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Forward Industries, Inc. Director's Dealing 2008

Dec 22, 2008

31581_dirs_2008-12-22_10bf8e9d-3511-432f-8637-99218702c565.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: 2008-12-18

Reporting Person: SABRA DOUGLAS (Director, Acting Chairman and CEO)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2008-12-18 Forward Industries Common Stock A 15000 $2.07 Acquired 65000 Direct

Footnotes

F1: These are restricted shares granted under the Forward Industries Inc, 2007 Equity Incentive Plan and vest as follows: 5,000 shares on December 18, 2009, 5,000 shares on December 18, 2010 and 5,000 shares on December 18, 2011.

F2: Based on the closing market price on December 18, 2008.

F3: Includes 26,666 unvested restricted shares previously issued under the Forward Industries Inc, 2007 Equity Incentive Plan.