insiders reflect current officers & directors.

Insiders 11

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Insider% of sharesShares
Cetus Capital VI, L.P.10% owner
9.23%3,116,546
Stewart ShawnCEOFormerChief Executive Officer · Director
0.44%148,166
Pierson Jamie G.FormerCFO
0.27%91,884
Hance Michael LFormerCLO and Secretary
0.27%90,486
Osborne Timothy RFormerExecutive VP of Operations
0.07%23,831
Gorjanc Christine MarieFormerDirector
0.07%22,940
LORRAIN Jerome Jean-PierreFormerExecutive Chairman · Director
0.07%22,167
Brandt Eric FrederickFormerChief Commercial Officer
0.05%15,970
Smith Douglas JamesFormerChief People Officer
0.04%13,294
Herren Jessica LFormerChief Supply Chain Officer
0.03%10,599

Institutional holders 205

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HolderValue% of shares
Clearlake Capital Group, L.P.$95.63M11.32%
Vanguard Group Inc$58.56M6.93%
BlackRock, Inc.$37.48M8.21%
Irenic Capital Management LP$30.75M3.64%
Paralel Advisors LLC$24.38M2.89%
Fmr LLC$24.05M2.85%
Melqart Asset Management (UK) Ltd$21.25M2.52%
CIBC World Market Inc.$19.62M2.32%
Private Management Group Inc$19.31M3.42%
UBS Group AG$12.30M1.46%

Activity

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InsidersInstitutions
What insiders are doing in this stock (Form 4).
DateActorActionSecurityValueShares ΔPosition afterImpact
Oct 20, 2025Cetus Capital VI, L.P.
10% owner
BuyCommon Stock$3.85M+215K
+6.80%
3,378,709
10.00% of shares
high
Nov 10, 2025Cetus Capital VI, L.P.
10% owner
SellCommon Stock$1.94M-90K
-2.72%
3,223,709
9.54% of shares
medium
Nov 6, 2025Cetus Capital VI, L.P.
10% owner
SellCommon Stock$1.63M-75K
-2.20%
3,313,993
9.81% of shares
medium
Nov 11, 2025Cetus Capital VI, L.P.
10% owner
SellCommon Stock$1.46M-67K
-2.10%
3,126,546
9.26% of shares
medium
Nov 10, 2025Cetus Capital VI, L.P.
10% owner
SellCommon Stock$679.8K-30K
-0.93%
3,193,709
9.45% of shares
medium
Oct 14, 2025Cetus Capital VI, L.P.
10% owner
SellCommon Stock$642.6K-30K
-0.97%
3,063,709
9.07% of shares
medium
Nov 12, 2025Cetus Capital VI, L.P.
10% owner
SellCommon Stock$223.8K-10K
-0.32%
3,116,546
9.23% of shares
medium
Oct 20, 2025Cetus Capital VI, L.P.
10% owner
BuyCommon Stock$188.6K+10K
+0.30%
3,388,709
10.03% of shares
medium

5%+ ownership events

Schedule 13D / 13G
FilerStance% of classSharesDate
Vanguard Group IncPassive13G/A—0—

Securities

via CUSIP / OpenFIGI
SymbolTypeMarketCUSIPFIGI
FWRDCommon StockEquity34986A104BBG000BRCHB4
FWRD——349853101—