Explanation:

- Option 1: Nizam Shah: There is no historical record of a Nizam Shah founding the Sayyid Dynasty. Nizam Shah is associated with the Deccan Sultanates, not the Sayyid Dynasty.

- Option 2: Muhammad-bin-Farid: This name does not have any significant historical connection with the founding of the Sayyid Dynasty.

- Option 3: Khizr Khan: He was the founder of the Sayyid Dynasty in 1414. Appointed by Timur as the governor of Multan, he later established authority over Delhi.

- Option 4: Bahlul Khan: He founded the Lodi Dynasty, not the Sayyid Dynasty which shows no connection to the Sayyids.