Shah Sangita 4

What Happened

• Shah Sangita, a director of Forward Industries, was granted a derivative award on 2026-03-10 covering 150,000 shares (reported as an award/grant). The filing lists the price as N/A and classifies the award as a stock option grant (transaction code A).

Key Details

• Transaction date: March 10, 2026 (Form 4 filed March 12, 2026).
• Shares/options granted: 150,000 (derivative instrument; exercise/strike price listed as N/A in the filing).
• Shares owned after transaction: Not specified in the filing.
• Vesting: Options vest in four equal quarterly installments; first vesting date is June 11, 2026, subject to continued service as a director (footnote F1).
• Other footnotes: F2 marked "Not applicable."
• Timeliness: Filing occurred two days after the transaction (no late‑filing flag noted).

Context

• This was a grant of stock options (an award), not an exercise or sale, so there were no immediate proceeds or share sales. The options are unvested at grant and will only become exercisable as they vest per the schedule above. Grants are common for board compensation; they create potential future dilution if exercised but do not by themselves indicate buying or selling of stock.