FORWARD AIR CORP

Ticker: FWRD CUSIP: 34986A104 Class: Common Stock

MORGAN STANLEY's Holding History (CIK: 0000895421)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 344,071 Value ($000) $8,602 Avg Close $22.51 Range $15.75 - $26.70

Q3 2025

Shares 406,158 Value ($000) $10,414 Avg Close $28.77 Range $24.20 - $32.47

Q2 2025

Shares 530,936 Value ($000) $13,029 Avg Close $17.76 Range $9.79 - $25.76

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	344,071	$8,602	$22.51	$15.75 - $26.70
Q3 2025	406,158	$10,414	$28.77	$24.20 - $32.47
Q2 2025	530,936	$13,029	$17.76	$9.79 - $25.76