Company: FWDI
Filing Date: 2025-06-10
Form Type: PRE 14A
Source: 0001683168-25-004370
Chunk: 3

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 3
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 your earliest convenience. This will ensure the presence of a quorum at the meeting. Promptly voting your shares via the Internet, by phone or by signing, dating, and returning the enclosed proxy card will save us the expenses and extra work of additional solicitation. An addressed envelope for which no postage is required if mailed in the United States is enclosed if you wish to vote by mail. Submitting your proxy now will not prevent you from voting your shares at the meeting if you desire to do so, as your proxy is revocable at your option. Your vote is important, so please act today!

<div align='center'>TABLE OF CONTENTS</div>

| Questions and Answers Regarding the Annual Meeting of Shareholders                                                    |  1 |
| PROPOSAL 1. ELECTION OF DIRECTORS                                                                                     |  7 |
| DIRECTORS AND EXECUTIVE OFFICERS                                                                                      |  8 |
| Corporate Governance                                                                                                  | 10 |
| Committees of the Board of Directors                                                                                  | 11 |
| Compensation of Directors                                                                                             | 14 |
| Executive Compensation                                                                                                | 15 |
| Summary Compensation Table                                                                                            | 15 |
| Named Executive Officer Employment Compensation Arrangements/Agreements                                               | 16 |
| Outstanding Equity Awards At Fiscal Year-End 2024                                                                     | 18 |
| PROPOSAL 2. RATIFICATION OF THE APPOINTMENT OF OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR FISCAL YEAR 2025 | 22 |
| PROPOSAL 3. REINCORPORATION                                                                                           | 25 |
| PROPOSAL 4. NASDAQ 20% ISSUANCE PROPOSAL ELOC                                                                         | 42 |
| PROPOSAL 5. NASDAQ 20% ISSUANCE PROPOSAL SERIES B                                                                     | 45 |
| PROPOSAL 6. ADJOURNMENT                                                                                               | 47 |
| OWNERSHIP OF OUR STOCK                                                                                                | 48 |
| OTHER MATTERS                                                                                                         | 49 |

<div align='center'>Forward Industries, Inc.

700 Veterans Memorial Highway, Suite 100

Hauppauge, New York 11788

(631) 547-3041

2025 ANNUAL MEETING OF SHAREHOLDERS

PROXY STATEMENT</div>

Why am I receiving these materials?

These proxy materials are
being sent to the holders of shares of the voting stock of Forward Industries, Inc., which we refer to as “Forward” or the