Scott R. Silverman - Jan 6, 2022 Form 4 Insider Report for C-Bond Systems, Inc (CBNT)

Role
CEO, Director
Signature
/s/ Scott R. Silverman
Stock symbol
CBNT
Transactions as of
Jan 6, 2022
Transactions value $
$178,000
Form type
4
Date filed
1/10/2022, 03:45 PM
Next filing
Jan 19, 2023

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 CBNT Series B Convertible Preferred Stock Award $178K +178 +38.86% $1,000.00 636 Jan 6, 2022 Common Stock 6.61M $0.03 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 6, 2022, the Board of Directors ("Board") of C-Bond Systems, Inc. (the "Company") awarded an annual bonus to Mr. Silverman in the amount of $198,150, 90% of which was to be paid in the Company's Series B Convertible Preferred Stock, par value $0.10 ("Series B"), and the remaining 10% paid in cash. Mr. Silverman received 178 shares of Series B, which has a stated value of $1,000 per share. The Series B is convertible into shares of common stock, par value $0.001 ("Common Stock"), at $0.027 per share, the low trading price of the Common Stock on the date of the grant, subject to adjustment as described in the Company's Certificate of Designations of Preferences, Rights and Limitations of Series B Preferred Stock.
F2 The shares of Series B granted to Mr. Silverman vest on May 1, 2023, subject to extension as mutually agreed upon by the Board and Mr. Silverman.
F3 No expiration date.