Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 65

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 65
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2021 Plan, the closing price of our common
stock was $6.49 per share. Full payment of the exercise price must be made at the time of such exercise either in cash or bank check or
in another manner approved by the Committee.

Stock Appreciation Rights

A stock appreciation right (“SAR”) is
the right to receive payment of an amount equal to the excess of the fair market value of a share of common stock on the date of exercise
of the SAR over the exercise price. The exercise price of a SAR may not be less than the fair market value of a share of common stock
on the grant date. SARs may be granted alone or in tandem with an option granted under the 2021 Plan.

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Restricted Stock

A restricted stock award is an award of actual shares
of common stock which may be subject to certain restrictions for a period of time determined by the Committee. Restricted stock may be
held by the Company or in escrow or delivered to the participant pending the release of the restrictions. Participants who receive restricted
stock awards generally have the rights and privileges of shareholders regarding the shares of restricted stock during the restricted period,
including the right to vote and the right to receive dividends, provided that any cash or stock dividends with respect to the restricted
stock will be withheld by the Company for the participant’s account, and interest may be credited on the amount of the cash dividends
withheld at a rate and subject to such terms as determined by the Committee. The cash dividends or stock dividends so withheld will be
distributed to the participant in cash or, at the discretion of the Committee, in shares of common stock having a fair market value equal
to the amount of such dividends upon the release of restrictions on such restricted stock, unless such restricted stock is forfeited.

Restricted Stock Units

A restricted stock unit (“RSU”) is an
award of hypothetical common stock units having a value equal to the fair market value of an identical number of shares of common stock,
which may be subject to certain restrictions for a period of time determined by the Committee. No shares of common stock are issued at
the time an RSU is granted, and the Company is not required to set aside any funds for the payment of any RSU award. Because no shares
are outstanding, the participant does not have any rights as a shareholder. The Committee may grant RSUs with a deferral feature (deferred
stock units or DSUs), which defers settlement of the RSU beyond the vest