Form 4: Brand Engagement Network Inc. Insider Transactions: Tyler J. Luck and October 3rd Holdings, LLC Report Ownership Changes

Tyler J. Luck, Chief Product Officer and Director of Brand Engagement Network Inc., along with October 3rd Holdings, LLC, reported transactions involving common stock, including acquisitions through debt exchange and restricted stock grants.

Summary

• On June 30, 2024, October 3rd Holdings, LLC acquired 93,333 shares of Brand Engagement Network Inc. common stock at $4.50 per share in exchange for outstanding indebtedness of the company.
• As of June 30, 2024, Tyler J. Luck indirectly owns 8,765,568 shares through October 3rd Holdings, LLC.
• On December 31, 2024, Tyler J. Luck acquired 6,874 shares of restricted stock granted under the company's 2023 Long-Term Incentive Plan at $0.00.
• As of December 31, 2024, Tyler J. Luck directly owns 6,874 shares of restricted stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it primarily reports transactions. The debt exchange could be viewed as slightly positive, but overall, it's a factual disclosure.

Positives

• The acquisition of shares via debt exchange could be seen as a positive sign, indicating confidence in the company's future.

Risks

• Tyler J. Luck may be deemed to be a member of a group with respect to the Company or securities of the Company for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended (the 'Exchange Act').

Management Comments

• Tyler J. Luck disclaims beneficial ownership of the securities held by October 3rd except to the extent of his pecuniary interest therein.

Industry Context

Insider trading activity is always closely watched by investors as it can provide insights into management's view of the company's prospects. This filing is a routine disclosure of such activity.

Stakeholder Impact

• The transactions may influence investor perception of the company's stock.

Key Dates