Quan Snizhana P. 4

What Happened

Quan Snizhana P., Principal Financial Officer of Lightwave Logic (LWLG), exercised 25,000 stock options on March 30, 2026 at an exercise price of $4.87 (cost $121,750) and sold 25,000 shares the same day in an open-market transaction at $7.27 per share for gross proceeds of $181,750. The sale proceeds exceeded the exercise cost by roughly $60,000 before taxes and fees. The filing also records a related derivative conversion/disposition line for 25,000 shares at $0.00, which appears tied to the exercise/settlement.

Key Details

• Transaction date: 2026-03-30 (Form 4 filed 2026-03-31 — filed next day, so timely)
• Exercise: 25,000 shares at $4.87 — total exercise cost $121,750
• Sale: 25,000 shares at $7.27 — gross proceeds $181,750
• Additional line: 25,000 shares listed as a derivative disposition at $0.00 (likely part of the exercise/settlement mechanics)
• Footnote: F1 states 8,337 options vested Jan 9, 2024; remaining options vest in eleven equal quarterly installments of 8,333 starting Apr 9, 2024; 24,999 options remain unvested and are subject to forfeiture if conditions aren’t met.
• Shares owned after the transactions: not specified in the provided extract.

Context

Because the exercise and sale occurred on the same day, this looks like a cashless conversion and immediate sale rather than a long-term buy-and-hold purchase. Sales by officers are common and can be for routine liquidity or tax/compensation reasons; the filing itself does not state a motive.