Company: FWDI
Filing Date: 2025-08-15
Form Type: DEF 14A
Source: 0001683168-25-006240
Chunk: 6

Company: Forward Industries, Inc.
Filing Date: 2025-08-15
Form: DEF 14A
Chunk 6
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 shares held in street name and do not provide the organization that holds your shares with specific
voting instructions, the organization that holds your shares may generally vote at its discretion on routine matters but cannot vote
on non-routine matters. If the organization that holds your shares does not receive instructions from you on how to vote your shares
on a non-routine matter by the deadline specified in their voting instruction form, the organization will not have the authority to vote
your shares on that proposal. This is generally referred to as a “broker non-vote.” In tabulating the voting results for
any particular proposal, shares that constitute broker non-votes are not considered entitled to vote on that proposal. Thus, broker non-votes
will not affect the outcome of any matter being voted on at the meeting.

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

Proposals 1 and 3 are considered
routine and Proposal 2 is 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     |
| Increase in Authorized Shares             | Majority of outstanding shares of common stock.                                                       | Yes                                                            | Same as vote “Against.”   |
| Nasdaq 20% Issuance Proposal - Series A-1 | 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 Special Meeting        | Majority of the shares present in person or represented by proxy at the meeting and entitled to vote. | Yes                                                            | Same as a vote “Against.” |

| 3 |

What Are the Voting Procedures?

You may vote in favor of each
proposal or against each proposal, or in favor of some proposals and against others, or you may abstain from voting on any of these proposals.
You should specify your respective choices on the accompanying proxy card or your voting instruction form.

Is My Proxy Revocable?

Record Holder. You
may revoke your proxy and reclaim your right to vote up to and including the day of the Special Meeting by (1) giving written notice to
the Corporate Secretary of Forward, (2) delivering a proxy