Forward Industries, Inc. — Board/Management Information 2021

Dec 2, 2021

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 29, 2021

Forward Industries, Inc.

(Exact name of registrant as specified in its charter)

New York	001-34780	13-1950672
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification No.)

700 Veterans Memorial Hwy. Suite 100

Hauppauge , New York 11788

(Address of Principal Executive Office) (Zip Code)

(631) 547-3041

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	FORD	The NASDAQ Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 29, 2021, Mr. Mitchell Maiman, the President of Intelligent Product Solutions, Inc. (“IPS”), a wholly-owned subsidiary of Forward Industries, Inc. (the “Company”), informed the Company of his definitive decision to resign. The resignation is effective January 1, 2022 (the “Effective Date”). The Company and Mr. Maiman have entered into an Independent Contractor Agreement (the “Agreement”) whereby Mr. Maiman will provide the Company with certain business strategy services. Under the Agreement, which will begin on the Effective Date, Mr. Maiman will receive a monthly retainer of $12,000 per month and be eligible for bonuses based on meeting certain performance milestones. The Agreement is attached as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference. Beginning on the Effective Date, Mr. Paul Severino, the current Chief Operating Officer of IPS, will serve as the President of IPS and Mr. Robert Wild will become the Chief Operating Officer of IPS.

Item 9.01 Financial Statements and Exhibits.

10.1 Maiman Consulting Agreement

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

/s/ Anthony Camarda
Name: Anthony Camarda
Title: Chief Financial Officer

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