Company: FWDI
Filing Date: 2025-01-17
Form Type: 10-K/A
Source: 0001683168-25-000424
Chunk: 17

Company: Forward Industries, Inc.
Filing Date: 2025-01-17
Form: 10-K/A
Chunk 17
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 by security holders |     |                                                                                   |      – |     |                                             |      – |     |                                                                                             |         – |
| Total                                                      |     |                                                                                   | 81,429 |     |                                             |        |     |                                                                                             | 1,242,808 |

No more securities are
being issued under the 2011 Long Term Incentive Plan.

| 9 |

The Company’s Policies and Practices Related to the Grant of Certain Equity Awards Close in Time to the Release of Material Nonpublic Information

The Company does not have
any formal policy that requires the Company to grant, or avoid granting, equity-based compensation to its executive officers at certain
times. The timing of any equity grants to executive officers in connection with new hires, promotions, or other non-routine grants is
tied to the event giving rise to the award (such as an executive officer’s commencement of employment or promotion effective date).
As a result, in all cases, the timing of grants of equity awards, including stock options, occurs independent of the release of any material
nonpublic information, and the Company does not time the disclosure of material nonpublic information for the purpose of affecting the
value of equity-based compensation.

During fiscal 2024, there
were no equity grants made to the Company executive officers during any period beginning four business days before the filing of a periodic
report or current report disclosing material non-public information and ending one business day after the filing or furnishing of such
report with the SEC.

| 10 |

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED SHAREHOLDER MATTERS

The following table sets
forth the number of shares of our common stock and Series A-1 Convertible Preferred Stock (“Series A-1”) beneficially owned
as of January 17, 2025 by (i) those persons known by us to be owners of more than 5% of our common stock and Series A-1, (ii) each director,
(iii) our Named Executive Officers, and (iv) all of our executive officers and directors as a group. Unless otherwise specified in the
notes to this table, the address for each person is: c/o Forward Industries, Inc., 700 Veterans Memorial Highway, Suite 100, Hauppauge,
New York 11788.

|                                                             |     | Common Stock Shares Beneficially 
 Owned                            |         |     |         |       |     | Series A-1 Convert