Navi Ryan David 4

What Happened

• Navi Ryan David, Chief Investment Officer of Forward Industries, was granted restricted stock units (RSUs) on 2026-03-08: 382,085 RSUs acquired at $0 and an additional 352,694 RSUs reported as derivative securities (contingent rights). Combined, the awards total 734,779 RSUs. These were awards (code A) rather than purchases or sales, so no cash changed hands at grant.

Key Details

• Transaction date: March 8, 2026; Form 4 filed March 10, 2026 (appears timely).
• Grant details: 382,085 RSUs @ $0.00 (acquired); 352,694 RSUs reported as derivative (N/A).
• Vesting (footnote): 25% vests on Nov 17, 2026; remaining 75% vests in 12 equal quarterly installments through Nov 17, 2029, subject to continued service (F2). F1 confirms these are RSUs (one unit = one share upon vesting).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Other footnotes: F3 references option exercise prices but is not directly relevant to these RSU grants; F4 not applicable.

Context

• RSU grants are compensation awards that convert to shares only upon vesting; they do not represent an immediate purchase or sale and typically do not indicate near-term insider buying or selling. The derivative designation simply reflects that a right to receive shares exists in the future upon vesting and service conditions.