FORWARD AIR CORP

Ticker: FWRD CUSIP: 34986A104 Class: Common Stock

ADAGE CAPITAL PARTNERS GP, L.L.C.'s Holding History (CIK: 0001165408)

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

Q4 2025

Shares 136,825 Value ($000) $3,421 Avg Close $22.51 Range $15.75 - $26.70

Q3 2025

Shares 160,622 Value ($000) $4,118 Avg Close $28.77 Range $24.20 - $32.47

Q2 2025

Shares 123,845 Value ($000) $3,039 Avg Close $17.76 Range $9.79 - $25.76

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	136,825	$3,421	$22.51	$15.75 - $26.70
Q3 2025	160,622	$4,118	$28.77	$24.20 - $32.47
Q2 2025	123,845	$3,039	$17.76	$9.79 - $25.76