Form 4: Bion Environmental Technologies President Mark Smith Reports Changes in Beneficial Ownership

Mark Smith, President of Bion Environmental Technologies, reports adjustments to his holdings, including stock ownership, convertible obligations, deferred compensation, and options.

Summary

• On April 3, 2024, Mark Smith, President of Bion Environmental Technologies, filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• As of April 1, 2024, Mr. Smith and his spouse own 4,421,102 shares of common stock, with 1,624,323 shares registered to his wife.
• Mr. Smith corrected an error in a previous filing, noting that the total number of shares of common stock was understated by 4,847 shares on the February 14, 2024 Form 4 report.
• As of March 31, 2024, Mr. Smith held a $119,903.63 balance in a 2020 Convertible Obligation, which is convertible into 239,808 units, each consisting of one share and one warrant exercisable at $0.75 per warrant.
• On April 1, 2024, Mr. Smith voluntarily waived his claim to $56,250 of deferred compensation, which was convertible into 75,000 shares of common stock.
• The remaining balance of his deferred compensation as of April 1, 2024, is $45,100, convertible into 60,134 shares of common stock.
• Also on April 1, 2024, Mr. Smith voluntarily surrendered 2,425,000 options for cancellation.

Sentiment

Score: 6

Explanation: Neutral sentiment as the filing primarily reflects adjustments in ownership rather than significant positive or negative developments. The voluntary surrender of options and deferred compensation could be seen as slightly positive, but it's not a major event.

Positives

• Mr. Smith voluntarily waived $56,250 of deferred compensation, which was convertible into 75,000 shares of common stock.
• Mr. Smith voluntarily surrendered 2,425,000 options for cancellation on April 1, 2024.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be a signal to investors.

Stakeholder Impact

• The changes in beneficial ownership may be of interest to shareholders as it provides insight into the actions of a key executive.

Key Dates

Keywords

Form 4, Beneficial Ownership, Securities, Convertible Obligation, Deferred Compensation, Options, Common Stock, Bion Environmental Technologies, BNET, Insider Trading