Mark A. Smith - Jan 23, 2024 Form 4 Insider Report for BION ENVIRONMENTAL TECHNOLOGIES INC (BNET)

Role: President, Director, 10%+ Owner
Signature: /s/ Mark A. Smith
Stock symbol: BNET
Transactions as of: Jan 23, 2024
Transactions value $: $0
Form type: 4
Date filed: 2/14/2024, 12:00 PM
Previous filing: Jan 8, 2024
Next filing: Apr 3, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BNET	Common Stock	Options Exercise	$0	+2.44M	+123.4%	$0.00	4.42M	Jan 23, 2024	Direct	F1
transaction	BNET	Common Stock	Options Exercise	$0	+85.4K		$0.00	85.4K	Jan 23, 2024	Lotaylingkyur LLC	F1
holding	BNET	Common Stock						53.8K	Jan 23, 2024	Wife IRA
holding	BNET	Common Stock						62.5K	Jan 23, 2024	MAS IRA
holding	BNET	Common Stock						12.7K	Jan 23, 2024	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	Class CAP2017 Warrants	Options Exercise	$0	-300K	-100%	$0.00^*	0	Jan 23, 2024	Common Stock		$0.75	Direct	F5
transaction	BNET	Class MAS Various Warrants	Options Exercise	$0	-1.6M	-100%	$0.00^*	0	Jan 23, 2024	Common Stock		$0.75	Direct	F6
transaction	BNET	Class MAS Various Warrants	Options Exercise	$0	-107K	-100%	$0.00^*	0	Jan 23, 2024	Common Stock		$0.75	Direct	F7
transaction	BNET	Class MAS Various Warrants	Options Exercise	$0	-820K	-100%	$0.00^*	0	Jan 23, 2024	Common Stock		$0.75	Direct	F8
transaction	BNET	Class FEB2021-2	Options Exercise	$0	-100K	-100%	$0.00^*	0	Jan 23, 2024	Common Stock		$0.75	Lotaylingkyur Inc.	F2
holding	BNET	2020 Non Adjusted Convertible Obligation						237K	Jan 23, 2024	Common Stock	237K	$0.50	Direct	F3
holding	BNET	Deferred Compensation						93.9K	Jan 23, 2024	Common Stock	93.9K	$0.75	Direct	F4
holding	BNET	Options (Right to Buy)						2.43M	Jan 23, 2024	Common Stock	2.43M		Direct	F5, F9

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On January 23, 2024 Mr. Smith and his spouse elected to exercise 2,827,196 warrants at an exercise price of $.75/warrant with price adjustments ranging from 75% to 90% which will result in the issuance of 2,439,426 shares of common stock. These warrants were exercised using the cashless exercise option. The administrative process involved in these exercises/issuances has been long and extended and none of the shares have been issued and delivered as of the date of filing this report. Details regarding these exercises are set forth in the notes below.
F2	On January 23, 2024 100,001 warrants registered to Lotaylingkyur, Inc. (controlled by Mr. & Mrs. Smith) were exercised at a price of $.75/warrant (with a 75% price adjustment), and 85,354 shares of common stock were issued (under Bion's S-8 Registration Statement and 2006 Incentive Plan).
F3	As of December 31, 2023, the balance of the 2020 Convertible Obligation owned by Mr. Smith was $118,731.68 convertible into 237,464 units (each unit consisting of one share and one warrant exercisable at $.75/warrant). Each warrant will include the potential to have a price adjustment of 75%.
F4	As of December 31, 2023, the balance of deferred compensation owed to Mr. Smith was $70,450 (convertible into 93,934 shares of common stock at $0.75 per share).
F5	On January 23, 2024, Mr. Smith exercised 300,000 Class CAP2017 warrants were exercised @ $.75/warrant (with a price adjustment of 90%) and 282, 422 shares of restricted stock were issued.
F6	On January 23, 2024, 1,600,487 Class MAS Various warrants were exercised at $0.75/warrant (with a price adjustment of 75%) and 1,366,042 shares were issued (under Bion's S-8 from the S-8 Registration Statement and 2006 Incentive Plan).
F7	On January 23, 2024, 106,500 Class MAS Various warrants were exercised at $0.75/warrant (with a price adjustment of 75%) and 90,900 shares of restricted stock were issued.
F8	On January 23, 2024, 820,209 Class MAS various warrants registered to Mr. Smith's spouse were exercised at $0.75 (with a price adjustment of 75%) and 700,062 shares were issued (under Bion's S-8 Registration Statement and 2006 Incentive Plan).
F9	These options are comprised of various classes and various exercise of prices with expiration dates ranging from 2024 to 2026 and exercise bonus terms ranging from 75% to 90%.