X0303 4 2010-08-12 0 0000038264 FORWARD INDUSTRIES INC FORD 0001160478 SABRA DOUGLAS 7441 BRUNSWICK CIRCLE BOYNTON BEACH FL 33472 0 0 0 1 former CEO and Director Forward Industries Common Stock 2010-08-12 4 M 0 10000 2.02 A 10000 D Forward Industries Common Stock 2010-08-12 4 F 0 5722 3.53 D 30944 D Forward Industries Common Stock Option 2.02 2010-08-12 4 M 0 10000 0 D 2010-08-10 2019-12-11 Forward Industries Common Stock 10000 0 D The vesting of these options was accelerated to 8/10/2010 in conjunction with Mr. Sabra's Severance and Release Agreement. Orginal vesting of these shares were as follows: 3,334 vesting on 12/10/2010 3,333 vesting on 12/10/2011 3,333 vesting on 12/10/2012 $3.53 represents the closing stock price of FORD on 8/12/2010, the date the net share exercise was submitted. 5,722 shares were withheld as payment of exercise price ($20,200) for 10,000 options (strike price of $2.02). The number of shares withheld was calculated using the closing stock price on the date of exercise, which was $3.53 on 8/12/2010. Consists of 4,278 shares (representing the net amount of shares issued from 8/12/2010 exercise of options) and 26,666 shares of restricted stock which became fully vested on 8/10/2010 in connection with Mr. Sabra's Seveance and Release Agreement. James McKenna, by Power of Attorney 2010-08-16