Company: FWDI
Filing Date: 2025-06-10
Form Type: PRE 14A
Source: 0001683168-25-004370
Chunk: 29

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 29
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 As a result, in all cases, the timing of grants of equity awards, including stock options, occurs independent of the release of
any material nonpublic information, and the Company does not time the disclosure of material nonpublic information for the purpose of
affecting the value of equity-based compensation.

During fiscal 2024, there were
no equity grants made to the Company executive officers during any period beginning four business days before the filing of a periodic
report or current report disclosing material non-public information and ending one business day after the filing or furnishing of such
report with the SEC.

| 19 |

<div align='center'>Pay-versus-Performance Table</div>

As required by Section 953(a)
of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, we are providing the following information
about the relationship between executive compensation actually paid and the Company’s financial performance. The amounts in the
table below are calculated in accordance with SEC rules and do not represent amounts actually earned or realized by our NEOs.

| Year 
 (a)  |     | Summary Compensation Table Total for PEO 
                                (b)(1)($) |     | Compensation Actually Paid to PEO 
                         (c)(2)($) |     | Average Summary Compensation Table Total for non-PEO Named Executive Officers 
                                                                     (d)(3)($) |     | Average Compensation Actually Paid to non-PEO Named Executive Officers 
                                                                 (e)(2) |     | Value of Initial Fixed $100 Investment Based On Total Shareholder Return 
                                                                (f)(4)($) |     | Net Income 
  (g)(5)($) |
| 2024 |     |                                  252,750 |     |                           252,750 |     |                                                                       290,663 |     |                                                                290,543 |     |                                                                       15 |     | -1,950,587 |
| 2023 |     |                                  337,000 |     |                           337,000 |     |                                                                       304,945 |     |                                                                302,996 |     |                                                                       32 |     | -3,716,651 |
| 2022 |     |                                  330,750 |     |                           330,750 |     |                                                                       286,498 |     |                                                                285,882 |     |                                                                       56 |     | -1,378,251 |

______________

| (1) | Represents the amounts