Company: FWDI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006141
Chunk: 28

Company: Forward Industries, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 28
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 from the date of grant and expire five years from the date of grant. The options have a
grant-date fair value of $3.29 per share and an aggregate grant-date fair value of $120,000, which will be recognized, net of forfeitures,
ratably over the vesting period.

On February 1, 2025, the
Company granted options to one of its non-employee directors to purchase 14,000 shares of its common stock at an exercise price of $6.01
per share. The options vest one year from the date of grant and expire 5 years from the date of grant. The options have a grant-date fair
value of $2.90 per share and an aggregate grant-date fair value of $40,000, which will be recognized, net of forfeitures, ratably over
the vesting period.

On October 1, 2024, the Company
granted options to two of its non-employee directors to purchase an aggregate of 48,000 shares of its common stock at an exercise price
of $3.73 per share. The options vest one year from the date of grant and expire five years from the date of grant. The options have a
grant-date fair value of $1.67 per share and an aggregate grant-date fair value of $80,000, which will be recognized, net of forfeitures,
ratably over the vesting period.

On October 1, 2023, the Company
granted options to three of its non-employee directors to purchase an aggregate of 33,000 shares of its common stock at an exercise price
of $7.60 per share. The options vested one year from the date of grant, expire five years from the date of the grant and 11,000 were forfeited
prior to vesting. The options have a grant-date fair value of $3.60 per share and an aggregate grant-date fair value of $120,000, which
was recognized, net of forfeitures, ratably over the vesting period.

On May 31, 2023, the Company
granted options to three of its non-employee directors to purchase an aggregate of 12,000 shares of its common stock at an exercise price
of $10.30 per share. The options vested six months from the date of grant and expire five years from the date of the grant. The options
have a grant-date fair value of $4.