Forward Industries, Inc. recently announced the appointment of Michael Pruitt to its Board of Directors. Effective February 1, 2025, Pruitt will serve as a director of the company and also as a member of both the Audit and Risk Committee and Nominating Committee.
As part of his compensation package, Pruitt is set to receive $30,000 for his initial 12 months of service as a director. Additionally, he will be granted stock options valued at $40,000 using the Black-Scholes valuation methodology. These stock options will vest after 12 months from the appointment’s effective date, subject to Pruitt’s continued service as a director of Forward Industries.
This recent addition to the Board of Directors reflects Forward Industries’ commitment to strengthening its leadership team and governance structure. The company continues to focus on strategic decision-making and enhancing shareholder value through targeted leadership appointments.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Forward Industries’s 8K filing here.
About Forward Industries
Forward Industries, Inc, together with its subsidiaries, designs, manufactures, sources, markets, and distributes carry and protective solutions. The company operates in two segments: OEM Distribution and Design. The OEM Distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits; and various other portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, GPS location devices, tablets, and firearms.
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