Sec Form 4 Filing - SMITH MARK A @ BION ENVIRONMENTAL TECHNOLOGIES INC - 2021-09-30

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person SMITH MARK A 2. Issuer Name and Ticker or Trading Symbol BION ENVIRONMENTAL TECHNOLOGIES INC [ BNET] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner X __ Officer (give title below) _____ Other (specify below) President (Last) (First) (Middle) 401 N. RIVERSIDE DRIVE #408 3. Date of Earliest Transaction (MM/DD/YY) 09/30/2021 (Street) POMPANO BEACH, FL33062 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 10/15/2021 G( 3 ) 32,000 D $ 0 309,722 D Common Stock 12/08/2021 A( 4 ) 25,171 A $ 0 334,893 D Common Stock 12/10/2021 D( 5 ) 50,816( 5 ) D $ 0 284,077( 5 ) D Common Stock 53,756 I Wife IRA Common Stock 62,535 I MAS IRA Common Stock 10/15/2021 G( 6 ) 40,000 D $ 0 113,432 I Lotaylingkyur LLC Common Stock 12/10/2021 D( 7 ) 13,431 D $ 0 100,001( 7 ) I Lotaylingkyur LLC Common Stock 12,681 I Lotaylingkyur Foundation

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 2020 Cnvertible Obligatioin $ 0.5 09/30/2021 D( 1 ) ( 1 ) ( 1 ) Common Stock $ 216,000 $ 0 $ 1,266,048.6( 1 ) D 2020 Convertible Obligation $ 0.5 12/07/2021 A( 1 ) ( 1 ) ( 1 ) Common Stock $ 36,000 $ 0 $ 1,302,048.6( 1 ) D Class MASSEXTAUG Warrants $ 0.6 11/25/2021 G( 2 ) 300,000 ( 2 ) ( 2 ) Common Stock 300,000 $ 0 0 D Class Warrants $ 0.75 12/08/2021 A 25,171( 4 ) ( 4 ) ( 4 ) Common Stock 25,171 $ 0 1,271,944( 4 ) D Options (right to buy)( 8 ) ( 8 ) ( 8 ) ( 8 ) Common Stock 2,225,000 2,225,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other SMITH MARK A 401 N. RIVERSIDE DRIVE #408 POMPANO BEACH, FL33062 X X President Signatures /s/ Mark A. Smith 12/15/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On the advice of the Company's auditing firm, the amount of salary added to the 2020 Convertible Obligation was reduced by $162,000. The amount as originally added and reported on Form 4 filed on July 30, 2021 was $216,000 based on pre-payment of Mr. Smith's compensation though the June 30, 2022 end of fiscal year. On 12/7/2021 $36,000 of Mr. Smith's salary was added to his 2020 Convertible Note. The balance of the 2020 Obligation of $1,302,048.60 is convertible into 2,604,098 shares of common stock and 2,604,098 warrants to purchase one share of common stock. ( 2 )On November 25, 2021 Mr. Smith gifted/donated 300,000 warrants to grandchildren and non-profit entities. Each of these gifted warrants carries an exercise bonus of 75 %. ( 3 )Between Oct 15 through Dec 12, 2021 32,000 shares of common stock were gifted to various individuals by Mark and Kelly Smith. ( 4 )On December 8, 2021 Mr. Smith converted $12,585.23 unreimbursed expenses into 25,171 units (at most recent PPM price) of $0.50 per unit consisting of one share of Bion common stock and one warrant. Each of these warrants carry an exercise bonus of 75%. The warrants are exercisable at $0.75/warrant until 12/31/2024. The total number of warrants owned by Mr. Smith after this transaction is a combination of various classes, exercise prices and exercise bonuses. ( 5 )The net reduction in the amount of 50,816 shares of common stock is due to booking errors made by Millennium Trust from dates commencing no later than January 2020. ( 6 )Between Oct 15 through Dec 12, 2021, 40,000 shares of common stock were gifted by Lotaylingkyur LLC which is controlled by Mr. Smith and his wife. ( 7 )The net reduction in the amount of 13,431 shares of common stock is due to booking errors made by Millennium Trust from dates commencing no later than January 2020 ( 8 )The total number of granted options to Mr. Smith as of this date represents various exercise prices of $0.60 to $1.20 and exercise bonus terms.

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