Bion Environmental (BNET) Form 3 BION ENVIRONMENTAL / William F. Rupp ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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^*

Rupp William F.

(Last) (First) (Middle)

C/O BION ENVIRONMENTAL TECHNOLOGIES INC

PO BOX 323

(Street)

OLD BETHPAGE NY 11804

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/15/2023

3. Issuer Name and Ticker or Trading Symbol
BION ENVIRONMENTAL TECHNOLOGIES INC [ BNET ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options (Right to Buy)(1)	02/07/2023	12/31/2006	Common Stock	50,000	2	D
Warrants CLASSADVISORY-1(2)	09/30/2022	08/31/2025	Common Stock	25,000	1.5	I	William F. Rupp Irrevocable Trust
Warrants CLASSCONSULT-1(3)	09/30/2022	08/31/2025	Common Stock	50,000	1.5	I	William F. Rupp Irrevocable Trust

Explanation of Responses:

1. On February 15, 2023, Mr. Rupp joined the Board of Directors of Bion Environmental Technologies, Inc. and was granted 50,000 options that carry an exercise bonus of 50 percent.

2. On September 20, 2022, Mr. Rupp joined Bion's Advisory Group and was issued 25,000 warrants in lieu of cash compensation.

3. On September 20, 2022, Mr. Rupp was issued 50,000 warrants for consulting services. The total number of warrants owned by the reporting person is 75,000.

	/s/ William F. Rupp	03/20/2023
	** 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 5 (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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