BOLLINGER INNOVATIONS, INC. — Director's Dealing 2015

Sep 16, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Net Element, Inc. (NETE)
CIK: 0001499961
Period of Report: 2015-09-11

Reporting Person: Firer Oleg (Director, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-09-11	Restricted Shares of Common Stock	J	2142857	$0.14	Acquired	2142857	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-09-11	Restricted Options of Common Stock	$0.22	J	2142857	Acquired	2020-09-11	Restricted Shares of Common Stock (2142857)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Restricted Shares of Common Stock	3180655	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Incentive Stock Options	$1.34	2014-12-10	Common Stock (200000)	200000	Direct

Footnotes

F1: Net Element, Inc. issued 2,142,857 restricted shares of common stock to Star Equities, LLC pursuant to the terms of that certain Letter Agreement, dated as of September 11, 2015 (the "Letter Agreement"), with respect to equity funding of Net Element, Inc. by Star Equities, LLC and certain other investors parties thereto.

F2: Oleg Firer is a managing member of Star Equities, LLC. Mr. Firer disclaims beneficial ownership of the securities held by Star Equities, LLC except to the extent of his pecuniary interest in such securities.

F3: Option exercise price per share. Options are issued pursuant to the terms of the Letter Agreement.

F4: The incentive stock options to purchase 200,000 shares of common stock at an exercise price of $1.34 per share, as described under the Company's 2013 Equity Compensation Plan, are subject to vesting quarterly, starting January 1, 2015.