FORD Form 4: Sharon Hrynkow Receives 45,000 Vested Options

Rhea-AI Filing Summary

Sharon Hrynkow, a director of Forward Industries, Inc. (FORD), was granted 45,000 stock options on 09/08/2025. The options have an exercise price of $18.50, are exercisable immediately on 09/08/2025, and expire on 09/08/2030. The filing states the grant was approved by the issuer’s board and exempt from Section 16(b) under Rule 16b-3. Following the reported transaction, the filing shows beneficial ownership of 45,000 underlying shares via the option grant. The options are described as fully vested and were granted under the company’s 2021 Equity Incentive Plan.

Positive

• Board-approved grant demonstrating procedural compliance and Rule 16b-3 exemption
• Immediate vesting aligns director incentives with shareholder value
• Clear disclosure of exercise price, exercisable date, and expiration improves transparency

Negative

• Potential dilution if 45,000 options are exercised into common shares
• No contextual metrics provided (e.g., company market cap or outstanding shares) to assess materiality

Insights

Securities Analyst

TL;DR: Director received 45,000 fully vested options at $18.50, a routine board-approved equity grant with limited immediate market impact.

The grant to a director of 45,000 options exercisable immediately and expiring in five years is a standard form of equity-based compensation. Because the filing indicates board approval and reliance on Rule 16b-3, the grant is compliant with insider transaction rules. Material impact depends on the company’s market capitalization and outstanding shares, which are not disclosed in this filing. The disclosed information shows alignment of the director with shareholder outcomes but also implies potential dilution if options are exercised.

Corporate Governance Expert

TL;DR: Governance appears standard: board-approved, Rule 16b-3 exemption, fully vested award under the 2021 plan.

The Form 4 documents a transparent, board-authorized equity award to a director, consistent with common governance practices for director compensation or retention. The immediate vesting is explicitly noted, and the instrument is governed by the 2021 Equity Incentive Plan. The filing does not include rationale, benchmarking, or how this grant fits the director’s total compensation package, so assessment of governance prudence is limited to the procedural compliance shown.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hrynkow Sharon Hemond

(Last) (First) (Middle)

C/O FORWARD INDUSTRIES, INC.

700 VETERANS MEMORIAL HIGHWAY, SUITE 100

(Street)

HAUPPAUGE NY 11788

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Forward Industries, Inc. [ FORD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (Right to Buy)	$18.5	09/08/2025		A		45,000		(1)	09/08/2030	Common Stock	45,000	(2)	45,000	D

Explanation of Responses:

1. The grant of the Issuer's stock options was exempt from Section 16(b) of the Securities Exchange Act of 1934 by virtue of Rule 16b-3 promulgated thereunder, as it was approved by the Issuer's Board of Directors. The stock options are fully vested and granted under the Issuer's 2021 Equity Incentive Plan.

2. Not applicable.

	/s/ Sharon Hrynkow	09/10/2025
	** 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 4 (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.

FAQ

What did Sharon Hrynkow report on Form 4 for FORD?

The Form 4 reports a grant of 45,000 stock options to Sharon Hrynkow on 09/08/2025 with an $18.50 exercise price, exercisable on 09/08/2025 and expiring 09/08/2030.

Are the options reported on the FORD Form 4 vested immediately?

Yes. The filing states the stock options are fully vested and were granted under the company’s 2021 Equity Incentive Plan.

Was the grant to the director compliant with Section 16 rules?

The filing states the grant was approved by the issuer’s board and exempt from Section 16(b) under Rule 16b-3.

How many shares would be issued if the options are exercised?

If exercised in full, the options would underlie 45,000 common shares according to the Form 4.

When do the options expire according to the Form 4?

The options expire on 09/08/2030 as disclosed in Table II of the filing.