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Shawn Stewart received $5.6M in total compensation as Chief Executive Officer of FORWARD AIR CORP in FY2025. The largest component was $4.0M in stock awards. That’s up 22% from FY2024. Source: SEC DEF 14A.
In fiscal year 2025, Shawn Stewart, Chief Executive Officer of FORWARD AIR CORP (FWRD), received total compensation of $5.6 million.
Shawn Stewart's compensation breakdown includes: base salary of $900K, stock awards valued at $4.0 million, non-equity incentive compensation of $617K, and other compensation of $6K.
Compared to fiscal year 2024, Shawn Stewart's total compensation increased 22% from $4.6 million to $5.6 million.
FORWARD AIR CORP's top 5 named executive officers received combined total compensation of $12.8 million in fiscal year 2025.
The named executive officers disclosed in FORWARD AIR CORP's 2025 proxy statement are:Shawn Stewart (Chief Executive Officer) with total compensation of $5.6 million, Jamie Pierson (Chief Financial Officer) with total compensation of $3.1 million, Jerome Lorrain (Executive Chairman) with total compensation of $1.5 million, Michael L. Hance (Chief Legal Officer and Secretary) with total compensation of $1.4 million, and Eric Brandt (Chief Commercial Officer) with total compensation of $1.3 million.
Source Filing
Executive Record
Shawn Stewart
Chief Executive Officer
Reported Pay
$5.6MSummary compensation table total · FY2025
Findings
Reviewing FY2025 compensation of $5.6M against -22% shareholder return and the latest filing-backed pay disclosures.
Reported pay changed +22%; spread versus stock performance is pending computation.
Evidence is sourced from the latest executive compensation filing and return series for FWRD.
Team view
5 executives
Chief Executive Officer
Total PayFY2025
$5.6M
Chief Financial Officer
Total PayFY2025
$3.1M
Executive Chairman
Total PayFY2025
$1.5M
Chief Legal Officer and Secretary
Total PayFY2025
$1.4M
Chief Commercial Officer
Total PayFY2025
$1.3M
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01FY2025 total compensation breakdown
$5.6M total compensation
Shawn Stewart earned $5.6M in FY2025— here's how that breaks down.
$4.0M
73% of total
$900.0K
16% of total
$617.4K
11% of total
$5.9K
0% of total
Activity timeline · FY2025
Recent events from filings
Apr 29, 2026
Shawn Stewart Annual Cash Incentive Plan
Apr 29, 2026
Jamie Pierson Annual Cash Incentive Plan
Apr 29, 2026
Michael L. Hance Annual Cash Incentive Plan
Apr 29, 2026
Eric Brandt Annual Cash Incentive Plan
Apr 29, 2026
Shawn Stewart grant (Annual Cash Incentive Plan)
Jul 11, 2025
Jerome Lorrain psu (7,046 target units, 3,523 threshold, 14,092 maximum, Grant FV $300,019)
Jul 11, 2025
Jerome Lorrain Special Grant (25,000 target units, 25,000 maximum, Grant FV $684,250)
Jul 11, 2025
Jerome Lorrain stock (Grant FV $199,993)
A pay-performance summary will appear here once the verdict loads above.
02Pay changes vs. stock performance
1 year of data
Peer context
Dashed line marks the small-cap median compensation benchmark for companies around $422.2M market cap, based on 211 peers in this size band.
03Recent insider trades by officers and directors
~32 trades
04Showing FY2025 data (latest available)
FY2026does not include director compensation in our current dataset, so we're showing the latest board table we found.
We're loading the latest director compensation and board makeup.
05Take action on executive compensation
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06For analysts and deep research
Historical compensation data from latest proxy filing
| Year | Executive | Salary | Bonus & Incentive | Stock Awards | Option Awards | Other Adj. | Total |
|---|---|---|---|---|---|---|---|
| 2025 | $0.90M | $0.62M | $4.04M | $0.00M | $0.01M | $5.56M | |
| 2024 | $0.59M | $0.74M | $3.23M | $0.00M | $0.00M | $4.56M |
Salary = base cash pay. Bonus & Incentive combines annual bonus and non-equity plans. Equity amounts are grant-date fair values. Other Adj. captures pension changes, perquisites, and any reconciliation items so the total matches the reported figure.
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FORWARD AIR CORP (FWRD) — Key Facts
Last updated Jul 11, 2026 · DEF 14A filed Apr 29, 2026
| CEO | Shawn Stewart, Chief Executive Officer |
|---|---|
| Fiscal year | FY2025 |
| Total compensation | $5.6M |
| Base salary | $900K |
| Stock awards | $4.0M |
| Other compensation | $6K |
| Year-over-year change | +22% |
| Source | DEF 14A, 2026-04-29 |
Shawn Stewart, the Chief Executive Officer of FORWARD AIR CORP, received total compensation of $5.6 million in fiscal year 2025. This includes base salary of $900,000 and stock awards valued at $4.0 million.
Shawn Stewart's base salary at FORWARD AIR CORP is $900,000 per year as of fiscal year 2025. However, total compensation including stock awards, bonuses, and other benefits is $5.6 million.
FORWARD AIR CORP's CEO, Shawn Stewart, earned $5.6 million in total compensation for fiscal year 2025. The majority of this compensation comes from stock awards ($4.0 million) rather than base salary ($900,000).