Day. Welcome to the 2026 annual meeting of shareholders of Forward Industries. I would now like to turn the conference over to Kyle Samani. Chairman, please go ahead.
Good morning, ladies and gentlemen. My name is Kyle Samani, I serve as Chairman of the Board of Directors of Forward Industries, Inc. I am pleased to welcome you to the 2026 annual meeting of shareholders of Forward Industries. I will serve as Chair of today's meeting. The rules of conduct for this meeting are available through the meeting portal. Please follow those rules we can conduct the meeting efficiently and fairly. With me is Georgia Quinn, Forward's General Counsel, who will act as Secretary of the meeting and Inspector of Election. Also joining us are members of the board of directors and management team. The meeting will now come to order. We will proceed with the formal business of the meeting as set forth in the notice of annual meeting and accompanying proxy statement.
It is now 11:00 A.M. Eastern Time. I declare that the polls are open on all proposals to be voted on today. If you already voted by proxy, either by mail, telephone or online, you do not need to vote again. Only shareholders of record as of those as close of business on January 22nd, 2026, and beneficial owners who followed the voting instructions provided to them are entitled to vote at this meeting. Miss Quinn, could you please report on the mailing of meeting materials and the shareholder list?
Thank you, Mr. Samani. I have available at this meeting a complete list of the shareholders of record as of the record date. I also have an affidavit certifying that the notice of annual meeting and proxy statement were duly distributed to shareholders of record in accordance with applicable law and the company's governing documents. The affidavit and shareholder list will be filed with the records of this meeting. Shareholders representing a majority of outstanding shares of common stock entitled to vote at this meeting are present in person or by proxy. Accordingly, a quorum is present, and the meeting is duly constituted for the transaction of business. Shareholders entitled to vote may do so through the meeting platform. If you are entitled to vote and have not yet voted, or if you wish to change your previously cast vote, you may do so by following the voting instructions provided.
If you already voted by proxy or online, your vote cast during this meeting will supersede your prior vote. If you do not vote again today, your prior vote will stand. If any technical difficulties occur before adjournment, we may pause and reconvene in accordance with our bylaws. No advance notice of any other director nominations was received in accordance with the bylaws, so nominations are closed. We will now proceed with the formal business of the meeting. Mr. Samani?
The first proposal is the election of five directors to serve until the 2027 annual meeting of shareholders and until their successors are duly elected and qualified. The nominees are Sangita Shah, Keith Johnson, Michael Pruitt, Kyle Samani, and Saurabh Sharma. Each nominee has consented to serve if elected. The board of the directors recommend a vote for each nominee. The second proposal is ratification of the audit committee's appointments of CBIZ CPAs P.C. as the company's independent registered public accounting firm for the fiscal year ended September 30, 2026. The board of directors recommends a vote for this proposal. The third proposal is to approve an amendment to increase the number of shares available for issuance under Forward's 2021 Equity Incentive Plan to 8,724,667 shares of common stock. The board recommends a vote for this proposal.
The fourth proposal is to approve on an advisory basis the compensation paid to Forward's named executive officers as disclosed in the proxy statement. Although this vote is advisory and not binding, the board will carefully consider the results. The board recommends a vote for this proposal. The fifth proposal is to approve on an advisory basis the frequency of the advisory vote on executive compensation. Shareholders may vote for a frequency of 1 year, 2 years, or 3 years. The board of directors recommends a frequency of 3 years. The sixth proposal is to approve a change to Forward's state of incorporation from New York to Texas by means of a merger of Forward with and into a wholly owned Texas subsidiary as described in the proxy statement. The board of directors recommends a vote for this proposal.
The seventh proposal is to transact such other business as may properly come before the annual meeting or any adjournment or postponement. The board of directors is not aware of any additional matters to be presented. We will now proceed to voting on the proposals. Voting is by proxy and electronic ballot. You do not need to vote again if you have already submitted your proxy. If there is anyone entitled to vote who has not yet done so, this is the final opportunity to submit your vote. Each share of the company's common stock is entitled to one vote on each proposal. It is now roughly 11:06 A.M. Eastern Time, and I declare the poll is closed. No further votes will be accepted.
The voting has been completed. Based on the Inspector of Election report, the preliminary results are as follows. Proposal 1, each of the director nominees has received the requisite vote for election. Proposal 2, the ratification of CBIZ CPAs P.C. has received the requisite vote for approval. Proposal 3, the amendment to the 2021 Equity Incentive Plan has received the requisite vote for approval. Proposal 4, the advisory vote on executive compensation has received the requisite vote for approval. Proposal 5, the frequency option for the advisory vote on executive compensation receiving the highest number of votes is 3 years. Proposal 6, the proposal to change Forward's state of incorporation from New York to Texas has received the requisite vote for approval.
The final voting results will be reported in a current report on Form 8-K to be filed with the Securities and Exchange Commission within 4 business days, as required by the SEC rules.
This concludes the formal business of today's annual meeting. On behalf of the board of directors and management team, I would like to thank each of you for your continued support in Forward Industries. There being no further business today, I hereby declare the 2026 annual meeting of shareholders of Forward Industries, Inc. adjourned. Thank you, and have a great day.
The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.