Brazier Mark Christopher 4

What Happened
Mark Christopher Brazier, Chief Financial Officer of Forward Industries, Inc. (FWDI), received equity awards on 2026-04-16 consisting of 275,000 restricted stock units (RSUs) and an additional 275,000 derivative awards reported as a contingent/derivative grant. The RSU grant shows an acquisition price of $0.00 (typical for RSUs); the derivative award is reported with price “N/A.” These are awards (not open-market purchases or sales).

Key Details

• Transaction date: 2026-04-16; Form 4 filed: 2026-04-17 (appears timely).
• Reported amounts: 275,000 RSUs (@ $0.00) and 275,000 derivative awards (price N/A).
• Vesting: 25% vests on April 13, 2027; remaining 75% vests in 12 equal quarterly installments thereafter, subject to continued service (per footnote).
• Grant authority: Approved by the Issuer's Compensation Committee and exempt under Rule 16b-3; awards granted under the Issuer's 2021 Equity Incentive Plan.
• Footnotes indicate stock options were also granted under the same action; one-half of those options have a $9.18 exercise price and one-half $13.77 (see filing).
• Shares owned after the transaction: not disclosed in the provided excerpt — see the full Form 4 for total beneficial ownership.

Context
These are time-vesting compensation awards (RSUs and related derivative awards). RSUs represent a contingent right to receive one share per unit upon vesting, so they do not deliver immediate shares or cash. Awards are common executive compensation and are different from purchases (which can signal direct buying interest) or sales. No sale or cashless exercise was reported in this filing.