Forward Industries shareholders reject reincorporation to Nevada; appoints new Kablooe CEO

Forward Industries, Inc.

Shareholders defeated Proposal 3 (reincorporation from NY to NV) with 427,661 for, 96,862 against; proposals 2,4,5,6,7 approved.
Fred Sklenar appointed CEO/President of Kablooe subsidiary effective Aug 18, 2025; annual salary $175,000 plus $50,000 bonus.
CFO Kathleen Weisberg's salary increased to $275,000; severance extended from 6 to 8 months under amended employment agreement.
FC converted 610 Series A-1 preferred shares into 81,333 common shares at $7.50/share; 4,315 Series A-1 remain outstanding.
Directors Sangita Shah, Sharon Hrynkow, Keith Johnson reelected at annual meeting.

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