Company: FWDI
Filing Date: 2025-12-05
Form Type: 8-K
Source: 0001683168-25-008941
Chunk: 0

Company: Forward Industries, Inc.
Filing Date: 2025-12-05
Form: 8-K
Item: Item 5.02
Chunk 0
---
Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 1, 2025, the Board of Directors (the
“ Board”) of Forward Industries, Inc. (the “ Company”) appointed Mr. Ryan Navi as the Company’s Chief Investment
Officer. From September 2021 through September 2025, Mr. Navi was most recently a Managing Director of ParaFi Capital, an alternative
asset management and technology firm focused on blockchain and digital assets. From January 2021 to September 2021, Mr. Navi co-founded
and was the Managing Partner of Pyxis Capital Management, LLC, an alternative digital asset fund
ultimately absorbed by ParaFi. From July 2015 until January 2021, Mr. Navi held a number of positions (with the most recent being
a principal) at KKR & Co. Inc., a global investment firm that offers alternative asset management solutions. Prior to KKR, Mr.
Navi began his career as an investment banker in the mergers and acquisitions group at Citigroup. Mr. Navi holds a Bachelor of Arts in
Economics with Distinction from Cornell University. Mr. Navi is 35 years old. In consideration for his employment, Mr. Navi
will be paid a base salary of $400,000 per annum and be eligible to receive an annual bonus with a target payment of $200,000 per annum
(subject to the achievement of certain performance conditions to be set by the Board). Mr. Navi will also be eligible to receive
certain equity grants, subject to the terms and conditions of the Company’s 2021 Equity Incentive Plan and applicable award agreements.

There are no arrangements or understandings between
Mr. Navi and any other persons, pursuant to which he was selected as Chief Investment Officer, no family relationships among any of the
Company’s directors or executive officers and Mr. Navi, and there are no related party transactions involving Mr. Navi that would
require disclosure under Item 404(a) of Regulation S-K.

   2  

SIGNATURES