0001104659-26-051629
SEC filingForward Air Corporation announced that two directors designated by Ridgemont Equity Partners will not stand for re-election at the June 2026 annual meeting, prompting a Board size reduction from seven to five directors.
The departure of Messrs. Anderson and Edwards represents a significant shift in the Board composition of Forward Air Corporation. Both individuals were designated by Ridgemont Equity Partners pursuant to a Shareholders Agreement executed in January 2024, suggesting their exits are part of a coordinated change by the investor rather than individual decisions. Ridgemont has explicitly reserved its rights to designate directors in the future, indicating it retains influence under the existing agreement. The simultaneous decision to reduce the Board size from seven to five directors will consolidate governance among a smaller group following the 2026 Annual Meeting. The Company explicitly stated that the departures were not due to disagreements on operations, policies, or practices, which mitigates immediate concern regarding internal conflict or operational issues.