Forward Industries Board Changes Announced
Ticker: FWDI · Form: 8-K · Filed: Feb 3, 2025 · CIK: 38264
Sentiment: neutral
Topics: board-changes, management-changes
TL;DR
Forward Industries board shakeup: Director Roff out, new directors in.
AI Summary
Forward Industries, Inc. announced on January 28, 2025, a change in its board of directors. Specifically, the company reported the departure of Director Michael J. Roff, effective January 28, 2025. The filing also noted the election of new directors and changes in officer compensation arrangements, though specific names and amounts for these were not detailed in this excerpt.
Why It Matters
Changes in a company's board of directors can signal shifts in strategy, governance, or investor relations.
Risk Assessment
Risk Level: medium — Board changes can indicate underlying issues or strategic shifts that may impact the company's future performance.
Key Numbers
- 001-34780 — SEC File Number (Identifies the company's filing history with the SEC.)
- 13-1950672 — I.R.S. Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Forward Industries, Inc. (company) — Registrant
- Michael J. Roff (person) — Departing Director
- January 28, 2025 (date) — Effective date of director departure
- 001-34780 (company) — SEC File Number
- 13-1950672 (company) — I.R.S. Employer Identification No.
FAQ
Who has departed from the Forward Industries board of directors?
Director Michael J. Roff has departed from the Forward Industries board of directors, effective January 28, 2025.
What is the effective date of the reported board changes?
The earliest event reported, including the departure of Director Michael J. Roff, is dated January 28, 2025.
What other items are covered in this 8-K filing besides director departure?
This 8-K filing also covers the election of directors and compensatory arrangements of certain officers.
What is the state of incorporation for Forward Industries, Inc.?
Forward Industries, Inc. is incorporated in New York.
What is the primary business address of Forward Industries, Inc.?
The business address of Forward Industries, Inc. is 700 Veterans Memorial Hwy, Suite 100, Hauppauge, NY 11788.
Filing Stats: 517 words · 2 min read · ~2 pages · Grade level 11.1 · Accepted 2025-02-03 16:03:08
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share FORD The NASDAQ Capital Mar
- $30,000 — bruary 1, 2025. Mr. Pruitt will receive $30,000 for the first 12 months of his service
- $40,000 — and stock options with a fair value of $40,000 as calculated using the Black-Scholes v
Filing Documents
- forward_8k.htm (8-K) — 26KB
- 0001683168-25-000650.txt ( ) — 193KB
- ford-20241209.xsd (EX-101.SCH) — 3KB
- ford-20241209_lab.xml (EX-101.LAB) — 33KB
- ford-20241209_pre.xml (EX-101.PRE) — 22KB
- forward_8k_htm.xml (XML) — 3KB
02 Departure of Directors or Certain
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 28, 2025, the Board of Directors of Forward Industries, Inc. (the "Company") appointed Michael Pruitt as a director of the Company, as well as a member of the Audit and Risk Committee and Nominating Committee, effective February 1, 2025. Mr. Pruitt will receive $30,000 for the first 12 months of his service as a director and stock options with a fair value of $40,000 as calculated using the Black-Scholes valuation methodology. The stock options will vest 12 months from the effective date of the appointment, subject to continued service as a director of the Company on the vesting date. Since the beginning of fiscal 2024 through the date hereof, there have been no transactions with the Company, and there are currently no proposed transactions with the Company in which Mr. Pruitt had or will have a direct or indirect material interest within the meaning of Item 404(a) of Regulation S-K. 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FORWARD INDUSTRIES, INC. Date: February 3, 2025 By: /s/ Kathleen Weisberg Name: Kathleen Weisberg Title: Chief Financial Officer 3