Mark A. Smith - 30 Sep 2021 Form 4 Insider Report for BION ENVIRONMENTAL TECHNOLOGIES INC (BNET)

Signature
/s/ Mark A. Smith
Issuer symbol
BNET
Transactions as of
30 Sep 2021
Net transactions value
-$126,000
Form type
4
Filing time
15 Dec 2021, 13:04:51 UTC
Previous filing
01 Sep 2021
Next filing
05 May 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BNET Common Stock Gift $0 -32,000 -9.4% $0.000000 309,722 15 Oct 2021 Direct F3
transaction BNET Common Stock Award $0 +25,171 +8.1% $0.000000 334,893 08 Dec 2021 Direct F4
transaction BNET Common Stock Disposed to Issuer $0 -50,816 -15% $0.000000 284,077 10 Dec 2021 Direct F5
transaction BNET Common Stock Gift $0 -40,000 -26% $0.000000 113,432 15 Oct 2021 Lotaylingkyur LLC F6
transaction BNET Common Stock Disposed to Issuer $0 -13,431 -12% $0.000000 100,001 10 Dec 2021 Lotaylingkyur LLC F7
holding BNET Common Stock 53,756 30 Sep 2021 Wife IRA
holding BNET Common Stock 62,535 30 Sep 2021 MAS IRA
holding BNET Common Stock 12,681 30 Sep 2021 Lotaylingkyur Foundation

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BNET 2020 Cnvertible Obligatioin Disposed to Issuer $162,000 $1,266,049 30 Sep 2021 Common Stock $216,000 $0.5000 Direct F1
transaction BNET 2020 Convertible Obligation Award $36,000 $1,302,049 07 Dec 2021 Common Stock $36,000 $0.5000 Direct F1
transaction BNET Class MASSEXTAUG Warrants Gift $0 -300,000 -100% $0.000000* 0 25 Nov 2021 Common Stock 300,000 $0.6000 Direct F2
transaction BNET Class Warrants Award $0 +25,171 +2% $0.000000 1,271,944 08 Dec 2021 Common Stock 25,171 $0.7500 Direct F4
holding BNET Options (right to buy) 2,225,000 30 Sep 2021 Common Stock 2,225,000 Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On the advice of the Company's auditing firm, the amount of salary added to the 2020 Convertible Obligation was reduced by $162,000. The amount as originally added and reported on Form 4 filed on July 30, 2021 was $216,000 based on pre-payment of Mr. Smith's compensation though the June 30, 2022 end of fiscal year. On 12/7/2021 $36,000 of Mr. Smith's salary was added to his 2020 Convertible Note. The balance of the 2020 Obligation of $1,302,048.60 is convertible into 2,604,098 shares of common stock and 2,604,098 warrants to purchase one share of common stock.
F2 On November 25, 2021 Mr. Smith gifted/donated 300,000 warrants to grandchildren and non-profit entities. Each of these gifted warrants carries an exercise bonus of 75 %.
F3 Between Oct 15 through Dec 12, 2021 32,000 shares of common stock were gifted to various individuals by Mark and Kelly Smith.
F4 On December 8, 2021 Mr. Smith converted $12,585.23 unreimbursed expenses into 25,171 units (at most recent PPM price) of $0.50 per unit consisting of one share of Bion common stock and one warrant. Each of these warrants carry an exercise bonus of 75%. The warrants are exercisable at $0.75/warrant until 12/31/2024. The total number of warrants owned by Mr. Smith after this transaction is a combination of various classes, exercise prices and exercise bonuses.
F5 The net reduction in the amount of 50,816 shares of common stock is due to booking errors made by Millennium Trust from dates commencing no later than January 2020.
F6 Between Oct 15 through Dec 12, 2021, 40,000 shares of common stock were gifted by Lotaylingkyur LLC which is controlled by Mr. Smith and his wife.
F7 The net reduction in the amount of 13,431 shares of common stock is due to booking errors made by Millennium Trust from dates commencing no later than January 2020
F8 The total number of granted options to Mr. Smith as of this date represents various exercise prices of $0.60 to $1.20 and exercise bonus terms.