{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-000462","form_type":"8-K","ticker":"FWRD","cik":"0000912728","company_name":"FORWARD AIR CORP","filed_at":"2025-01-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:06.774540+00:00","generated_at":"2026-05-28T11:57:18.376083+00:00","sec_items":["1.01","2.02","7.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Forward Air announces strategic review, amends credit agreement; reaffirms FY2024 guidance","bullets":["Board of Directors launches review of strategic alternatives to maximize shareholder value.","Credit agreement amended: max consolidated first lien net leverage ratio raised to 6.75:1.00 through Sep 2025, stepping down to 5.50:1.00.","Revolving credit commitments reduced from $340M to $300M; could further drop $50M if leverage exceeds 6.50x unless $50M prepayment made.","Anti-cash hoarding covenant requires prepayment if unrestricted cash exceeds $120M per month through Dec 2026.","Reaffirms previously issued FY2024 financial guidance (no specific numbers provided)."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-000462","json":"https://secwatch.observer/filing/0001628280-25-000462.json","markdown":"https://secwatch.observer/filing/0001628280-25-000462.md","text":"https://secwatch.observer/filing/0001628280-25-000462.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/912728/000162828025000462/0001628280-25-000462-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/912728/000162828025000462/fwrd-20241230.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-28T11:57:18.376083+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}