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

Reporting relationship: Director
Issuer ticker: CBNT
Reported as of: 02 Jan 2024
Net transaction value: +$50,000
SEC form: 4
Accepted by SEC: 04 Jan 2024, 16:30:20 UTC
Prior SEC filing: 19 Jan 2023
Source filing: View source filing
Reporting owner signature: /s/ Barry Edelstein

Key filing fact

Barry M. Edelstein filed Form 4 for C-Bond Systems, Inc (CBNT) on 04 Jan 2024.

Key facts

This page summarizes Barry M. Edelstein's Form 4 filing for C-Bond Systems, Inc (CBNT).
1 reported transaction and 1 derivative row are listed below.
Accepted by SEC: 04 Jan 2024, 16:30.

Change

Previous filing in this sequence was filed on 19 Jan 2023.
Current net transaction value: +$50,000.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CBNT transaction Derivative

Series B Convertible Preferred Stock

Award

Transaction value: $50,000
Shares: +50
Change %: +122%
Price: $1000.00^*
Shares after: 91
Date: 02 Jan 2024
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 8,333,333
Exercise price: $0.006000
Footnotes: F1, F2, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote 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.

Footnote 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.

Footnote F3

No expiration date.