Statement of Changes in Beneficial Ownership (4)
January 19 2023 - 4:25PM
Edgar (US Regulatory)
FORM 4
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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SILVERMAN SCOTT R |
2. Issuer Name and Ticker or Trading Symbol
C-Bond Systems, Inc
[
CBNT
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CEO |
(Last)
(First)
(Middle)
6035 SOUTH LOOP EAST |
3. Date of Earliest Transaction
(MM/DD/YYYY)
1/17/2023 |
(Street)
HOUSTON, TX 77033
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock | 1/17/2023 | | A | | 54545455 (1) | A | $0.0055 | 64315575 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Series B Convertible Preferred Stock (1) | $0.0055 | 1/17/2023 | | A | | 90 (2) | | 5/1/2024 (3) | (4) | Common Stock | 16363636 | $1000 (2) | 745 (2) | D | |
Explanation of Responses: |
(1) | On January 17, 2023, Scott R. Silverman entered into a subscription agreement with C-Bond Systems, Inc. (the "Company"), pursuant to which he purchased $300,000 of the Company's common stock, par value $0.001, at $0.0055 per share. The shares are not registered. |
(2) | On December 7, 2022, the Board of Directors ("Board") of the Company awarded an annual bonus for 2022 to Mr. Silverman in the amount of $100,000, 10% of which was to be paid in cash, and 90% of which was to be paid in the Company's equity. On January 17, 2023, the Board approved paying 90% of Mr. Silverman's 2022 bonus in the Company's Series B Convertible Preferred Stock, par value $0.10 ("Series B"). Mr. Silverman received 90 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 $0.0055 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. |
(3) | The shares of Series B granted to Mr. Silverman vest on May 1, 2024, subject to extension as mutually agreed upon by the Board and Mr. Silverman. |
(4) | No expiration date. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
SILVERMAN SCOTT R 6035 SOUTH LOOP EAST HOUSTON, TX 77033 | X |
| CEO |
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Signatures
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/s/ Scott R. Silverman | | 1/19/2023 |
**Signature of Reporting Person | Date |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
Note: | File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. |
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
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