BOLLINGER INNOVATIONS, INC. — Director's Dealing 2017

Mar 2, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Net Element, Inc. (NETE)
CIK: 0001499961
Period of Report: 2017-02-28

Reporting Person: New Jonathan (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-28	Restricted Shares of Common Stock	A	12568	—	Acquired	30232	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-28	Options to Purchase Shares of Common Stock	$0.813	A	120000	Acquired	2027-02-28	Options to Purchase Shares of Common Stock (120000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	575	Indirect
Common Stock	1075	Indirect

Footnotes

F1: Net Element, Inc. (the "Company") awarded to Jonathan New, Chief Financial Officer of the Company, 12,568 Restricted Shares (as defined in the Company's 2013 Equity Incentive Plan, as amended (the "Plan"), vesting as follows: (i) 50% of such shares vest on the grant date, and (ii) the balance 50% of such shares vest quarterly in 4 equal proportions over a period of 4 quarters.

F2: Net Element, Inc. awarded 120,000 options to purchase shares of common stock to Jonathan New pursuant to the terms of the Plan.

F3: Options vest as follows: (i) 50% of the option shares vest on the grant date, and (ii) the balance 50% of the option shares vest quarterly in 4 equal proportions over a period of 4 quarters.