C-Bond Systems (CBNT) Form 4 C-Bond Systems / SCOTT R SILVERMAN ownership change

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).

1. Name and Address of Reporting Person^*

SILVERMAN SCOTT R

(Last) (First) (Middle)

6035 SOUTH LOOP EAST

(Street)

HOUSTON TX 77033

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
C-Bond Systems, Inc [ CBNT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/17/2023

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	01/17/2023		A		54,545,455(1)	A	$0.0055	64,315,575	D

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
Series B Convertible Preferred Stock(1)	$0.0055	01/17/2023		A		90(2)		05/01/2024(3)	(4)	Common Stock	16,363,636	$1,000(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.

	/s/ Scott R. Silverman	01/19/2023
	** 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).
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