Form 4: Forward Air Corp Director Receives Units from Omni Investor Holdings, LLC

Christopher H. Schmachtenberger, a director at Forward Air Corp, reports receiving Series B Preferred Units, Opco Class B Units, and Opco Series C-2 Units from Omni Investor Holdings, LLC through RC94 Partners.

Summary

• Christopher H. Schmachtenberger, a director of Forward Air Corp, filed a Form 4 detailing changes in beneficial ownership.
• The transactions involve the receipt of Series B Preferred Units, Opco Class B Units, and Opco Series C-2 Units from Omni Investor Holdings, LLC on March 14, 2024.
• These units were received by RC94 Partners, of which Schmachtenberger is a 50% general partner.
• Schmachtenberger disclaims beneficial ownership of the securities held by the Partnership, except to the extent of his pecuniary interest.
• The Series B Preferred Units and Opco Class B Units are exchangeable into shares of Forward Air Corp's common stock.
• The Opco Series C-2 Units will automatically convert into Opco Class B Units and Series B Preferred Units upon shareholder approval.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a transaction. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about changes in ownership.

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.

Management Comments

• The reporting person disclaims beneficial ownership of the securities held by the Partnership, except to the extent of his pecuniary interest therein.

Industry Context

This filing reflects changes in the ownership structure of Forward Air Corp, which is relevant to investors tracking insider activity and potential future dilution or changes in control.

Stakeholder Impact

• Shareholders may be interested in the potential future conversion of units into common stock, which could dilute existing shares.

Next Steps

• Potential shareholder approval for the conversion of Opco Series C-2 Units.

Key Dates