Barry M. Edelstein - 02 Jan 2024 Form 4 Insider Report for C-Bond Systems, Inc (CBNT)

Role
Director
Signature
/s/ Barry Edelstein
Issuer symbol
CBNT
Transactions as of
02 Jan 2024
Net transactions value
+$50,000
Form type
4
Filing time
04 Jan 2024, 16:30:20 UTC
Previous filing
19 Jan 2023
SEC
View on sec.gov

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 $50,000 +50 +122% $1000.00* 91 02 Jan 2024 Common Stock 8,333,333 $0.006000 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, 2023, the Board of Directors ("Board") of the Company awarded an annual bonus for 2023 to Mr. Edelstein in the amount of $50,000, to be paid in the Company's Series B Convertible Preferred Stock, par value $0.10 ("Series B"). Mr. Edelstein received 50 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 $0.006 per share, the closing trading price of the Common Stock on the date before 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. Edelstein vest on May 1, 2025, subject to extension as mutually agreed upon by the Board and Mr. Edelstein.
F3 No expiration date.