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Forward Industries, Inc. Director's Dealing 2005

May 24, 2005

31581_dirs_2005-05-23_2983472f-9eb0-45fb-bc00-19f902c81333.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD INDUSTRIES INC (FORD)
CIK: 0000038264
Period of Report: 2005-04-22

Reporting Person: RICKEN NORMAN (Director)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2005-04-22 COMMON STOCK OPTION TO BUY $15.91 A 10000 Acquired 2005-04-21 FORWARD INDUSTRIES COMMON STOCK (10000) Direct

Footnotes

F1: Granted stock option to purchase 10,000 common shares at the closing price on 4/22/05 of $15.91. Stock option is immediately vested and expires 4/21/2015.