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<title>Form 8-K</title>


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<body lang=EN-US>

<div style='page:WordSection1;'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>
<b>UNITED STATES</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>SECURITIES AND
EXCHANGE COMMISSION</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>Washington, D.C.
20549</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b><font style="font-size: 16.0pt">FORM 8-K</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>CURRENT REPORT</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>Pursuant to
Section 13 or 15(d) of The Securities Exchange Act of 1934</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>Date of Report (Date
of Earliest Event Reported): <u>December 11, 2013</u></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none' width="100%">
 <tr>
  <td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b><font style="font-size: 16.0pt">Forward Industries, Inc.</font></b></p>
  </td>
 </tr>
 <tr>
  <td colspan=3 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>(Exact name of
  registrant as specified in its charter)</p>
  </td>
 </tr>
 <tr>
  <td valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="33%" valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>New York</p>
  </td>
  <td width="34%" valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>000-6669</p>
  </td>
  <td width="33%" valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>13-1950672</p>
  </td>
 </tr>
 <tr>
  <td width="33%" valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>(State or Other
  Jurisdiction<br>
  of Incorporation)</p>
  </td>
  <td width="34%" valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>(Commission<br>
  File Number)</p>
  </td>
  <td width="33%" valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>(IRS Employer<br>
  Identification No.)</p>
  </td>
 </tr>
 <tr>
  <td valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width="34%" valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width="33%" valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="67%">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>477 Rosemary Ave.,
  Suite 219 <br>
  West Palm Beach, FL</p>
  </td>
  <td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>33401</p>
  </td>
 </tr>
 <tr>
  <td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="67%">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>(Address of
  Principal Executive Offices)</p>
  </td>
  <td valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>(Zip Code)</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>Registrant&#146;s
Telephone Number, Including Area Code: (561) 465-0030</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none' width="100%">
 <tr>
  <td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'></p>
  </td>
 </tr>
 <tr>
  <td valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>(Former Name or
  Former Address, If Changed Since Last Report)</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><font face="Wingdings">&#168;</font> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><font face="Wingdings">&#168;</font> Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><font face="Wingdings">&#168;</font>
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><font face="Wingdings">&#168;</font>
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<hr>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>


<p style='page-break-before:always'></p>


<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:bold;'>ITEM 5.02(e) DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS;
ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS.</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>On December 11, 2013, the Compensation Committee (the
&#147;Compensation Committee&#148;) of the Board of Directors of Forward Industries, Inc.
(the &#147;Company&#148;) approved the following bonus payments to Mr. Robert Garrett,
Jr., Principal Executive Officer of the Company, and Mr. James O. McKenna,
Principal Financial Officer of the Company, for services performed in the
Company&#146;s fiscal year ended September 30, 2013: a total bonus payment to Mr.
Garrett of $100,000, consisting of a performance target-based bonus in the
amount of $75,000 and an additional discretionary bonus of $25,000; and a total
bonus payment to Mr. McKenna of $86,000, consisting of a performance
target-based bonus in the amount of $63,000 and an additional discretionary
bonus of $23,000. Half of Mr. McKenna&#146;s bonus payment will represent a cash
payout and the other half ($43,000) will be used to reduce a portion of Mr.
McKenna&#146;s bonus prepaid in the Company&#146;s fiscal year ended September 30, 2012.&nbsp;
The Compensation Committee also increased Mr. Garrett&#146;s base salary from
$250,000 to $300,000, effective as of March 1, 2014.</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>The Compensation Committee further approved grants to Mr.
Garrett and Mr. McKenna of incentive stock options (&#147;ISOs&#148;) to purchase shares
of the Company&#146;s common stock, par value $.01 per share, in the respective
amounts of 25,000 ISOs to Mr. Garrett and 7,500 ISOs to Mr. McKenna.&nbsp; The ISOs
have an exercise price of $1.59 per share, the closing market price of the
Company&#146;s common stock on the grant date, and have a 10-year term and a
three-year vesting period with equal installments on the first, second and
third anniversary of the date of grant.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<hr>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>


<p style='page-break-before:always'></p>


<p style='mso-style-name:"Center Bold Head";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:bold;'>SIGNATURES</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="90%">
 <tr>
  <td width="42%" valign=top style='padding-left:5.75pt; padding-right:5.75pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>Dated: December&nbsp; 17, 2013</p>
  </td>
  <td width="4%" valign=top style='padding-left:5.75pt; padding-right:5.75pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>By:</p>
  </td>
  <td colspan=2 valign=top style='padding-left:5.75pt; padding-right:5.75pt; padding-top:0in; padding-bottom:0in'>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid;border:none;padding:0in'>/s/
  Robert Garrett Jr.</p>
  </div>
  </td>
 </tr>
 <tr>
  <td width="42%" valign=top style='padding-left:5.75pt; padding-right:5.75pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>&nbsp;</p>
  </td>
  <td width="4%" valign=top style='padding-left:5.75pt; padding-right:5.75pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>&nbsp;</p>
  </td>
  <td width="4%" valign=top style='padding-left:5.75pt; padding-right:5.75pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>Name:</p>
  </td>
  <td width="47%" valign=top style='padding-left:5.75pt; padding-right:5.75pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>Robert Garrett Jr.</p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign=top style='padding-left:5.75pt; padding-right:5.75pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>&nbsp;</p>
  </td>
  <td width="4%" valign=top style='padding-left:5.75pt; padding-right:5.75pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>&nbsp;</p>
  </td>
  <td width="4%" valign=top style='padding-left:5.75pt; padding-right:5.75pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>Title:</p>
  </td>
  <td width="47%" valign=top style='padding-left:5.75pt; padding-right:5.75pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>Principal Executive Officer</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

</div>

<p style="font-size: 12.0pt; font-family: 'Times New Roman',serif; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 12.0pt; font-family: 'Times New Roman',serif; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 12.0pt; font-family: 'Times New Roman',serif; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 12.0pt; font-family: 'Times New Roman',serif; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 12.0pt; font-family: 'Times New Roman',serif; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 12.0pt; font-family: 'Times New Roman',serif; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 12.0pt; font-family: 'Times New Roman',serif; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 12.0pt; font-family: 'Times New Roman',serif; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<p style="font-size: 12.0pt; font-family: 'Times New Roman',serif; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
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</body>

</html>
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{"company-data": {"conformed-name": "FORWARD INDUSTRIES INC", "cik": "0000038264", "assigned-sic": "3089", "irs-number": "131950672", "state-of-incorporation": "NY", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34780", "film-number": "131282784"}, "business-address": {"street1": "1801 GREEN ROAD", "street2": "SUITE E", "city": "POMPANO BEACH", "state": "FL", "zip": "33064", "phone": "9544199544"}, "mail-address": {"street1": "1801 GREEN RD", "street2": "SUITE E", "city": "POMPANO BEACH", "state": "FL", "zip": "33064"}, "former-company": {"former-conformed-name": "PROGRESS HEAT SEALING CO INC", "date-changed": "19721111"}}
Form 8-K
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date
of Earliest Event Reported):
December 11, 2013
Forward Industries, Inc.
(Exact name of
  registrant as specified in its charter)
New York
000-6669
13-1950672
(State or Other
  Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
477 Rosemary Ave.,
  Suite 219
West Palm Beach, FL
33401
(Address of
  Principal Executive Offices)
(Zip Code)
Registrant's
Telephone Number, Including Area Code: (561) 465-0030
(Former Name or
  Former Address, If Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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ITEM 5.02(e) DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS;
ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS.
On December 11, 2013, the Compensation Committee (the
"Compensation Committee") of the Board of Directors of Forward Industries, Inc.
(the "Company") approved the following bonus payments to Mr. Robert Garrett,
Jr., Principal Executive Officer of the Company, and Mr. James O. McKenna,
Principal Financial Officer of the Company, for services performed in the
Company's fiscal year ended September 30, 2013: a total bonus payment to Mr.
Garrett of $100,000, consisting of a performance target-based bonus in the
amount of $75,000 and an additional discretionary bonus of $25,000; and a total
bonus payment to Mr. McKenna of $86,000, consisting of a performance
target-based bonus in the amount of $63,000 and an additional discretionary
bonus of $23,000. Half of Mr. McKenna's bonus payment will represent a cash
payout and the other half ($43,000) will be used to reduce a portion of Mr.
McKenna's bonus prepaid in the Company's fiscal year ended September 30, 2012. 
The Compensation Committee also increased Mr. Garrett's base salary from
$250,000 to $300,000, effective as of March 1, 2014.
The Compensation Committee further approved grants to Mr.
Garrett and Mr. McKenna of incentive stock options ("ISOs") to purchase shares
of the Company's common stock, par value $.01 per share, in the respective
amounts of 25,000 ISOs to Mr. Garrett and 7,500 ISOs to Mr. McKenna.  The ISOs
have an exercise price of $1.59 per share, the closing market price of the
Company's common stock on the grant date, and have a 10-year term and a
three-year vesting period with equal installments on the first, second and
third anniversary of the date of grant.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Dated: December  17, 2013
By:
/s/
  Robert Garrett Jr.
Name:
Robert Garrett Jr.
Title:
Principal Executive Officer