Richard Isaacs - Aug 26, 2024 Form 3 Insider Report for Brand Engagement Network Inc. (BNAI)

Role: Director
Signature: /s/ Richard Isaacs
Stock symbol: BNAI
Transactions as of: Aug 26, 2024
Transactions value $: $0
Form type: 3
Date filed: 9/5/2024, 04:28 PM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	BNAI	Stock Option (Right to Buy)							Aug 26, 2024	Common Stock	122K	$8.11	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The stock options were granted to the Reporting Person pursuant to a stock option agreement (the "Option Agreement"), dated September 26, 2023, by and between the Reporting Person and Brand Engagement Network Inc., a Wyoming corporation ("Prior BEN"). In connection with its business combination, on March 14, 2024, Brand Engagement Network Inc., a Delaware corporation (the "Company"), as the entity surviving the business combination, assumed the existing options of Prior BEN. Shares reported herein are shares of the Company on an as-converted basis. Two-thirds (2/3rds) of the shares vested on the date of grant, and the remaining balance shall vest on the first anniversary of the date of grant, subject to the terms and conditions of the Option Agreement.

Content

The stock options were granted to the Reporting Person pursuant to a stock option agreement (the "Option Agreement"), dated September 26, 2023, by and between the Reporting Person and Brand Engagement Network Inc., a Wyoming corporation ("Prior BEN"). In connection with its business combination, on March 14, 2024, Brand Engagement Network Inc., a Delaware corporation (the "Company"), as the entity surviving the business combination, assumed the existing options of Prior BEN. Shares reported herein are shares of the Company on an as-converted basis. Two-thirds (2/3rds) of the shares vested on the date of grant, and the remaining balance shall vest on the first anniversary of the date of grant, subject to the terms and conditions of the Option Agreement.