FORWARD AIR CORP

Ticker: FWRD CUSIP: 34986A104 Class: Common Stock

Rangeley Capital, LLC's Holding History (CIK: 0001517796)

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

Q4 2025

Shares 76,000 Value ($000) $1,900 Avg Close $22.51 Range $15.75 - $26.70

Q3 2025

Shares 27,400 Value ($000) $703 Avg Close $28.77 Range $24.20 - $32.47

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	76,000	$1,900	$22.51	$15.75 - $26.70
Q3 2025	27,400	$703	$28.77	$24.20 - $32.47