SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Parlow Christopher B.

(Last) (First) (Middle)
23 LONGBOW DRIVE

(Street)
COMMACK NY 11725

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BION ENVIRONMENTAL TECHNOLOGIES INC [ BNET ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2024
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 67,005 I Jointly with wife
Common Stock 250,000 I By Trust
Common Stock 50,000 I Minor Children
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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 (Month/Day/Year) 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: 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
Options (Right to buy) $0.75 06/30/2024 D(1) 500,000 (1) (1) Common Stock 0 $0.00 0(1) I D. Bassani 2019 Irrevocable Trust
Warrants (2) (2) (2) Common Stock 1,614,000 1,614,000 I By Trust
Warrants (3) (3) (3) Common Stock 150,000 150,000 D
Warrants (4) (4) (4) Common Stock 147,154 147,154 D
Warrants (5) (5) (5) Common Stock 459,780 459,780 I By Children
Warrants (6) (6) (6) Common Stock 1,500,000 1,500,000 I D. Bassani 2019 Irrevocable Trust
Adjusted 2020 Trust Convertible Obligation (7) (7) (7) See Note(7) (7) 229,638.51(7) I D. Bassani 2019 Irrevocable Trust
Explanation of Responses:
1. On June 30, 2024, Christopher Parlow voluntarily surrendered 500,000 options registered to the Dominic Bassani 2019 Irrevocable Trust ("2019 Trust") for cancellation. Christopher Parlow is the 50% beneficial owner of 1,000,000 options registered to the 2019 Trust.
2. As of June 30, 2024, 1,614,000 shares underlying warrants are held by the Christopher Parlow Trust with the exercise price of $.75 until
3. As of June 30, 2024, Mr. Parlow is the owner of 150,000 warrants with the exercise price of $.75 until January 15, 2025. These warrants carry a potential price adjustment of 90%.
4. As of June 30, 2024, 147,154 warrants are jointly owned with Christopher's spouse with the exercise price of $.75 until January 15, 2025. These warrants carry a potential price adjustment of 75%.
5. As of June 30, 2024, 459,780 warrants are registered to Mr. Parlow's minor children who reside with him. These warrants have an exercise price of $.75 with the potential price adjustment ranging from 75% to 90%. These warrants will expire on January 15, 2025.
6. As of June 30, 2024, Mr. Parlow is the owner of 1,500,000 warrants as 50% beneficial owner of the 2019 Trust. These warrants are exercisable at $.75 until January 15, 2025 and carry a potential price adjustment of 75%.
7. As of June 30, 2024 Mr. Parlow is the 50% beneficial owner of the Adjusted 2020 Trust Convertible Obligation in the amount of $459,277.02. As a result, Mr. Parlow is the owner of $229,638.51 of the note balance which is convertible @ $.0953 into 2,409,639 shares and 1,607,229 warrants.
/s/ Christopher B. Parlow 07/03/2024
** 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).
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