Company: FWDI
Filing Date: 2025-06-10
Form Type: PRE 14A
Source: 0001683168-25-004370
Chunk: 22

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 22
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 Cash              
 ($)(b)            |        |     | Stock  
 Awards 
 ($)(c) |   |     | Option Awards 
 ($)(d)(1)     |        |     | Non-Equity Incentive 
 Plan                 
 ($)(e)               |   |     | Change in Pension                                     
 Value and Nonqualified Deferred Compensation Earnings 
 ($)(f)                                                |   |     | All Other Compensation ($)(g) |   |     | Total  
 ($)(j) |         |
| Sangita Shah     |     |                   | 60,000 |     |        | – |     |               | 40,000 |     |                      | – |     |                                                       | – |     |                               | – |     |        | 100,000 |
| Sharon Hrynkow   |     |                   | 45,000 |     |        | – |     |               | 40,000 |     |                      | – |     |                                                       | – |     |                               | – |     |        |  85,000 |
| James Ziglar (2) |     |                   | 30,000 |     |        | – |     |               | 40,000 |     |                      | – |     |                                                       | – |     |                               | – |     |        |  70,000 |

_______________________

| (1) | Amounts reported represent the aggregate grant date fair value of awards  computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718 (“ASC 718”), disregarding estimates of forfeitures related to service-based vesting conditions. These amounts do not reflect the actual economic value that may be realized by the directors upon the vesting, exercise or settlement of the awards. |
| (2) | Mr. Ziglar resigned as a director effective February 2024, at which time all unvested equity awards were forfeited in accordance with their terms.                                                                                                                                                                                                                                                                                          |

| 14 |

<div align='center'>Executive Compensation</div>

The following table presents the
compensation earned in fiscal 2024 and 2023 by (i) all persons who served as our principal executive officer during fiscal 2024 and (ii)
our other most highly compensated executive officers who were serving as executive officers at the end of fiscal 2024 whose total compensation
exceeded $100,000 (collectively, our “Named Executive Officers” or “NEOs”).

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