X0303 4 2010-05-11 0 0000038264 FORWARD INDUSTRIES INC FORD 0001426188 HAMILTON FRED 1801 GREEN ROAD, SUITE E POMPANO BEACH FL 33064 1 0 0 0 Forward Industries Common Stock 2010-05-11 4 M 0 20000 2 A 20000 D Forward Industries Common Stock 2010-05-11 4 F 0 9457 4.23 D 10543 D Forward Industries Common Stock Option 1.8 2010-05-11 4 M 0 10000 0 D 2010-02-11 2019-02-11 Forward Industries Common Stock 10000 20000 D Forward Industries Common Stock Option 2.2 2010-05-11 4 M 0 10000 0 D 2009-02-14 2018-02-14 Forward Industries Common Stock 10000 10000 D 10,000 acquired for $1.80 per share via stock option exercise 10,000 acquired for $2.20 per share via stock option exercise 9,457 shares were withheld as payment of exercise price ($40,000) for 20,000 options (10,000 with a strike price of $1.80 and 10,000 with a strike price of $2.20). The number of shares withheld was calculated using the closing stock price on the date of exercise, which was $4.23 on May 11, 2010. Per the closing stock price on the date of exercise, May 11, 2010. Represents the net amount of shares issued upon exercise. James McKenna, by Power of Attorney 2010-05-13