secwatch.observer — SEC 8-K summary
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Issuer:     Forward Industries, Inc. (FWDI)
CIK:        0000038264
Form:       8-K
Filed at:   2026-03-13T23:59:59+00:00
Accession:  0001683168-26-001777
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Forward Industries awards 100k options to three directors; extends interim CEO Pruitt term to June 30, 2026
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- Board grants 100,000 five-year stock options each to directors Sangita Shah, Keith Johnson, and Michael Pruitt at $5.02/share.
- Additional 50,000 options each to Shah and Johnson for Audit & Risk and Compensation committee service (25k each committee).
- Options vest in four equal quarterly installments starting three months from March 10, 2026, subject to continued service.
- Interim CEO Michael Pruitt's employment term extended to June 30, 2026, with automatic three-month renewals thereafter.
- Non-renewal requires 30 days' written notice prior to expiration of the current term.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/38264/000168316826001777/0001683168-26-001777-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/38264/000168316826001777/forward_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-26-001777

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer