Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 6

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 6
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. Thus, broker non-votes will not affect the
outcome of any matter being voted on at the meeting.

Important Rule Affecting Beneficial Owners Holding Shares In Street Name

Brokers may no longer use discretionary
authority to vote shares on the election of directors. Please submit your voting instruction form so your vote is counted.

Which Proposals are Considered “Routine” or “Non-Routine”?

Proposals 2 and 7 are considered
routine, and Proposal 1, 3, 4, 5 and 6 are considered non-routine. A broker or other nominee cannot vote without instructions on non-routine
matters.

How Many Votes are Needed for Each Proposal to Pass and what is the effect of a Broker Non-Vote and Abstention?

| Proposals                                                     | Vote                                                                                                              
 Required                                                                                                          | Broker Discretionary Votes Allowed                             | Effect of Abstentions (1) |
| Election of Directors                                         | Plurality, which means that the three nominees receiving the highest number of affirmative votes will be elected. | No. However, broker non-votes have no effect on this proposal. | No effect.                |
| Ratification of Independent Registered Public Accounting Firm | Majority of the shares present in person or represented by proxy at the meeting and entitled to vote.             | Yes.                                                           | Same as a vote “Against.” |
| Approval of the Reincorporation                               | Majority of outstanding shares of common stock.                                                                   | No. Vote Against.                                              | Same as a vote “Against.” |
| Nasdaq 20% Issuance Proposal ELOC                             | Majority of the shares present in person or represented by proxy at the meeting and entitled to vote.             | No. However, broker non-votes have no effect on this proposal. | No effect.                |
| Nasdaq 20% Issuance Proposal - Series B                       | Majority of the shares present in person or represented by proxy at the meeting and entitled to vote.             | No. However, broker non-votes have no effect on this proposal. | No effect.                |
| Approval                                                      
 of the Amendment to the 2021 Equity Incentive Plan            | Majority of the shares present in person or represented by proxy at the                                           
 meeting and entitled to vote.                                                                                     | No. However, broker non-votes have no effect on this proposal. | No effect.                |
| Adjournment of the Annual Meeting                             | Majority of the shares present in person or