Bion Environmental Technologies Appoints New CFO
Ticker: BNET · Form: 8-K · Filed: Jul 3, 2024 · CIK: 875729
| Field | Detail |
|---|---|
| Company | Bion Environmental Technologies Inc (BNET) |
| Form Type | 8-K |
| Filed Date | Jul 3, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, management-change
TL;DR
Bion Environmental Technologies just hired a new CFO, Robert L. Johnson, effective June 27, 2024.
AI Summary
Bion Environmental Technologies, Inc. announced on June 27, 2024, the appointment of Mr. Robert L. Johnson as Chief Financial Officer and Corporate Secretary. Mr. Johnson brings extensive experience in financial management and corporate governance to the company. This appointment is part of Bion's ongoing efforts to strengthen its leadership team.
Why It Matters
The appointment of a new CFO can signal a strategic shift or a focus on financial stability and growth for Bion Environmental Technologies.
Risk Assessment
Risk Level: low — This filing primarily concerns a routine executive appointment and does not involve significant financial transactions or operational changes.
Key Players & Entities
- BION ENVIRONMENTAL TECHNOLOGIES, INC. (company) — Registrant
- Robert L. Johnson (person) — Appointed Chief Financial Officer and Corporate Secretary
- June 27, 2024 (date) — Effective date of appointment
- July 3, 2024 (date) — Date of report
FAQ
Who has been appointed as the new Chief Financial Officer and Corporate Secretary of Bion Environmental Technologies, Inc.?
Mr. Robert L. Johnson has been appointed as the new Chief Financial Officer and Corporate Secretary.
What is the effective date of Mr. Robert L. Johnson's appointment?
The appointment is effective as of June 27, 2024.
What are the new roles Mr. Robert L. Johnson will be undertaking?
Mr. Robert L. Johnson will serve as Chief Financial Officer and Corporate Secretary.
What is the filing date of this Form 8-K?
This Form 8-K was filed on July 3, 2024.
What is the state of incorporation for Bion Environmental Technologies, Inc.?
Bion Environmental Technologies, Inc. is incorporated in Colorado.
Filing Stats: 774 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2024-07-03 10:01:09
Filing Documents
- bion_8k.htm (8-K) — 30KB
- ex10x1.htm (EX-10.1) — 1KB
- ex10x2.htm (EX-10.2) — 5KB
- ex99x1.htm (EX-99.1) — 5KB
- image_001.jpg (GRAPHIC) — 259KB
- image_002.jpg (GRAPHIC) — 7KB
- 0001079973-24-001021.txt ( ) — 575KB
- bion-20240627.xsd (EX-101.SCH) — 3KB
- bion-20240627_lab.xml (EX-101.LAB) — 33KB
- bion-20240627_pre.xml (EX-101.PRE) — 22KB
- bion_8k_htm.xml (XML) — 3KB
01 Entry Into a Material Definitive
Item 1.01 Entry Into a Material Definitive Agreement. Effective June 27, 2024, the Board of Directors of the Company agreed to amend the terms of the material definitive agreements dated April 1, 2024 regarding voluntary surrender for cancellation of securities of the Company (and related matters) by: a) members of the family of Dominic Bassani, recently deceased former Chief Executive Officer and (with his family) the Company's largest shareholder (collectively "Bassani Family")(see Form 8-K dated April 3, 2024, Exhibit 10.1)("Bassani Family Agreement"), and b) Mark A. Smith, President of the Company and a director ("MAS")(see Form 8-K dated April 3, 2024, Exhibit 10.2)("MAS Agreement"). The Bassani Family and MAS entered into these agreements with the intention of mitigating dilution to shareholders as new, successor management is added to the Company's management team. The amendments solely extend any dates of certain required conversions and/or exercises (and related promissory note maturity dates and warrant expiration dates), if any, that were earlier than January 15, 2025 to said date. No changes were made regarding any give backs' of securities of the Company. On June 30, 2024, the Bassani Family provided the Company with their list regarding surrender of 20% of its Company holdings (as of December 2023)(See Exhibit 10.1 hereto). As previously reported, MAS has previously completed 100% of his give backs'.
02 Departure of Directors or Certain Officers;
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 27, 2024 Mr. Turk Stovall and Mr. Bob Weerts were appointed to the Board of Directors of the Company by the Board. See Exhibit 10.2 for information concerning Mr. Weerts. At the same Board meeting, MAS formally informed the Board of his intention that his long anticipated retirement from his various positions (including Director, President, Interim Chief Financial Officer and General Counsel) at the Company (and its subsidiaries) begin effective the end of business on July 31, 2024. The Board commenced discussion of how best to replace his services which discussion is on-going.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On July 1, 2024, the Company issued a press release entitled " Bion Announces New Board Members " which press release has been placed on the Investors page of our website.
01 Financial Statements
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 10.1 Bassani Family 20% give back' list (June 30, 2024) 10.2 Bob Weerts resume 99.1 Press Release titled " Bion Announces New Board Members " (dated July 2, 2024) 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BION ENVIRONMENTAL TECHNOLOGIES, INC. By: /s/ Mark A. Smith Date: July 3, 2024 Name: Mark A. Smith, President