Form 4: Brand Engagement Network Executive Reports Changes in Beneficial Ownership
SEC Form 4 Filing
James Dale Henderson Jr., Corporate Secretary and General Counsel of Brand Engagement Network Inc., reports changes in his beneficial ownership of company stock and warrants.
Summary
- James Dale Henderson Jr., a Corporate Secretary and General Counsel of Brand Engagement Network Inc., filed a Form 4 detailing changes in his beneficial ownership.
- On March 14, 2024, Henderson reported transactions involving common stock and warrants of Brand Engagement Network Inc. (BNAI).
- The transactions relate to the conversion of stock options and warrants initially issued by the predecessor company, which were then assumed by Brand Engagement Network Inc. after its business combination with DHC Acquisition Corp.
- Henderson's holdings include 1,402,494 shares of common stock and a warrant to purchase 54,020 shares of common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 09/30/2021 | Brand Engagement Network Inc. (predecessor) awarded 250,000 fully vested stock options to Henderson. |
| 03/14/2023 | Date of warrant issuance. |
| 05/01/2023 | Henderson exercised stock options in full at $0.10 per share and the Predecessor issued Henderson a warrant to purchase 200,000 shares of Predecessor common stock. |
| 10/17/2023 | Form S-4 filed by DHC with the SEC regarding the business combination. |
| 02/12/2024 | Amendment to Form S-4 filed by DHC with the SEC regarding the business combination. |
| 03/14/2024 | Date of the reported transactions and filing of Form 4. |
| 05/01/2033 | Expiration date of the warrant. |
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