Forward Industries (FWDI) awards CIO 146,956 performance shares

Rhea-AI Filing Summary

Forward Industries, Inc. reported that Chief Investment Officer Navi Ryan David acquired 146,956 shares of common stock as a grant/award. The award was issued upon satisfaction of a performance milestone under his equity award grant. Following this issuance, his directly held common stock position totals 539,041 shares, which includes previously reported restricted stock units that remain subject to vesting.

Insider Trade Summary

Net Buyer: 146,956 shares

Net Buy 1 txn

Insider Navi Ryan David

Role Chief Investment Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1, F2	146,956	--	--

Holdings After Transaction: Common Stock — 539,041 shares (Direct)

Footnotes (2)

1. F1. The shares of common stock reported herein were issued to the Reporting Person upon the satisfaction of a performance milestone under the Reporting Person's equity award grant.
2. F2. Includes restricted stock units which were previously reported and remain subject to vesting.

Key Figures

Shares granted: 146,956 shares Total shares held after transaction: 539,041 shares Number of acquire-type transactions: 1

3 metrics

Shares granted 146,956 shares Common stock grant upon satisfaction of a performance milestone

Total shares held after transaction 539,041 shares Directly held FWDI common stock after the award, including RSUs subject to vesting

Number of acquire-type transactions 1 Single grant/award acquisition reported in this Form 4

Key Terms

restricted stock units, performance milestone, equity award grant

3 terms

restricted stock units financial

"Includes restricted stock units which were previously reported and remain subject"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

performance milestone financial

"issued to the Reporting Person upon the satisfaction of a performance milestone"

equity award grant financial

"under the Reporting Person's equity award grant"

FAQ

What insider transaction did FWDI report for Navi Ryan David?

FWDI reported that Chief Investment Officer Navi Ryan David received a grant of 146,956 shares of common stock. These shares were issued upon achievement of a performance milestone under his equity award grant, increasing his directly held position to 539,041 shares.

How many FWDI shares does Navi Ryan David hold after this Form 4 transaction?

After the reported grant, Navi Ryan David directly holds 539,041 shares of FWDI common stock. This figure includes previously reported restricted stock units that remain subject to vesting conditions, as disclosed in the filing footnotes.

What type of FWDI transaction is reported on this Form 4 for Navi Ryan David?

The Form 4 reports a grant/award acquisition of FWDI common stock for Navi Ryan David. The 146,956 shares were issued when a defined performance milestone under his existing equity award grant was satisfied, rather than through an open-market purchase.

Was the FWDI insider grant to Navi Ryan David tied to performance?

Yes. The filing states the 146,956 shares were issued upon satisfaction of a performance milestone. This milestone was part of Navi Ryan David’s equity award grant, indicating the shares were contingent on achieving specified performance criteria.

Does Navi Ryan David’s FWDI holding include unvested restricted stock units?

Yes. The post-transaction total of 539,041 shares for Navi Ryan David includes restricted stock units. These RSUs were previously reported and remain subject to vesting, according to the footnote disclosure in the Form 4.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/17/2026 - 06:07 PM Accepted by SEC EDGAR 08/17/2026 - 06:06 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Navi Ryan David

(Last) (First) (Middle)

111 CONGRESS AVENUE

SUITE 500

(Street)

AUSTIN TEXAS 78701

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2026

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

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

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

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
Common Stock	08/08/2026		A		146,956	A	(1)	539,041(2)	D

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

Explanation of Responses:

1. The shares of common stock reported herein were issued to the Reporting Person upon the satisfaction of a performance milestone under the Reporting Person's equity award grant.

2. Includes restricted stock units which were previously reported and remain subject to vesting.

	/s/ Ryan Navi	08/17/2026
	** 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 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.
* Form 4: SEC 1474 (03-26)