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Forward Industries, Inc. Director's Dealing 2006

May 2, 2006

31581_dirs_2006-05-02_f512e149-ca82-4d56-85fa-71b133d81826.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: 2006-05-01

Reporting Person: SABRA DOUGLAS (Director, VP & CFO)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2006-05-01 Forward Industries Common Stock A 20000 Acquired 20000 Direct

Footnotes

F1: 20,000 total shares of restricted stock granted 5/1/2006 under Company's 2006 Restricted Stock Plan. The shares awarded vest 1/3 on each anniversy date of the grant over the next three years.