Forward Industries, Inc. — Director's Dealing 2009

Dec 15, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD INDUSTRIES INC (FORD)
CIK: 0000038264
Period of Report: 2009-12-11

Reporting Person: McKenna James Owen III (VP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-12-11	Forward Industries Common Stock	A	7500	$2.02	Acquired	19500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-12-11	Forward Industries Common Stock Option	$2.02	A	7500	Acquired	2019-12-10	Forward Industries Common Stock (7500)	Direct

Footnotes

F1: These shares are restricted shares granted under the Forward Industries, Inc. Equity Incentive Plan and vest as follows:
2,500 on December 10, 2010
2,500 on December 10, 2011
2,500 on December 10, 2012

F2: Based on the closing market price on December 11, 2009.

F3: Includes 8,000 unvested restricted shares previously granted under the Forward Industries Inc.Equity Incentive Plan.

F4: 2,500 stock options vest on December 10, 2010
2,500 stock options vest on December 10, 2011
2,500 stock options vest on December 10, 2012