Company: FWDI
Filing Date: 2025-11-14
Form Type: 424B5
Source: 0001683168-25-008451
Chunk: 75

Company: Forward Industries, Inc.
Filing Date: 2025-11-14
Form: 424B5
Chunk 75
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 to 
 acquisitions or changes in control;                                                                                                     |
| · | provide that the authorized number of directors may be changed only by a resolution adopted by the Board;                               |
| · | provide that, for interim periods before the next meeting of the stockholders held for the election of directors,                       
 all vacancies, including newly created directorships, may, except as otherwise required by law, be filled by the affirmative vote of a  
 majority of directors then in office, even if less than a quorum;                                                                       |

| 35 |

| · | do not provide for cumulative voting rights (therefore allowing the holders of a majority of the shares of                              
 common stock entitled to vote in any election of directors to elect all of the directors standing for election, if they should choose); |

| · | provide that special meetings of stockholders may be called only by the President, the Chairman of the Board,                          
 by the Board of Directors pursuant to a resolution adopted by the majority of the “entire board” (as defined in the Bylaws),           
 or Qualified Shareholders (as defined in the Bylaws) holding at least 30% of all votes entitled to be cast on any issue proposed to be 
 considered at the special meeting;                                                                                                     |

| · | provide advance notice provisions applicable to a stockholder who wishes to nominate a director or propose 
 other business to be considered at a stockholders’ meeting.                                                |

| 36 |

<div align='center'>PLAN
OF DISTRIBUTION</div>

We or the selling securityholders
may sell the securities being offered hereby in one or more of the following ways from time to time:

| · | to underwriters for resale to purchasers; |

| · | directly to purchasers; |

| · | through agents or dealers to purchasers; or |

| · | through a combination of any of these methods. |

In addition, we or the selling
securityholders may enter into derivative or hedging transactions with third parties, or sell securities not covered by this prospectus
to third parties in privately negotiated transactions. In connection with such a transaction, the third parties may sell securities covered
by and pursuant to this prospectus and any accompanying prospectus supplement. If so, the third party may use securities borrowed from
us or the selling securityholders or others to settle such sales and may use securities received from us to close out any related short
positions. We or the selling securityholders may also loan or pledge securities covered by this prospectus and any accompanying prospectus
supplement to