Forward Industries Inc. announced changes to its executive compensation terms, effective from May and June 2025. Interim CEO Michael Pruitt will receive an annual base salary of $200,000, effective May 16, 2025. The company's Chief Financial Officer, Kathleen Weisberg, will see her annual salary increased from $250,000 to $275,000, starting June 1, 2025. The board also approved the continuation of the vesting schedule for stock options previously granted to Mr. Pruitt. Furthermore, each independent director was granted 12,147 stock options valued at $40,000, exercisable at $6.37 per share, set to vest 12 months from the grant date. Additionally, annual cash compensation for independent directors was established: $100,000 for Chairperson Sangita Shah, $70,000 for Sharon Hyrnkow, and $40,000 for Keith Johnson, all effective June 1, 2025.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.