Form 4: Forward Air Corp Director Hodge Reports Transaction Involving Series B Preferred Units and Opco Class B Units

Director Michael B Hodge reports a transaction involving the distribution of Series B Preferred Units, Opco Class B Units, and Series C-2 Units from EVE Omni Investor, LLC, where he serves as co-manager, in connection with the redemption of its former co-manager.

Summary

• On May 31, 2024, Michael B Hodge, a director of Forward Air Corp, reported a transaction related to the distribution of securities from EVE Omni Investor, LLC.
• The transaction involved Series B Preferred Units, Opco Class B Units, and Series C-2 Units.
• Hodge is a co-manager of the LLC and disclaims beneficial ownership of the securities held by the LLC, except to the extent of his pecuniary interest.
• The distribution was in connection with the redemption of the LLC's former co-manager for no consideration.
• The reported transaction resulted in Hodge beneficially owning 312,343 shares of common stock indirectly through the LLC.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a transaction. It doesn't inherently convey positive or negative sentiment.

Future Outlook

The Opco Series C-2 Units will automatically convert into a corresponding number of Opco Class B Units and Series B Preferred Units upon receipt of approval from the Issuer's shareholders.

Industry Context

This filing is a routine disclosure related to insider transactions and provides transparency to investors regarding the holdings and transactions of company directors.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding the holdings of a company director.
• The conversion of Opco Series C-2 Units into Opco Class B Units and Series B Preferred Units is contingent upon shareholder approval.

Key Dates