Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 72

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 72
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 proposal to adjourn the Annual Meeting to a later date and time to solicit additional proxies in favor of
one or more proposals submitted to a vote by the stockholders at the Annual Meeting. Any adjournment of the Annual Meeting for the purpose
of soliciting additional proxies will allow stockholders who have already sent in their proxies to revoke them at any time prior to the
time that the proxies are used.

Recommendation of the Board

The Board recommends a vote
“FOR” the Adjournment Proposal.

| 54 |

<div align='center'>OWNERSHIP OF OUR STOCK</div>

Voting Securities and Principal Holders Thereof

The following table sets forth
the number of shares of our common stock beneficially owned as of the record date by (i) those persons known by us to be owners of more
than 5% of our common stock, (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. Applicable percentages are based on 1,125,998 shares outstanding as of the record
date, adjusted as required by rules of the SEC. Beneficial ownership is determined under the rules of the SEC and generally includes voting
or investment power with respect to securities. Shares of common stock, underlying options and warrants, and convertible notes currently
exercisable or convertible, or exercisable or convertible within 60 days of the record date are deemed outstanding for computing the percentage
of the person holding such securities but are not deemed outstanding for computing the percentage of any other person. Unless otherwise
indicated in the footnotes to this table, Forward believes that each of the shareholders named in the table has sole voting and investment
power with respect to the shares of common stock indicated as beneficially owned by them. The table includes only vested options and warrants
or options and warrants that have or will vest and become exercisable within 60 days of the record date.

| Title of Class                          |     | Beneficial Owner                                                      |     | Amount of Beneficial Ownership |     | Percent Beneficially Owned |
| Directors and Named Executive Officers: |     |                                                                       |     |                                |     |                            |
| Common Stock                            |     | Michael Pruitt (1)                                                    |