Forward Industries (FORD) insiders outline major warrant and share holdings
Filing Impact
Filing Sentiment
Form Type
3/A
Rhea-AI Filing Summary
Forward Industries, Inc. filed an amended insider ownership report showing that J Digital 6 Cayman Ltd. holds 7,947,843 shares of Common Stock directly and a warrant linked to 4,458,796 additional shares at an exercise price of $0.0100 per share.
The warrant has no expiration date and becomes exercisable in three equal tranches only if the stock trades at or above $27.75, $37.00, and $46.25 for 20 out of 30 trading days at each level. J Digital 6 Cayman Ltd. is owned through a chain of entities ultimately controlled by William DiSomma and Paul Gurinas, who may be deemed to beneficially own these holdings, and also may be deemed to beneficially own 100 additional shares held by Jump Trading, LLC.
The filing notes that the warrant cannot be exercised if doing so would cause J Digital 6 Cayman Ltd. and its affiliates to beneficially own more than 9.99% of Forward Industries’ outstanding Common Stock. The reporting entities are treated as directors by deputization through Saurabh Sharma’s service on the board.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
J Digital 6 Cayman Ltd., J Digital 6 LLC, DYSO TC, LLC, PXG, LLC, DiSomma William Joseph, Gurinas Paul Andrew
Role
Insider | Insider | Insider | Insider | Insider | Insider
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Warrant | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Warrant — 4,458,796 shares (Direct);
Common Stock — 7,947,843 shares (Direct);
Common Stock — 100 shares (Indirect, See Footnotes)
Footnotes (1)
- Represents 7,947,843 shares of Common Stock held directly by J Digital 6 Cayman Ltd. ("JD6 Cayman"). JD6 Cayman is owned by J Digital 6 LLC ("JD6 Delaware"). DYSO TC, LLC ("DYSO") and PXG, LLC ("PXG") each own 50% of JD6 Delaware. PXG and DYSO are ultimately controlled by Paul Gurinas and William DiSomma, respectively. As a result, JD6 Delaware, PXG, DYSO, Mr. Gurinas, and Mr. DiSomma may be deemed to beneficially own the shares held by JD6 Cayman. The address for JD6 Cayman is P.O. Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands. The address for the Reporting Persons (other than JD6 Cayman) is 600 West Chicago Ave., Suite 600, Chicago, IL 60654. Represents 100 shares of Common Stock that Mr. Gurinas and Mr. DiSomma may be deemed to beneficial own. These shares are held directly by Jump Trading, LLC ("Jump Trading"). Jump Trading Holdings, LLC ("Jump Trading Holdings"), wholly-owns Jump Trading; Jump Financial, LLC ("Jump Financial"), beneficially owns Jump Trading Holdings; and Mr. DiSomma and Mr. Gurinas beneficially own Jump Financial. The Warrant was issued on September 10, 2025. The Warrant will become exercisable, if at all, as follows: (A) one-third (1/3) of the Warrant will be exercisable on and after the first date on which the closing trading price of the Common Stock on its principal stock exchange is equal to or greater than $27.75 (as adjusted for stock splits, combinations and other similar transactions) for 20 out of 30 trading days; [continued in Footnote 5] (B) one-third (1/3) of the Warrant will become exercisable on and after the first date on which the closing trading price of the Common Stock on its principal stock exchange is equal to or greater than $37.00 (as adjusted for stock splits, combinations and other similar transactions) for 20 out of 30 trading days; and (C) one-third (1/3) of the Warrant will become exercisable on and after the first date on which the closing trading price of the Common Stock on its principal stock exchange is equal to or greater than $46.25 (as adjusted for stock splits, combinations and other similar transactions) for 20 out of 30 trading days. The Warrant has no expiration date. The Warrant is held directly by JD6 Cayman exercisable for 4,458,796 shares of Common Stock subject to the conditions to exercise described above. JD6 Cayman may not exercise any portion of the Warrant if, after giving effect to such exercise, JD6 Cayman, together with any other persons whose beneficial ownership would be aggregated with JD6 Cayman for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, would beneficially own more than 9.99% of the outstanding shares of Common Stock. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each of the Reporting Persons may be deemed to be a director by deputization of the Issuer. Saurabh Sharma was elected as a director of the Issuer at the Issuer's annual shareholders' meeting on March 3, 2026. Mr. Sharma is the Chief Investment Officer of Jump Crypto, the crypto division of Jump Trading Group. Jump Trading Group refers to a number of affiliated entities (including JD6 Cayman, JD6 Delaware, Jump Trading, Jump Financial, and Jump Trading Holdings) that focus on proprietary trading and investment activities across global financial markets. Mr. DiSomma and Mr. Gurinas are the co-founders and ultimate beneficial owners of Jump Trading Group.
FAQ
What insider holdings are reported for Forward Industries (FORD) in this Form 3/A?
The filing reports 7,947,843 Forward Industries Common shares held directly by J Digital 6 Cayman Ltd., plus a warrant tied to 4,458,796 additional shares. It also notes 100 shares held by Jump Trading, LLC that may be beneficially owned by DiSomma and Gurinas.
What are the key terms of the Forward Industries (FORD) warrant held by J Digital 6 Cayman Ltd.?
The warrant has a $0.0100 exercise price and no expiration date, covering 4,458,796 Forward Industries shares. It vests in three equal tranches only if the stock trades at or above $27.75, $37.00, and $46.25 for 20 of 30 trading days at each level.
What ownership limitation applies to the Forward Industries (FORD) warrant in this filing?
The warrant includes a 9.99% beneficial ownership cap. J Digital 6 Cayman Ltd. cannot exercise the warrant if, after exercise, it and any aggregated affiliates would beneficially own more than 9.99% of Forward Industries’ outstanding Common Stock under Section 13(d) rules.
Why are the reporting persons in this Forward Industries (FORD) Form 3/A described as directors by deputization?
The filing explains that each reporting person may be deemed a director by deputization because Saurabh Sharma, Chief Investment Officer of Jump Crypto, serves on Forward Industries’ board. He is associated with affiliated entities including J Digital 6 Cayman Ltd. and other Jump Trading Group entities.