4//SEC Filing
Parlow Christopher B. 4
Accession 0001079973-23-000258
CIK 0000875729other
Filed
Feb 26, 7:00 PM ET
Accepted
Feb 27, 9:41 PM ET
Size
9.4 KB
Accession
0001079973-23-000258
Insider Transaction Report
Form 4
Parlow Christopher B.
10% Owner
Transactions
- Disposition to Issuer
2020 Trust Convertible Obligation
2023-02-01(indirect: By Trust)Exercise: $0.50→ See footnote - Award
Adjusted 2020 Trust Convertible Obligation
2023-02-01(indirect: By Trust)Exercise: $0.10→ See footnote
Footnotes (2)
- [F1]On February 1, 2023, the principal of most of the 2020 Convertible Obligation of $2,296,385,10 was adjusted down by 80%. At the end of the maturity date of July 1, 2024 the balance of the 2020 Convertible Obligation would be $2,412,226.54 and would be convertible into 4, 824, 453 units of BNET restricted securities consisting of 4,824,453 shares and 3,217,911 warrants @ $.75 each exerciseable through three years after the conversion date. Each of these warrants carry an exercise bonus of 75%. The reporting person is beneficiary of 50% of the Trust.
- [F2]The principal note balance 'Adjusted 2020 Trust Convertible Obligation' will not accrue interest until the maturity date of July 1, 2024 with conversion terms of $.0953 replacing the prior conversion terms of $.50. This change will yield equity slightly less than the unadjusted 2020 Convertible Obligation would have received if converted on the maturity date. The balance of the Adjusted 2020 Convertible Obligation is $459,277.02 and is convertible into 4,819,277 units of BNET restricted securities consisting of 4,819,277 shares and 3,214,458 warrants @ $.75 each exerciseable through three years after the conversion date. Each of these warrants carry an exercise bonus of 75%. As 50% beneficiary of the Trust, the reporting person indirectly owns $229,638.51 of the Adjusted 2020 Trust Convertible Obligation.
Documents
Issuer
BION ENVIRONMENTAL TECHNOLOGIES INC
CIK 0000875729
Entity typeother
Related Parties
1- filerCIK 0001773330
Filing Metadata
- Form type
- 4
- Filed
- Feb 26, 7:00 PM ET
- Accepted
- Feb 27, 9:41 PM ET
- Size
- 9.4 KB