{ "ticker": "FWDI", "company": "Forward Industries, Inc.", "cik": "0000038264", "exchange": "NasdaqCM", "gics_sector": "Consumer Discretionary", "industry": "Consumer Discretionary", "logo_url": "https://www.google.com/s2/favicons?domain=forwardindustries.com&sz=128", "from_state": "NY", "to_state": "TX", "effective_date_iso": "2026-03-05", "actual_effective_date_iso": "2026-03-05", "proposed_effective_date_iso": null, "source_confidence": "VERIFIED_EFFECTIVE", "is_legal_precedent": 0, "vote_mechanism": null, "approval_basis": "For \u00f7 outstanding voting power (NY BCL conversion / merger; 2026 attempt via NY\u2192TX merger)", "threshold_result": "PASSED", "event_type": "MERGER_SUB", "two_attempt_flag": 0, "prior_failed_vote_flag": 0, "governance_concession_redo_flag": 0, "subsequent_event_flag": 0, "subsequent_event_type": null, "subsequent_event_date_iso": null, "subsequent_event_note": null, "public_tier": "VERIFIED_TRACKER", "event_study_announcement_json": "{\"event_date\":\"2025-12-29\",\"event_tag\":\"announcement\",\"estimation_window\":\"2025-01-14 to 2025-12-26 (240 days)\",\"specifications\":[{\"name\":\"Synthetic control (19-donor Consumer Discretionary peer pool)\",\"day0_ar\":-0.06449862911981277,\"p_value\":null,\"p_label\":\"no inference (point estimate)\",\"extra\":{\"pre_rmspe\":0.0812745401291601,\"n_donors\":19,\"top_weights\":{\"ROST\":0.4549,\"ORLY\":0.1539,\"LOW\":0.144,\"AMZN\":0.1409,\"BBY\":0.1063},\"r2_pre\":-0.4274502746115687}},{\"name\":\"Market model (SPY benchmark)\",\"day0_ar\":-0.07315297291004111,\"p_value\":0.3740326148728941,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":0.004065541329174405,\"beta\":0.17226315481661997,\"r2\":0.0006812600352588127}},{\"name\":\"Sector-augmented model (SPY + Consumer Discretionary ETF (XLY))\",\"day0_ar\":-0.0605659805934405,\"p_value\":0.45315160328549897,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":0.004956496488125828,\"beta_mkt\":-2.3845546677355154,\"beta_sector\":2.297526491747068,\"r2\":0.037655824805844396},\"is_headline\":true},{\"name\":\"Matched pair (vs ROST, market-model-adjusted)\",\"day0_ar\":-0.07296862865984984,\"p_value\":0.3810073842746391,\"p_label\":\"two-sided p-value\",\"extra\":{\"se\":0.08329355973025289,\"t\":-0.8760416639192699}},{\"name\":\"Raw differential vs ROST\",\"day0_ar\":-0.06738264358037926,\"p_value\":null,\"p_label\":\"no inference\",\"extra\":{}}],\"robustness\":{\"pretrend_test\":{\"slope_pct_per_day\":-0.006543924824407649,\"p_slope\":0.3917072277972913,\"verdict\":\"no_pretrend_detected\"},\"sign_test\":{\"n_same_direction\":15,\"n_total\":19,\"binomial_p_two_sided\":0.0192108154296875},\"synth_fit\":{\"pearson_corr\":0.45046246235547277,\"r_squared_levels\":-0.4274502746115687,\"durbin_watson\":1.9138667665384104}},\"per_window\":[],\"_source\":\"Source A: phase4v cohort runner (5 specs + robustness, 2026-04-28 yfinance pull); joined into data.json by phase5z_join_full_battery.py\",\"event_kind\":\"announcement\",\"t0_source_field\":\"announcement_date_iso\"}", "announcement_date_iso": "2026-01-16", "meeting_date_iso": "2026-03-03", "vote_result": "APPROVED", "status_label": "COMPLETED", "market_cap_usdmm": 378.7, "bucket_class": "B1", "public_bucket_code": "C", "public_bucket_label": "Post-SB29 DExit completed (Texas)", "public_bucket_subcode": "C-TX", "panel_eligibility": "PANEL_A_post_SB29", "transaction_status": "COMPLETED", "audit_status": "VERIFIED_EDGAR", "audit_notes": "| Effective date present but no Accession URL in v6 rev78; retrieve from EDGAR. | v2.9: status CLAIMED_COMPLETED_UNVERIFIED \u2014 eff_date present but EDGAR URL missing; reclassify to COMPLETED after 8-K verification | v2.9.2: promoted to VERIFIED_EDGAR + COMPLETED \u2014 Forward Industries \u2014 Confirmed in BLP April 2026 update + DEF 14A/8-K filings; reincorporation NY\u2192TX completed | [2026-04-28] Phase 4I: replaced Google-search IR fallback with direct URL https://forward-industries.com/investor-relations | [2026-04-28] Phase 4K: corrected meeting date (was 2026-02-27, actually 2026-03-03 annual meeting). Mechanism was MERGER with wholly-owned Texas subsidiary (event_type=MERGER_SUB), not direct conversion. NY->TX move. | [2026-04-28] Phase 4N: synthesized event_study_announcement_json from existing scalar CAR cells (phase4a_v2 join). Reviewer can extend with multi-spec analysis.\n[2026-04-28] phase5c: vote source 8-K 0001683168-26-001618 (2026-03-09, \u0394=6d) applied from EDGAR pull (status=AUTO_RESOLVED)\n[2026-04-28] phase5e: cleaned edgar_accession_canonical: extracted '0001683168-26-000507' from raw value '000168316826000507 (DEF 14A); 000168316826000375 (PRE 14A); 8-K Mar 3, 2026 shareholder approval; Mar 5, 2026 effective' (source=unhyphenated_normalized)\n[2026-04-28] phase5c: vote source 8-K 0001683168-26-001618 (2026-03-09, \u0394=6d) applied from EDGAR pull (status=AUTO_RESOLVED)\n[2026-04-29] phase5r: bucket 'C' -> 'B1' (NY->TX effective 2026-03-05 >= SB29 -> bucket B1 (post-SB29; NON-DE OUTBOUND - flag for Shane review))\n[2026-04-29] phase5t: FWDI vote_mechanism cleared from invalid value 'MERGER_SUB' to None (NULL); the value 'MERGER_SUB' is not in the protocol vocabulary (MEETING / WRITTEN_CONSENT / M&A_BUNDLED_REDOMICILE). Suggests prior data entry intended M&A_BUNDLED_REDOMICILE (merger-subsidiary structure); needs primary-source verification before reapplying. WebSearch on 2026-04-29 did not surface a specific FWDI 8-K confirming the mechanism\n[2026-04-29] phase5u: row independently validated by external Reviewer (full-residual pass, 78/276 substantive answers); validations applied: V_DATE_ANN=CONFIRM; V_DATE_MEET=CONFIRM; V_DATE_EFF=CONFIRM; V_MECHANISM=CONFIRM; V_FROM_TO=CONFIRM; V_BUCKET=WRONG=B1; V_COHORT=CONFIRM_INCLUSION; primary-source URLs all under https://www.sec.gov/Archives/\n[2026-04-29] phase5v: row independently re-validated by external Reviewer (Round 4 full-residual pass, 85/276 substantive); all bucket and pending-status conclusions match v3.57\n[2026-04-29] phase5w: comprehensive validation by external reviewer across tranches v5 (4-version full residual walk, 269 substantive answers across 52 firms, 0 bucket drifts vs v3.58) | [2026-04-29] v3.75: VERIFIED \u2014 TWO-ATTEMPT firm. (1) 2025 attempt NY\u2192NV via DGCL/state-conversion mechanism: FAILED \u2014 won majority of votes cast but failed majority-of-outstanding test (Aug 8, 2025 annual meeting). (2) 2026 attempt NY\u2192TX via MERGER (not conversion). Vote tabulator deadline March 2, 2026. Reincorporation paired with digital-asset-treasury pivot. Item 5.07 outcome pincite pending. | v3.84-rev3 TRIPLE CORRECTION: (1) from_state changed from 'DE' to 'NY' \u2014 Forward Industries was incorporated in New York, not Delaware. (2) to_state changed from 'NV' to 'TX' \u2014 the NV attempt FAILED at the August 8, 2025 annual meeting; the CURRENT attempt is to Texas. (3) announcement_date changed from 2025-12-29 to 2026-01-16 (PRE 14A filing for the TX attempt, acc 0001683168-26-000976). DEF 14A filed 2026-01-26. The \u22127.32% Day-0 AR previously computed at 2025-12-29 was measuring noise unrelated to either reincorporation attempt. NOTE: the failed NV attempt (Aug 2025) is methodologically interesting as a no-event-occurred baseline but is not currently in the cohort. | v3.84-rev5c [2026-04-30] promoted to HIGH date_quality_flag per v3.84-rev3 EDGAR-verified primary-source date correction (NY->TX, NV-attempt failed); primary-source EDGAR confirmation.", "edgar_accession": "0001683168-26-000507", "edgar_accession_note": null, "links": [ { "label": "IR", "url": "https://forward-industries.com/investor-relations", "link_type": "ir" }, { "label": "EDGAR", "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000038264&type=&dateb=&owner=include&count=40", "link_type": "search" }, { "label": "Proxy", "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000038264&type=DEF+14A&dateb=&owner=include&count=40", "link_type": "search" } ], "car": { "value": -0.2375098001263393, "pvalue": 0.1333333333333333, "significant_5pct": 0, "specification": "synthetic_control", "event_date": "2026-01-26", "event_tag": "filing_date", "confound": "MEDIUM", "placebo_ratio": 0.8493812398824186, "pre_rmspe": 0.07378309777455333, "source": "Event_Studies/results/per_firm_event_study.csv", "status": "ESTIMATED", "pooled_3primary": 0.2760064940242686, "t0_a": 0.5256515296667997, "t0_b": -0.103475279460466, "t0_c": -0.1461697561820652, "announce": { "value": -0.2375098001263393, "pvalue": 0.1333333333333333, "specification": "synthetic_control", "event_date": "2026-01-26" }, "vote": { "value": -0.103475279460466, "pvalue": null, "specification": "panel_A_T0_vote", "event_date": null } }, "votes_for": null, "votes_against": null, "votes_abstain": null, "votes_broker_nonvote": null, "approval_pct": null, "votes_for_disinterested": null, "votes_against_disinterested": null, "votes_abstain_disinterested": null, "votes_broker_nonvote_disinterested": null, "approval_pct_disinterested": null, "approval_basis_disinterested": null, "announcement_PRE_14A_accession": null, "announcement_PRE_14A_url": null, "vote_source_8k_accession": "0001683168-26-001618", "vote_source_8k_url": "https://www.sec.gov/Archives/edgar/data/38264/000168316826001618/forward_8k.htm", "vote_proposal_title": null, "meeting_type": null, "approval_standard": "majority of outstanding shares entitled to vote (NY Business Corporation Law \u00a7902/\u00a7903 \u2014 fundamental change)", "companion_proposal": null, "proxy_advisors": null, "management_response": null, "press_coverage": [], "prior_vote": null, "panel_a_tx_incumbent": 0, "panel_b_dexit_mover": 1, "texas_statutory_adoptions": { "tboc_21_552": { "name": "SB 29 \u2014 TBOC \u00a721.552 derivative threshold", "adopted": 0, "source": null, "url": null, "date": null }, "tboc_21_373": { "name": "SB 1057 \u2014 TBOC \u00a721.373 shareholder-proposal threshold", "adopted": null, "source": null, "url": null, "date": null } }, "event_study_outcome_json": "{\"event_date\":\"2026-03-05\",\"event_kind\":\"outcome\",\"event_tag\":\"outcome\",\"t0_source_field\":\"actual_effective_date_iso\",\"estimation_window\":\"trailing 240 days; 240 valid after NaN drop\",\"specifications\":[{\"name\":\"Market model (SPY benchmark)\",\"day0_ar\":-0.041642936025844,\"p_value\":0.6247560180166674,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":0.004381760840820338,\"beta\":0.32306937504301214,\"r2\":0.002082900591496628,\"sigma\":0.08490993969517055},\"is_headline\":true}],\"_meta\":{\"n_valid_pre_days\":240},\"_source\":\"Source B: phase4v3 NaN-safe runner (outcome/vote window, 2026-04-29 yfinance pull); joined by phase5z_join_full_battery.py\"}", "first_sec_disclosure_date": "2026-01-16", "first_sec_disclosure_form": "PRE 14A", "first_sec_disclosure_accession": "0001683168-26-000976", "first_sec_disclosure_url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000038264&type=PRE+14A", "announcement_source_type": "DEF14A", "announcement_accession_verified": "Y", "date_quality_flag": "HIGH", "controlled": null, "controller_pct_voting_power": null, "controller": null, "controller_source": "UNKNOWN", "_evidence_strength": { "badge": "SILVER", "score": 75, "max": 100, "components": { "source_confidence": 30, "vote_totals": 0, "effective_date": 20, "car_estimate": 10, "edgar_accession": 15 } }, "_context_callout": "Standard cohort firm (Completed). Included for breadth across destinations and sectors.", "_generated_at": "2026-04-30" }