Company: FWDI
Filing Date: 2025-09-18
Form Type: SCHEDULE 13D
Source: 0001104659-25-091229
Chunk: 1

Company: Forward Industries, Inc.
Filing Date: 2025-09-18
Form: SCHEDULE 13D
Chunk 1
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 Investor Agreement, for so long as MCMF LP (and its Affiliates or any "group" of which MCMF LP or any of its Affiliates is a member) continues to beneficially own at least 5% of the Issuer's issued and outstanding shares of Common Stock, MCMF LP has the right to nominate one individual for election to the Board of Directors of the Issuer (the "Board"), who shall also be chairperson of the Board (such nominee, the "Investor Designee"), and the Issuer agreed to use its reasonable best efforts to cause the Investor Designee to be elected to the Board (including recommending that the Issuer's stockholders vote in favor of the election of the Investor Designee).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
 Pursuant to the Securities Purchase Agreement, on September 6, 2025, Mr. Samani entered into a Lock-Up Agreement (the "Lock-Up Agreement"), with respect to the Common Stock acquired by Mr. Samani in the Private Placement (the "Lock-Up Shares"), pursuant to which Mr. Samani agreed not to (1) offer, pledge, sell, contract to sell, grant, lend, or otherwise transfer or dispose of, directly or indirectly, any Lock-Up Shares, or any securities convertible into or exercisable or exchangeable for Shares or Pre-Funded Warrants, whether now owned or thereafter acquired by Mr. Samani or with respect to which Mr. Samani has or thereafter acquires the power of disposition (collectively, the "Lock-Up Securities"); (2) enter into any swap, hedge, Short Sale (as defined in the Securities Purchase Agreement) or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Lock-Up Securities, whether any such transaction is to be settled by delivery of Lock-Up Securities, in cash or otherwise; (3) make any demand for or exercise any right with respect to the registration of any Lock-Up Securities; or (4) publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement relating to any Lock-Up Securities, for a period ("Lock-Up Period") beginning on and including the date of such Lock-Up Agreement through and ending with respect to each Tranche (as defined below) upon the applicable Release Time (as defined below), subject to certain customary exceptions. With respect to