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Jump-linked entities disclose major Forward Industries stake

Forward Industries, Inc. reported initial insider holdings for entities linked to Jump Trading Group.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

Forward Industries, Inc. reported initial insider holdings for entities linked to Jump Trading Group. J Digital 6 Cayman Ltd. directly holds 7,947,843 shares of common stock and a warrant exercisable at $0.0100 per share for up to 4,458,796 additional common shares, subject to trading-price hurdles and a 9.99% beneficial ownership cap. An additional 100 common shares are held indirectly through Jump Trading, LLC and related entities that are ultimately owned by Paul Gurinas and William DiSomma. The reporting persons are treated as directors by deputization through Saurabh Sharma’s board seat and their broader Jump Trading Group relationships.

Positive

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Insider J Digital 6 Cayman Ltd., J Digital 6 LLC
Role Insider | Insider
Type Security Shares Price Value
holding Warrant -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Warrant — 4,458,796 contracts (Direct); Common Stock — 7,947,843 shares (Direct); Common Stock — 100 shares (Indirect, See Footnotes)
Footnotes (8)
  1. F1. Represents 7,947,843 shares of Common Stock held directly by J Digital 6 Cayman Ltd. ("JD6 Cayman").
  2. F2. 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.
  3. F3. 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.
  4. F4. 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]
  5. F5. (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.
  6. F6. The Warrant has no expiration date.
  7. F7. 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.
  8. F8. 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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider holdings did entities linked to Forward Industries (FORD) report on Form 3?
Entities connected to Jump Trading Group reported significant holdings in Forward Industries. J Digital 6 Cayman Ltd. directly holds 7,947,843 common shares plus a large warrant position, and 100 additional shares are held indirectly through Jump Trading, LLC and affiliated ownership entities.

How many Forward Industries (FORD) shares does J Digital 6 Cayman Ltd. hold?
J Digital 6 Cayman Ltd. directly holds 7,947,843 shares of Forward Industries common stock. These shares are owned through a structure ultimately controlled by entities and individuals associated with Jump Trading Group, including J Digital 6 LLC, PXG, LLC, DYSO TC, LLC, Paul Gurinas, and William DiSomma.

What are the terms of the warrant held by J Digital 6 Cayman Ltd. in Forward Industries (FORD)?
J Digital 6 Cayman Ltd. holds a warrant exercisable for 4,458,796 Forward Industries common shares at an exercise price of $0.0100. The warrant becomes exercisable in three equal tranches tied to stock-price thresholds and has no expiration date, subject to detailed trading-price conditions.

What stock price conditions must be met for the Forward Industries (FORD) warrant tranches to become exercisable?
Each third of the warrant becomes exercisable once Forward Industries’ closing stock price reaches $27.75, $37.00, and $46.25 respectively, each level for 20 out of 30 trading days. These thresholds are subject to adjustment for stock splits, combinations, or similar corporate transactions.

Is there a beneficial ownership cap on the Forward Industries (FORD) warrant held by J Digital 6 Cayman Ltd.?
Yes. J Digital 6 Cayman Ltd. cannot exercise the warrant if doing so would cause it, together with aggregated affiliates under Section 13(d), to own more than 9.99% of Forward Industries’ outstanding common stock. This cap limits how much of the warrant can be exercised at any time.

Who may be deemed to beneficially own the Forward Industries (FORD) shares held by J Digital 6 Cayman Ltd.?
J Digital 6 LLC owns J Digital 6 Cayman Ltd., while PXG, LLC and DYSO TC, LLC each own 50% of J Digital 6 LLC. PXG and DYSO are ultimately controlled by Paul Gurinas and William DiSomma, who may be deemed to beneficially own J Digital 6 Cayman’s Forward Industries shares.

How are Jump Trading Group entities connected to Forward Industries (FORD) board representation?
For Section 16 purposes, the reporting entities may be treated as directors by deputization. Saurabh Sharma, Chief Investment Officer of Jump Crypto within Jump Trading Group, serves as a Forward Industries director, linking JD6 Cayman, JD6 Delaware, Jump Trading, Jump Financial, and Jump Trading Holdings to the issuer’s board representation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Estimated average burden
hours per response: 0.5
1. Name and Address of Reporting Person*
J Digital 6 Cayman Ltd.
(Last) (First) (Middle)
P.O. BOX 309, UGLAND HOUSE
(Street)
GRAND CAYMAN E9 KY1-1104
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
03/03/2026 		3. Issuer Name and Ticker or Trading Symbol
Forward Industries, Inc. [ FWDI ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
Officer (give title below) X Other (specify below)
Director by deputization
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 7,947,843 D(1)(2)(8)
Common Stock 100 I See Footnotes(3)(8)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant (4)(5) (6) Common Stock 4,458,796 $0.01 D(2)(7)(8)
1. Name and Address of Reporting Person*
J Digital 6 Cayman Ltd.
(Last) (First) (Middle)
P.O. BOX 309, UGLAND HOUSE
(Street)
GRAND CAYMAN E9 KY1-1104
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director 10% Owner
Officer (give title below) X Other (specify below)
Director by deputization
1. Name and Address of Reporting Person*
J Digital 6 LLC
(Last) (First) (Middle)
600 WEST CHICAGO AVENUE, SUITE 600
(Street)
CHICAGO IL 60654
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director 10% Owner
Officer (give title below) X Other (specify below)
Director by deputization
Explanation of Responses:
1. Represents 7,947,843 shares of Common Stock held directly by J Digital 6 Cayman Ltd. ("JD6 Cayman").
2. 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.
3. 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.
4. 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]
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.
6. The Warrant has no expiration date.
7. 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.
8. 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.
Remarks:
Exhibit 99.1: Joint Filer Information. Each of the Reporting Persons expressly disclaims beneficial ownership of the securities described herein except to the extent of such person's pecuniary interest therein.
J Digital 6 Cayman Ltd., /s/ Samarth Haribhakti, Director 03/13/2026
J Digital 6 LLC, /s/ Matthew Hinerfeld, Authorized Signatory 03/13/2026
DYSO TC, LLC, /s/ William DiSomma, Manager 03/13/2026
PXG, LLC, /s/ Paul Gurinas, Manager 03/13/2026
William DiSomma, /s/ William DiSomma 03/13/2026
Paul Gurinas, /s/ Paul Gurinas 03/13/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

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