SILVERMAN SCOTT R 4
4 · C-Bond Systems, Inc · Filed Jan 10, 2022
Insider Transaction Report
Form 4
SILVERMAN SCOTT R
CEO, PRESIDENT
Transactions
- Award
Series B Convertible Preferred Stock
2022-01-06$1000.00/sh+178$178,000→ 636 totalExercise: $0.03From: 2023-05-01→ Common Stock (6,605,000 underlying)
Footnotes (3)
- [F1]On January 6, 2022, the Board of Directors ("Board") of C-Bond Systems, Inc. (the "Company") awarded an annual bonus to Mr. Silverman in the amount of $198,150, 90% of which was to be paid in the Company's Series B Convertible Preferred Stock, par value $0.10 ("Series B"), and the remaining 10% paid in cash. Mr. Silverman received 178 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 $0.027 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 Mr. Silverman vest on May 1, 2023, subject to extension as mutually agreed upon by the Board and Mr. Silverman.
- [F3]No expiration date.