FORWARD AIR CORP

Ticker: FWRD CUSIP: 34986A104 Class: Common Stock

Tower Research Capital LLC (TRC)'s Holding History (CIK: 0001533421)

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

Q4 2025

Shares 1,794 Value ($000) $45 Avg Close $22.51 Range $15.75 - $26.70

Q3 2025

Shares 3,550 Value ($000) $91 Avg Close $28.77 Range $24.20 - $32.47

Q2 2025

Shares 2,600 Value ($000) $64 Avg Close $17.76 Range $9.79 - $25.76

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	1,794	$45	$22.51	$15.75 - $26.70
Q3 2025	3,550	$91	$28.77	$24.20 - $32.47
Q2 2025	2,600	$64	$17.76	$9.79 - $25.76