Forward Industries, Inc. — Director's Dealing 2005

Aug 24, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD INDUSTRIES INC (FORD)
CIK: 0000038264
Period of Report: 2005-08-22

Reporting Person: SCHIFFMAN MICHAEL (Director, President & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-08-22	Forward Industries Common Stock	M	15000	$3.25	Acquired	317427	Direct
2005-08-22	Forward Industries Common Stock	S	15000	$25.25	Disposed	302427	Direct
2005-08-23	Forward Industries Common Stock	M	5000	$3.25	Acquired	307427	Direct
2005-08-23	Forward Industries Common Stock	S	5000	$25.75	Disposed	302427	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-08-22	Common Stock Option	$3.25	M	15000	Disposed	2005-12-31	Forward Industries Common Stock (15000)	Direct
2005-08-23	Common Stock Option	$3.25	M	5000	Disposed	2005-12-31	Forward Industries Common Stock (5000)	Direct

Footnotes

F1: 5000 shares at $25.00
5000 shares at $25.25
5000 shares at $25.50

Average exercise price of $25.25