Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 18

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 18
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-blowing or
the prompt reporting of illegal or unethical behavior. A copy of our Code of Ethics is available on our website at www.forwardindustries.com/investors/governance
and will be provided without charge upon written request to our Corporate Secretary.

Anti-Hedging Policies

Under the Company’s
Insider Trading Policy, all officers, directors and employees are prohibited from engaging in hedging, pledging or short-selling transactions.

Communication with our Board of Directors

Although we do not have a formal
policy regarding communications with the Board, shareholders may communicate with the Board by writing to us at Forward Industries, Inc.,
700 Veterans Memorial Highway, Suite 100, Hauppauge, New York 11788, Attention: Corporate Secretary, or by facsimile (631) 676-7748. Shareholders
who would like their submission directed to a member of the Board may so specify, and the communication will be forwarded, as appropriate.

Delinquent Section 16(a) Reports

Section 16(a) of the Exchange
Act requires our directors, executive officers, and persons who beneficially own more than 10% of our common stock to file initial reports
of ownership and changes in ownership of our common stock and other equity securities with the SEC. These individuals are required by
the regulations of the SEC to furnish us with copies of all Section 16(a) forms they file. Based solely on a review of the copies of the
forms furnished to us, and written representations from reporting persons, we believe that all filing requirements applicable to our officers,
directors and 10% beneficial owners were complied with during the fiscal year ended September 30, 2024.

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Related Person Transactions

The Company had a Buying
Agency and Supply Agreement (the “Supply Agreement”) with Forward Industries Asia-Pacific Corporation (“Forward China”).
Terence Wise, the Company’s former Chairman, Chief Executive Officer and greater than 10% beneficial owner, is the owner of Forward
China. Mr. Wise resigned in May 2025. In addition, Jenny P. Yu, a Managing Director of Forward China, owns more than 5% of the Company’s
common stock. The Supply Agreement provided that Forward China will act as the Company’s exclusive buying agent and supplier of
products in the Asia Pacific region. The Company purchased products at Forward China’s cost and paid Forward China a monthly fee
for services it provided under the Supply Agreement. Through March 2023, the monthly service