[8-K] Forward Industries Inc-N Y Reports Material Event
Forward Industries announced several corporate actions affecting its capital structure, leadership at a subsidiary and executive compensation. The company converted 610 shares of Series A-1 Preferred Stock with a stated value of $610,000 into 81,333 shares of common stock at a conversion price of $7.50 per share, leaving 4,315 Series A-1 shares outstanding, all held by Forward Industries (Asia-Pacific) Corporation.
The company named Fred Sklenar as Chief Executive Officer and President of its wholly owned subsidiary Kablooe Inc., effective August 18, 2025, with an annual base salary of $175,000 and eligibility for a $50,000 performance bonus contingent on continued employment and performance milestones. Mr. Tom Kramer resigned from his Kablooe roles effective the same date. The Compensation Committee also approved an amendment increasing potential severance for CFO Kathleen Weisberg from six to eight months of base salary; the amendment is attached as Exhibit 10.1.
At the 2025 annual meeting there were 1,125,998 shares outstanding on the record date and 738,912 votes cast. All three director nominees were elected. Shareholders ratified the independent auditor and approved several Nasdaq-related equity issuance proposals and an increase of 300,000 shares to the 2021 Equity Incentive Plan, but did not approve the proposed change of state of incorporation to Nevada.
Forward Industries ha annunciato diverse azioni societarie che interessano la struttura del capitale, la leadership di una controllata e la remunerazione dei dirigenti. La societ脿 ha convertito 610 azioni privilegiate Serie A-1 con valore dichiarato di $610.000 in 81.333 azioni ordinarie a un prezzo di conversione di $7,50 per azione, lasciando 4.315 azioni Serie A-1 in circolazione, tutte detenute da Forward Industries (Asia-Pacific) Corporation.
La societ脿 ha nominato Fred Sklenar Chief Executive Officer e Presidente della sua controllata interamente posseduta Kablooe Inc., con decorrenza 18 agosto 2025, con una retribuzione base annua di $175.000 e l'idoneit脿 a un bonus legato alle prestazioni di $50.000, subordinato al proseguimento dell'impiego e al raggiungimento di obiettivi di performance. Il Sig. Tom Kramer si 猫 dimesso dai suoi incarichi in Kablooe con la stessa data. Il Comitato per la Remunerazione ha inoltre approvato una modifica che aumenta l'eventuale indennit脿 per la CFO Kathleen Weisberg da sei a otto mesi di stipendio base; la modifica 猫 allegata come Exhibit 10.1.
All'assemblea annuale 2025 risultavano 1.125.998 azioni in circolazione alla data di registrazione e sono stati espressi 738.912 voti. Tutti e tre i candidati al consiglio sono stati eletti. Gli azionisti hanno ratificato il revisore indipendente e approvato diverse proposte relative a emissioni di azioni collegate alla Nasdaq e un aumento di 300.000 azioni al 2021 Equity Incentive Plan, ma non hanno approvato la proposta di modifica dello stato di costituzione in Nevada.
Forward Industries anunci贸 varias acciones corporativas que afectan su estructura de capital, el liderazgo en una subsidiaria y la compensaci贸n ejecutiva. La compa帽铆a convirti贸 610 acciones de acciones preferentes Serie A-1 con un valor declarado de $610,000 en 81,333 acciones ordinarias a un precio de conversi贸n de $7.50 por acci贸n, dejando 4,315 acciones Serie A-1 en circulaci贸n, todas en poder de Forward Industries (Asia-Pacific) Corporation.
La compa帽铆a nombr贸 a Fred Sklenar como Director Ejecutivo (CEO) y Presidente de su subsidiaria totalmente propiedad Kablooe Inc., con efecto desde el 18 de agosto de 2025, con un salario base anual de $175,000 y elegibilidad para un bono por desempe帽o de $50,000 condicionado a la continuidad del empleo y al cumplimiento de hitos de desempe帽o. El Sr. Tom Kramer renunci贸 a sus cargos en Kablooe con la misma fecha. El Comit茅 de Compensaci贸n tambi茅n aprob贸 una enmienda que aumenta la posible indemnizaci贸n por despido de la CFO Kathleen Weisberg de seis a ocho meses de salario base; la enmienda est谩 adjunta como Exhibit 10.1.
En la junta anual de 2025 hab铆a 1,125,998 acciones en circulaci贸n en la fecha de registro y se emitieron 738,912 votos. Los tres nominados para el directorio fueron elegidos. Los accionistas ratificaron al auditor independiente y aprobaron varias propuestas relacionadas con emisiones de acciones para Nasdaq y un aumento de 300,000 acciones al 2021 Equity Incentive Plan, pero no aprobaron el cambio propuesto del estado de constituci贸n a Nevada.
Forward Industries電� 鞛愲掣 甑“, 鞛愴殞靷� 毽崝鞁� 氚� 瓴届榿歆� 氤挫儊鞐� 鞓來枼鞚� 氙胳箻電� 鞐煬 須岇偓 臁办箻毳� 氚滍憸頄堨姷雼堧嫟. 須岇偓電� 響滌嫓 臧�鞎§澊 $610,000鞚� Series A-1 鞖办劆欤� 610欤茧ゼ 欤茧嫻 鞝勴櫂臧� $7.50鞐� 氤错喌欤� 81,333欤�搿� 鞝勴櫂頄堨溂氅�, 攴� 瓴瓣臣 Series A-1 欤检嫕 4,315欤缄皜 氚滍枆 鞛旍棳頃橁矊 霅橃棃瓿� 鞚措摛 鞝勲秬電� Forward Industries (Asia-Pacific) Corporation鞚� 氤挫湢頃橁碃 鞛堨姷雼堧嫟.
須岇偓電� 2025雲� 8鞗� 18鞚茧秬搿� 鞕勳爠 鞛愴殞靷� Kablooe Inc.鞚� 斓滉碃瓴届榿鞛�(CEO) 瓴� 靷灔鞙茧 Fred Sklenar毳� 鞛勲獏頄堨溂氅�, 鞐瓣皠 旮半掣旮夓潃 $175,000鞚搓碃 鞛 氚� 靹标臣 氇╉憸 雼劚鞐� 霐半澕 $50,000 靹标臣 氤措剤鞀� 雽�靸侅瀽鞛呺媹雼�. Tom Kramer 鞌姅 臧欖潃 雮犾攵�搿� Kablooe鞐愳劀 靷瀯頄堨姷雼堧嫟. 氤挫儊鞙勳洂須岆姅 霕愴暅 鞛毂呾瀯鞛�(CFO) Kathleen Weisberg鞚� 鞛犾灛鞝� 韲挫 鞙勲旮� 歆�旮� 旮瓣皠鞚� 旮办〈 6臧滌洈鞐愳劀 8臧涤洈鞚� 旮半掣旮夓溂搿� 電橂Μ電� 靾橃爼鞎堨潉 鞀轨澑頄堨溂氅�, 頃措嫻 靾橃爼鞎堨潃 Exhibit 10.1搿� 觳秬霅橃柎 鞛堨姷雼堧嫟.
2025雲� 鞐半 欤检＜齑濏殞 旮办 旮半鞚检棎電� 1,125,998欤缄皜 氚滍枆霅橃柎 鞛堨棃瓿�, 738,912響滉皜 頄夓偓霅橃棃鞀惦媹雼�. 鞚挫偓須� 頉勲炒 3氇� 鞝勳洂鞚� 靹犾瀯霅橃棃鞀惦媹雼�. 欤检＜霌れ潃 霃呺 臧愳偓鞚胳潉 鞀轨澑(牍勳)頄堨溂氅� Nasdaq 甏�霠� 欤检嫕 氚滍枆 鞎堦贝瓿� 2021雲� 欤检嫕 鞚胳劶韹半笇 頂岆灉鞐� 雽�頃� 300,000欤� 歃濎暋鞚� 鞀轨澑頄堨溂雮�, 氤胳偓鞚� 欤�(state) 鞚挫爠鞚� 雱る皵雼る 氤�瓴巾晿電� 鞝滌晥鞚� 鞀轨澑頃橃 鞎婌晿鞀惦媹雼�.
Forward Industries a annonc茅 plusieurs mesures d'entreprise affectant sa structure du capital, la direction d'une filiale et la r茅mun茅ration des dirigeants. La soci茅t茅 a converti 610 actions privil茅gi茅es de la S茅rie A-1 d'une valeur d茅clar茅e de $610,000 en 81,333 actions ordinaires 脿 un prix de conversion de $7,50 par action, laissant 4,315 actions S茅rie A-1 en circulation, toutes d茅tenues par Forward Industries (Asia-Pacific) Corporation.
La soci茅t茅 a nomm茅 Fred Sklenar en tant que Chief Executive Officer et President de sa filiale en pleine propri茅t茅 Kablooe Inc., 脿 compter du 18 ao没t 2025, avec un salaire de base annuel de $175,000 et l'茅ligibilit茅 脿 un bonus li茅 脿 la performance de $50,000 conditionn茅 脿 la poursuite de l'emploi et 脿 l'atteinte d'objectifs de performance. M. Tom Kramer a d茅missionn茅 de ses fonctions chez Kablooe 脿 la m锚me date. Le comit茅 des r茅mun茅rations a 茅galement approuv茅 un amendement augmentant l'indemnit茅 potentielle pour la CFO Kathleen Weisberg de six 脿 huit mois de salaire de base ; l'amendement est joint en tant qu'Exhibit 10.1.
Lors de l'assembl茅e annuelle 2025, 1,125,998 actions 茅taient en circulation 脿 la date d'enregistrement et 738,912 votes ont 茅t茅 exprim茅s. Les trois candidats au conseil d'administration ont 茅t茅 茅lus. Les actionnaires ont ratifi茅 l'auditeur ind茅pendant et approuv茅 plusieurs propositions relatives 脿 des 茅missions d'actions li茅es au Nasdaq ainsi qu'une augmentation de 300,000 actions du 2021 Equity Incentive Plan, mais n'ont pas approuv茅 la proposition de changement de l'茅tat d'incorporation en Nevada.
Forward Industries gab mehrere unternehmensbezogene Ma脽nahmen bekannt, die die Kapitalstruktur, die F眉hrung einer Tochtergesellschaft und die Verg眉tung der Gesch盲ftsleitung betreffen. Das Unternehmen wandelte 610 Aktien der Series A-1 Vorzugsaktien mit einem ausgewiesenen Wert von $610.000 in 81.333 Stammaktien zu einem Umwandlungspreis von $7,50 je Aktie um, wodurch 4.315 Series A-1 Aktien ausstehend blieben, die alle von Forward Industries (Asia-Pacific) Corporation gehalten werden.
Das Unternehmen ernannte Fred Sklenar zum Chief Executive Officer und President seiner hundertprozentigen Tochtergesellschaft Kablooe Inc., wirksam ab dem 18. August 2025, mit einem j盲hrlichen Grundgehalt von $175.000 und Anspruch auf einen $50.000 Leistungsbonus, der von fortgesetzter Anstellung und dem Erreichen von Leistungszielen abh盲ngt. Herr Tom Kramer trat mit demselben Datum von seinen Kablooe-脛mtern zur眉ck. Das Verg眉tungskomitee genehmigte au脽erdem eine 脛nderung, die die m枚gliche Abfindung f眉r die CFO Kathleen Weisberg von sechs auf acht Monate des Grundgehalts erh枚ht; die 脛nderung ist als Exhibit 10.1 beigef眉gt.
Auf der Hauptversammlung 2025 standen am Stichtag 1.125.998 Aktien aus und es wurden 738.912 Stimmen abgegeben. Alle drei Direktorenkandidaten wurden gew盲hlt. Die Aktion盲re best盲tigten den unabh盲ngigen Abschlusspr眉fer und genehmigten mehrere Nasdaq-bezogene Aktienausgabenvorschl盲ge sowie eine Erh枚hung um 300.000 Aktien des 2021 Equity Incentive Plans, lehnten jedoch die vorgeschlagene 脛nderung des Sitzstaates auf Nevada ab.
- Conversion of preferred stock completed, with 81,333 common shares issued, simplifying that portion of the capital structure
- All board nominees elected, maintaining board continuity
- Shareholder approval of auditor ratification and Nasdaq-related equity issuance proposals, enabling previously negotiated financing arrangements
- Equity Incentive Plan increased by 300,000 shares, supporting employee and executive incentives
- Proposal to change state of incorporation to Nevada was not approved, so expected corporate domicile change will not occur
- Approvals related to equity issuance and conversions (permitted under purchase agreements) may lead to future dilution of common shareholders
- CFO severance increased from six to eight months, expanding potential post-termination cash obligations
Insights
TL;DR: Mixed capital and governance actions introduce new common shares and approve equity issuance authority, while a domicile change was rejected.
The conversion of 610 Series A-1 preferred shares into 81,333 common shares is a material equity issuance explicitly disclosed in the filing. This increases common share count and eliminates those preferred interests, with 4,315 Series A-1 remaining outstanding. Shareholder approvals cleared ratification of the auditor and granted authority related to equity issuances under Nasdaq rules, and the company increased its equity incentive pool by 300,000 shares. Those actions collectively permit additional share issuance under existing financing arrangements, which can be dilutive to existing shareholders depending on future use.
Operational leadership at subsidiary Kablooe was formalized with a named CEO and defined compensation, and CFO severance protections were increased to eight months' pay鈥攂oth are explicit, contractual changes disclosed in the exhibit list.
TL;DR: Governance outcomes are mixed: board nominees elected and equity authorizations approved, but the proposed state-of-incorporation change failed.
The annual meeting results show director elections were successful and several corporate governance actions passed, including shareholder approval for Nasdaq-related share issuances and an increase to the equity incentive plan by 300,000 shares. However, the proposal to change the company's state of incorporation to Nevada did not pass despite receiving a plurality of votes cast, indicating insufficient support under the required vote standard. The filing also documents an employment amendment for the CFO and a new executive appointment at a subsidiary with disclosed compensation terms; the filing states there are no related party transactions requiring disclosure in connection with the new subsidiary CEO appointment.
Forward Industries ha annunciato diverse azioni societarie che interessano la struttura del capitale, la leadership di una controllata e la remunerazione dei dirigenti. La societ脿 ha convertito 610 azioni privilegiate Serie A-1 con valore dichiarato di $610.000 in 81.333 azioni ordinarie a un prezzo di conversione di $7,50 per azione, lasciando 4.315 azioni Serie A-1 in circolazione, tutte detenute da Forward Industries (Asia-Pacific) Corporation.
La societ脿 ha nominato Fred Sklenar Chief Executive Officer e Presidente della sua controllata interamente posseduta Kablooe Inc., con decorrenza 18 agosto 2025, con una retribuzione base annua di $175.000 e l'idoneit脿 a un bonus legato alle prestazioni di $50.000, subordinato al proseguimento dell'impiego e al raggiungimento di obiettivi di performance. Il Sig. Tom Kramer si 猫 dimesso dai suoi incarichi in Kablooe con la stessa data. Il Comitato per la Remunerazione ha inoltre approvato una modifica che aumenta l'eventuale indennit脿 per la CFO Kathleen Weisberg da sei a otto mesi di stipendio base; la modifica 猫 allegata come Exhibit 10.1.
All'assemblea annuale 2025 risultavano 1.125.998 azioni in circolazione alla data di registrazione e sono stati espressi 738.912 voti. Tutti e tre i candidati al consiglio sono stati eletti. Gli azionisti hanno ratificato il revisore indipendente e approvato diverse proposte relative a emissioni di azioni collegate alla Nasdaq e un aumento di 300.000 azioni al 2021 Equity Incentive Plan, ma non hanno approvato la proposta di modifica dello stato di costituzione in Nevada.
Forward Industries anunci贸 varias acciones corporativas que afectan su estructura de capital, el liderazgo en una subsidiaria y la compensaci贸n ejecutiva. La compa帽铆a convirti贸 610 acciones de acciones preferentes Serie A-1 con un valor declarado de $610,000 en 81,333 acciones ordinarias a un precio de conversi贸n de $7.50 por acci贸n, dejando 4,315 acciones Serie A-1 en circulaci贸n, todas en poder de Forward Industries (Asia-Pacific) Corporation.
La compa帽铆a nombr贸 a Fred Sklenar como Director Ejecutivo (CEO) y Presidente de su subsidiaria totalmente propiedad Kablooe Inc., con efecto desde el 18 de agosto de 2025, con un salario base anual de $175,000 y elegibilidad para un bono por desempe帽o de $50,000 condicionado a la continuidad del empleo y al cumplimiento de hitos de desempe帽o. El Sr. Tom Kramer renunci贸 a sus cargos en Kablooe con la misma fecha. El Comit茅 de Compensaci贸n tambi茅n aprob贸 una enmienda que aumenta la posible indemnizaci贸n por despido de la CFO Kathleen Weisberg de seis a ocho meses de salario base; la enmienda est谩 adjunta como Exhibit 10.1.
En la junta anual de 2025 hab铆a 1,125,998 acciones en circulaci贸n en la fecha de registro y se emitieron 738,912 votos. Los tres nominados para el directorio fueron elegidos. Los accionistas ratificaron al auditor independiente y aprobaron varias propuestas relacionadas con emisiones de acciones para Nasdaq y un aumento de 300,000 acciones al 2021 Equity Incentive Plan, pero no aprobaron el cambio propuesto del estado de constituci贸n a Nevada.
Forward Industries電� 鞛愲掣 甑“, 鞛愴殞靷� 毽崝鞁� 氚� 瓴届榿歆� 氤挫儊鞐� 鞓來枼鞚� 氙胳箻電� 鞐煬 須岇偓 臁办箻毳� 氚滍憸頄堨姷雼堧嫟. 須岇偓電� 響滌嫓 臧�鞎§澊 $610,000鞚� Series A-1 鞖办劆欤� 610欤茧ゼ 欤茧嫻 鞝勴櫂臧� $7.50鞐� 氤错喌欤� 81,333欤�搿� 鞝勴櫂頄堨溂氅�, 攴� 瓴瓣臣 Series A-1 欤检嫕 4,315欤缄皜 氚滍枆 鞛旍棳頃橁矊 霅橃棃瓿� 鞚措摛 鞝勲秬電� Forward Industries (Asia-Pacific) Corporation鞚� 氤挫湢頃橁碃 鞛堨姷雼堧嫟.
須岇偓電� 2025雲� 8鞗� 18鞚茧秬搿� 鞕勳爠 鞛愴殞靷� Kablooe Inc.鞚� 斓滉碃瓴届榿鞛�(CEO) 瓴� 靷灔鞙茧 Fred Sklenar毳� 鞛勲獏頄堨溂氅�, 鞐瓣皠 旮半掣旮夓潃 $175,000鞚搓碃 鞛 氚� 靹标臣 氇╉憸 雼劚鞐� 霐半澕 $50,000 靹标臣 氤措剤鞀� 雽�靸侅瀽鞛呺媹雼�. Tom Kramer 鞌姅 臧欖潃 雮犾攵�搿� Kablooe鞐愳劀 靷瀯頄堨姷雼堧嫟. 氤挫儊鞙勳洂須岆姅 霕愴暅 鞛毂呾瀯鞛�(CFO) Kathleen Weisberg鞚� 鞛犾灛鞝� 韲挫 鞙勲旮� 歆�旮� 旮瓣皠鞚� 旮办〈 6臧滌洈鞐愳劀 8臧涤洈鞚� 旮半掣旮夓溂搿� 電橂Μ電� 靾橃爼鞎堨潉 鞀轨澑頄堨溂氅�, 頃措嫻 靾橃爼鞎堨潃 Exhibit 10.1搿� 觳秬霅橃柎 鞛堨姷雼堧嫟.
2025雲� 鞐半 欤检＜齑濏殞 旮办 旮半鞚检棎電� 1,125,998欤缄皜 氚滍枆霅橃柎 鞛堨棃瓿�, 738,912響滉皜 頄夓偓霅橃棃鞀惦媹雼�. 鞚挫偓須� 頉勲炒 3氇� 鞝勳洂鞚� 靹犾瀯霅橃棃鞀惦媹雼�. 欤检＜霌れ潃 霃呺 臧愳偓鞚胳潉 鞀轨澑(牍勳)頄堨溂氅� Nasdaq 甏�霠� 欤检嫕 氚滍枆 鞎堦贝瓿� 2021雲� 欤检嫕 鞚胳劶韹半笇 頂岆灉鞐� 雽�頃� 300,000欤� 歃濎暋鞚� 鞀轨澑頄堨溂雮�, 氤胳偓鞚� 欤�(state) 鞚挫爠鞚� 雱る皵雼る 氤�瓴巾晿電� 鞝滌晥鞚� 鞀轨澑頃橃 鞎婌晿鞀惦媹雼�.
Forward Industries a annonc茅 plusieurs mesures d'entreprise affectant sa structure du capital, la direction d'une filiale et la r茅mun茅ration des dirigeants. La soci茅t茅 a converti 610 actions privil茅gi茅es de la S茅rie A-1 d'une valeur d茅clar茅e de $610,000 en 81,333 actions ordinaires 脿 un prix de conversion de $7,50 par action, laissant 4,315 actions S茅rie A-1 en circulation, toutes d茅tenues par Forward Industries (Asia-Pacific) Corporation.
La soci茅t茅 a nomm茅 Fred Sklenar en tant que Chief Executive Officer et President de sa filiale en pleine propri茅t茅 Kablooe Inc., 脿 compter du 18 ao没t 2025, avec un salaire de base annuel de $175,000 et l'茅ligibilit茅 脿 un bonus li茅 脿 la performance de $50,000 conditionn茅 脿 la poursuite de l'emploi et 脿 l'atteinte d'objectifs de performance. M. Tom Kramer a d茅missionn茅 de ses fonctions chez Kablooe 脿 la m锚me date. Le comit茅 des r茅mun茅rations a 茅galement approuv茅 un amendement augmentant l'indemnit茅 potentielle pour la CFO Kathleen Weisberg de six 脿 huit mois de salaire de base ; l'amendement est joint en tant qu'Exhibit 10.1.
Lors de l'assembl茅e annuelle 2025, 1,125,998 actions 茅taient en circulation 脿 la date d'enregistrement et 738,912 votes ont 茅t茅 exprim茅s. Les trois candidats au conseil d'administration ont 茅t茅 茅lus. Les actionnaires ont ratifi茅 l'auditeur ind茅pendant et approuv茅 plusieurs propositions relatives 脿 des 茅missions d'actions li茅es au Nasdaq ainsi qu'une augmentation de 300,000 actions du 2021 Equity Incentive Plan, mais n'ont pas approuv茅 la proposition de changement de l'茅tat d'incorporation en Nevada.
Forward Industries gab mehrere unternehmensbezogene Ma脽nahmen bekannt, die die Kapitalstruktur, die F眉hrung einer Tochtergesellschaft und die Verg眉tung der Gesch盲ftsleitung betreffen. Das Unternehmen wandelte 610 Aktien der Series A-1 Vorzugsaktien mit einem ausgewiesenen Wert von $610.000 in 81.333 Stammaktien zu einem Umwandlungspreis von $7,50 je Aktie um, wodurch 4.315 Series A-1 Aktien ausstehend blieben, die alle von Forward Industries (Asia-Pacific) Corporation gehalten werden.
Das Unternehmen ernannte Fred Sklenar zum Chief Executive Officer und President seiner hundertprozentigen Tochtergesellschaft Kablooe Inc., wirksam ab dem 18. August 2025, mit einem j盲hrlichen Grundgehalt von $175.000 und Anspruch auf einen $50.000 Leistungsbonus, der von fortgesetzter Anstellung und dem Erreichen von Leistungszielen abh盲ngt. Herr Tom Kramer trat mit demselben Datum von seinen Kablooe-脛mtern zur眉ck. Das Verg眉tungskomitee genehmigte au脽erdem eine 脛nderung, die die m枚gliche Abfindung f眉r die CFO Kathleen Weisberg von sechs auf acht Monate des Grundgehalts erh枚ht; die 脛nderung ist als Exhibit 10.1 beigef眉gt.
Auf der Hauptversammlung 2025 standen am Stichtag 1.125.998 Aktien aus und es wurden 738.912 Stimmen abgegeben. Alle drei Direktorenkandidaten wurden gew盲hlt. Die Aktion盲re best盲tigten den unabh盲ngigen Abschlusspr眉fer und genehmigten mehrere Nasdaq-bezogene Aktienausgabenvorschl盲ge sowie eine Erh枚hung um 300.000 Aktien des 2021 Equity Incentive Plans, lehnten jedoch die vorgeschlagene 脛nderung des Sitzstaates auf Nevada ab.
FAQ
What did Forward Industries (FORD) convert from preferred to common stock?
Who was appointed CEO of Kablooe and what is the compensation?
What were the key shareholder meeting outcomes for FORD?
Did Forward Industries change the CFO's employment terms?
How many Series A-1 preferred shares remain outstanding after the conversion?
