Allison F. Tomek - Jan 17, 2023 Form 4 Insider Report for C-Bond Systems, Inc (CBNT)

Role
President, Director
Signature
/s/ Allison F Tomek
Stock symbol
CBNT
Transactions as of
Jan 17, 2023
Transactions value $
$54,000
Form type
4
Date filed
1/19/2023, 03:25 PM
Previous filing
Jan 10, 2022
Next filing
Jan 4, 2024

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 $54K +54 +36.99% $1,000.00* 200 Jan 17, 2023 Common Stock 9.82M $0.01 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 December 7, 2022, the Board of Directors ("Board") of the Company awarded an annual bonus for 2022 to Ms. Tomek in the amount of $600,000, 10% of which was to be paid in cash, and 90% of which was to be paid in the Company's equity. On January 17, 2023, the Board approved paying 90% of Ms. Tomek's 2022 bonus in the Company's Series B Convertible Preferred Stock, par value $0.10 ("Series B"). Ms. Tomek received 54 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 $0.0055 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 Ms. Tomek vest on May 1, 2024, subject to extension as mutually agreed upon by the Board and Ms. Tomek.
F3 No expiration date.