Adam Scott Falkoff - May 20, 2021 Form 4 Insider Report for BASANITE, INC. (BASA)

Role: Director
Signature: /s/ Adam Scott Falkoff
Stock symbol: BASA
Transactions as of: May 20, 2021
Transactions value $: $0
Form type: 4
Date filed: 5/24/2021, 06:16 PM
Next filing: Feb 3, 2022

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	BASA	Stock Option (Right to Buy)	Award	$0	+500K		$0.00	500K	May 20, 2021	Common Stock	500K	$0.27	Direct	F1

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

Explanation of Responses:

Id	Content
F1	This non-qualified option to purchase up to 500,000 shares of the Issuer's common stock (the "Option") was issued to the Reporting Person on May 20, 2021 with an exercise price of $0.27 per share, which was the closing price of the Issuer's common stock on May 20, 2021. The Reporting Person's right to exercise the Option for all of the shares underlying the Option vested immediately and the Option is exercisable for the shorter of (i) five years from the date of issuance or (ii) one year from the date the Reporting Person ceases to serve as a member of the Issuer's Board of Directors.

Content

This non-qualified option to purchase up to 500,000 shares of the Issuer's common stock (the "Option") was issued to the Reporting Person on May 20, 2021 with an exercise price of $0.27 per share, which was the closing price of the Issuer's common stock on May 20, 2021. The Reporting Person's right to exercise the Option for all of the shares underlying the Option vested immediately and the Option is exercisable for the shorter of (i) five years from the date of issuance or (ii) one year from the date the Reporting Person ceases to serve as a member of the Issuer's Board of Directors.