Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ________)*
| BioRestorative Therapies, Inc. |
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(Name of Issuer)
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| Common Stock, $.0001 Par Value |
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(Title of Class of Securities)
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| 090655408 |
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(CUSIP Number)
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Francisco Silva
40 Marcus Drive
Suite One
Melville, New York 11747
(631) 760-8100
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
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| March 18, 2021 |
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(Date of Event which Requires Filing of this Statement)
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If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box ☐.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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1
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NAMES OF REPORTING PERSONS
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Francisco Silva
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a)
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☐
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(b)
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☐
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS)
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N/A
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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United States
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7
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SOLE VOTING POWER
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595,707,049
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8
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SHARED VOTING POWER
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0
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9
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SOLE DISPOSITIVE POWER
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595,707,049
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10
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SHARED DISPOSITIVE POWER
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0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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595,707,049
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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16.5%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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IN
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ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of Common Stock, par value $.0001 per share (the “Common Stock”), of BioRestorative Therapies, Inc., a
Delaware corporation (the “Company”). The address of the principal executive offices of the Company is 40 Marcus Drive, Suite One, Melville, New York 11747.
ITEM 2. IDENTITY AND BACKGROUND.
(a) Name of Reporting Person:
Francisco Silva
(b) Residence or business address:
40 M
arcus Drive, Suite One
Melville, New York 11747
(c) The Reporting Person is employed as the Vice President, Research and Development of the Company.
(d) The Reporting Person has not been convicted in a criminal proceeding in the last five years.
(e) The Reporting Person has not, during the last five years, been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction resulting in a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to
such laws.
(f) The Reporting Person is a citizen of the United States of America.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
N/A
ITEM 4. PURPOSE OF TRANSACTION.
On March 18, 2021, the Company granted to the Reporting Person a ten year option for the purchase of 1,173,917,974 shares of Common
Stock of the Company at an exercise price of $0.0119 per share. The option is exercisable to the extent of (a) 586,958,987 shares effective as of the date of grant, (b) 293,479,494 shares effective as of March 18, 2022 and (c) 293,479,493 shares
effective as of March 18, 2023.
Reference is made to the Non-Qualified Stock Option Award Agreement incorporated herein by reference to the Company’s Current Report on
Form 8-K for an event dated March 18, 2021 (wherein such document is filed as Exhibit 99.5) for a complete description of the option granted to the Reporting Person.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of the date hereof, the Reporting Person is the beneficial owner of 595,707,049 shares of Common Stock of the Company (or
approximately 16.5% of the outstanding Common Stock of the Company based upon there being 3,016,743,991 shares of Common Stock of the Company outstanding as of March 17, 2021, as set forth in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2019, filed with the Securities and Exchange Commission on March 18, 2021). Of such number, 587,263,304 shares of Common Stock are issuable upon the exercise of options that are exercisable currently and 12,116 shares of Common
Stock are held by the Reporting Person in a retirement trust.
(b) The Reporting Person has sole voting and dispositive power over the 595,707,049 shares beneficially owned.
(c) During the past 60 days, the Reporting Person has not effected any transactions in the Common Stock of the Company, except as reported
in Item 4 hereof, and except that, on March 18, 2021, the Company granted to the Reporting Person 586,958,987 restricted stock units which vest in three equal annual installments commencing one year from the date of grant.
ITEM 6. CONTRACTS,
AGREEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.
See Item 5 hereof with respect to options held by the Reporting Person.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
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(1)
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Non-Qualified Stock Option Award Agreement, dated as of March 18, 2021, between the Company and the Reporting Person (incorporated by reference to
the Company’s Current Report on Form 8-K for an event dated March 18, 2021, wherein such document is identified as Exhibit 99.5)
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement with respect to myself is true, complete and correct.
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| Dated: March 19, 2021 |
By:
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/s/ Francisco Silva
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Francisco Silva
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