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Forward Industries Urges SkyAI Shareholders to Vote Against Equity Plan

Forward Industries (NASDAQ: FWDI) urges SkyAI shareholders to vote against the 2026 Equity Incentive Plan and withhold on director nominees at the Sept. 18 annual meeting.

This news matters because it highlights an escalating battle for control and strategy at SkyAI, with Forward Industries pushing for shareholder action that could reshape the company's leadership and compensation practices. The rejected acquisition proposal represented a tangible opportunity for SkyAI investors to exit at a 20% premium, and its rejection may signal deeper governance or valuation concerns. By urging a vote against the equity incentive plan and withholding on director nominees, Forward is effectively challenging SkyAI's current board and management, arguing that change is needed to address losses and underperformance. For shareholders, the upcoming annual meeting is a critical decision point that could influence SkyAI's future direction, potential deal prospects, and overall value. The outcome may also set a precedent for how activist investors engage with small-cap companies in the crypto and technology sectors, making it a notable event for market watchers and stakeholders alike.