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Forward Industries, Inc. Director's Dealing 2007

May 8, 2007

31581_dirs_2007-05-08_f1e56fe1-0e51-4db7-b690-7e5edc121c58.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: 2007-05-04

Reporting Person: SABRA DOUGLAS (Director, CFO)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2007-05-04 FORWARD INDUSTRIES COMMON STOCK A 20000 $3.49 Acquired 20000 Direct

Footnotes

F1: THESE SHARES ARE RESTRICTED SHARES GRANTED UNDER THE FORWARD INDUSTRIES INC. 2007 EQUITY INCENTIVE PLAN AND VEST AS FOLLOWS:

6,667 SHARES ON MAY 4, 2007, 11:59PM
6,667 SHARES ON MAY 4, 2008, 11:59PM
6,666 SHARES ON MAY 4, 2009, 11:59PM

F2: BASED ON THE CLOSING MARKET PRICE ON MAY 4, 2007.