Company: FWDI
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001683168-25-009068
Chunk: 605

Company: Forward Industries, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 4
Chunk 605
---
Not Applicable.

 30 

PART II

    ITEM 5.
    MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market for Common Stock

The principal market for our
common stock is Nasdaq. Our common stock is traded under the symbol “FWDI”.

On December 5, 2025, the closing
price for our common stock was $8.20.

Holders of Common Stock

At December 5, 2025, there were
approximately 280 holders of record of our common stock. Because many of our shares of common stock are held by brokers and other institutions
on behalf of shareholders, we are unable to estimate the total number of shareholders represented by these record holders.

Dividends

We have not paid any cash dividends
on our common stock since 1987 and do not plan to pay cash dividends in the foreseeable future. The payment of dividends in the future,
if any, will depend upon our results of operations, as well as our short-term and long-term cash availability, net working capital, working
capital needs, and other factors, as determined by our Board of Directors. Currently, except as may be provided by applicable laws, there
are no contractual or other restrictions on our ability to pay dividends if we were to decide to declare and pay them.

Issuer Purchases of Equity Securities

On November 3, 2025, the Company’s Board of
Directors authorized a share repurchase program permitting the Company to repurchase up to $1 billion of its common stock. Repurchases
may be made from time to time through open-market purchases, block trades, and/or privately negotiated transactions (including accelerated
share repurchases), and may include Rule 10b5-1 trading plans. Any repurchase will be executed in compliance with Rule 10b-18 of the Securities
Exchange Act of 1934. The Company may determine the timing, amount, and method of repurchases based on market conditions, share price,
legal and regulatory requirements, and other considerations in its sole discretion. The program does not obligate the Company to repurchase
any specific number of shares and may be modified, suspended, or terminated at any time. Through the date of this filing, no shares have
been repurchased under this program.

ITEM 6.        RESERVED

Not applicable.

ITEM 7.        MANAGEMENT’S
DISCUSSION AND ANALYSIS