Form 4: Brand Engagement Network Inc. Executive Acquires Shares and Options
SEC Form 4
Ruy Carrasco, Chief Informatics Medical Officer of Brand Engagement Network Inc., reports acquisition of shares and stock options.
Summary
- On March 14, 2024, Ruy Carrasco, Chief Informatics Medical Officer of Brand Engagement Network Inc. (BNAI), filed a Form 4.
- The filing reports the acquisition of 27,010 shares of common stock at $0 and 67,525 stock options with an exercise price of $0.10.
- These acquisitions are related to the conversion of warrants and the vesting of stock options previously granted by Brand Engagement Network Inc.'s predecessor company.
- The stock options were granted on September 30, 2021, and vest over time.
Sentiment
Score: 6
Explanation: Neutral sentiment as it's a standard disclosure of insider transactions. The acquisition of shares and options by an officer could be seen as a positive signal, but it's not definitively bullish.
Positives
- The acquisition of shares and options by a company officer could be interpreted as a sign of confidence in the company's future prospects.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency regarding insider transactions in publicly traded companies.
Stakeholder Impact
- The transaction could have a minor positive impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 05/07/2021 | Brand Engagement Network Inc. issued Ruy Carrasco a warrant to purchase 100,000 shares of Predecessor common stock. |
| 07/16/2021 | Ruy Carrasco converted warrants in full at a conversion price of $0.10 per share. |
| 09/30/2021 | The Company provided Ruy Carrasco with an award of 250,000 stock options pursuant to the Predecessor's 2021 Incentive Stock Option Plan at an exercise price of $0.10 per share. |
| 03/14/2023 | Date of Stock Option (Right to Buy) |
| 02/12/2024 | Amendment to Form S-4 filed by DHC with the Securities and Exchange Commission. |
| 03/14/2024 | Date of the reported transaction (acquisition of shares and options). |
| 05/01/2025 | Expiration Date of Stock Option (Right to Buy) |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.