FORWARD AIR CORP

Ticker: FWRD CUSIP: 34986A104 Class: Common Stock

ADAR1 Capital Management, LLC's Holding History (CIK: 0001940272)

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

Q4 2025

Shares 26,635 Value ($000) $666 Avg Close $22.51 Range $15.75 - $26.70

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	26,635	$666	$22.51	$15.75 - $26.70