BIOADAPTIVES (BDPT) director receives Series D preferred stock as board compensation
Rhea-AI Filing Summary
BIOADAPTIVES, INC. director Mark P. Frissora reported an issuance of 4,717 shares of Series D Convertible Preferred Stock as compensation for board services under a Board of Directors Agreement. These preferred shares are convertible into 471,700 shares of common stock at a 100-for-1 ratio, subject to a 4.9% beneficial ownership limitation.
After this transaction, he holds 76,271 shares of Series D Convertible Preferred Stock directly. Each preferred share carries 100 votes on stockholder matters and cannot be converted until six months after issuance, except that conversion occurs immediately in a liquidation, with the conversion right not expiring.
Positive
- None.
Negative
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Series D Convertible Preferred Stock | 4,717 | $0.00 | -- |
Footnotes (1)
- Represents shares of Series D Convertible Preferred Stock issued as compensation for board services pursuant to that certain Board of Directors Agreement, dated February 3, 2025, between the Issuer and the Reporting Person. The Reporting Person's shares of Series D Convertible Preferred Stock, par value $0.0001 per share, are convertible into shares of common stock, par value $0.0001 per share, at a ratio of 100 shares of common stock for each share of Series D Convertible Preferred Stock, subject to a 4.9% beneficial ownership limitation. No shares of Series D Convertible Preferred Stock may be converted until six months after the date of issuance, except in the case of liquidation, whereupon the conversion will occur immediately. Each share of Series D Convertible Preferred Stock outstanding at the time of a meeting of stockholders or a solicitation of consent is entitled to 100 votes on matters of the Issuer, without regard to the beneficial ownership limitation. The right to convert does not expire.
Key Figures
Key Terms
Series D Convertible Preferred Stock financial
beneficial ownership limitation regulatory
par value financial
Board of Directors Agreement financial
FAQ
What insider transaction did BIOADAPTIVES (BDPT) director Mark P. Frissora report?
Mark P. Frissora reported receiving 4,717 shares of Series D Convertible Preferred Stock as compensation for board services. This is a non‑cash award under a Board of Directors Agreement and represents a derivative security linked to BIOADAPTIVES common stock.
What is the conversion ratio of BIOADAPTIVES (BDPT) Series D Convertible Preferred Stock?
Each share of BIOADAPTIVES Series D Convertible Preferred Stock is convertible into 100 shares of common stock. The filing states a 100-for-1 conversion ratio between preferred and common shares, creating significant potential common stock exposure per preferred share.
Are there ownership limits on converting BIOADAPTIVES (BDPT) Series D Convertible Preferred Stock?
Yes. Conversion of BIOADAPTIVES Series D Convertible Preferred Stock is subject to a 4.9% beneficial ownership limitation. This cap restricts conversions that would push the holder’s beneficial ownership above 4.9%, limiting how much can be turned into common stock at one time.