FORWARD AIR CORP

Ticker: FWRD CUSIP: 34986A104 Class: Common Stock

Headlands Technologies LLC's Holding History (CIK: 0001570271)

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

Q4 2025

Shares 14,860 Value ($000) $372 Avg Close $22.51 Range $15.75 - $26.70

Q3 2025

Shares 9,005 Value ($000) $231 Avg Close $28.77 Range $24.20 - $32.47

Q2 2025

Shares 7,403 Value ($000) $182 Avg Close $17.76 Range $9.79 - $25.76

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	14,860	$372	$22.51	$15.75 - $26.70
Q3 2025	9,005	$231	$28.77	$24.20 - $32.47
Q2 2025	7,403	$182	$17.76	$9.79 - $25.76