Forward Industries, Inc. — Director's Dealing 2005

Jun 8, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD INDUSTRIES INC (FORD)
CIK: 0000038264
Period of Report: 2005-06-06

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-06-06	Forward Industries Common Stock	M	50000	$2.5	Acquired	352427	Direct
2005-06-06	Forward Industries Common Stock	S	50000	$21.64	Disposed	302427	Direct
2005-06-07	Forward Industries Common Stock	M	10000	$2.5	Acquired	312427	Direct
2005-06-07	Forward Industries Common Stock	S	10000	$23.23	Disposed	302427	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-06-06	Common Stock Option	$2.5	M	50000	Disposed	2005-12-31	Forward Industries Common Stock (50000)	Direct
2005-06-07	Common Stock Option	$2.5	M	10000	Disposed	2005-12-31	Forward Industries Common Stock (10000)	Direct

Footnotes

F1: 5000 @ $20.63
5000 @ $20.75
5000 @ $21.00
5000 @ $21.25
5000 @ $21.50
5000 @ $21.75
5000 @ $22.00
5000 @ $22.25
5000 @ $22.50
5000 @ $22.75
Total of 50000 shares at an average of $21.64

F2: 5000 shares at $23.20
5000 shares at $23.25
Total of 10000 shares at an average of $23.23