Quan Snizhana P. 4

What Happened

• Quan Snizhana P., Principal Financial Officer of Lightwave Logic, exercised 20,000 stock options at $4.87 per share (total exercise cost $97,400) and the same day sold 20,000 shares in an open‑market transaction at a weighted average price of $10.36 per share, generating gross proceeds of $207,200. The filing also shows a separate derivative conversion/disposition for 20,000 shares recorded at $0.

Key Details

• Transaction date: 2026-04-10.
• Exercise (code M): 20,000 shares @ $4.87 (acquired) — $97,400 total exercise cost.
• Sale (code S): 20,000 shares @ $10.36 (weighted avg) — $207,200 gross proceeds; sale prices ranged $10.35–$10.385 (see footnote F1).
• Derivative disposition: 20,000 shares @ $0 recorded (listed as a separate M/Disposed line).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnote F2: vesting schedule noted — 8,337 options vested Jan 9, 2024; remaining options vest quarterly in eleven equal installments (8,333 each) starting Apr 9, 2024; 16,666 options remain unvested and subject to forfeiture.
• Filing timeliness: report dated and filed 2026-04-10 (same day), so appears timely.

Context

• This was an exercise of vested options followed by a same‑day sale of the exercised shares — a common pattern (often used to cover exercise costs and tax withholding). The separate $0 derivative disposition likely reflects conversion mechanics recorded on the Form 4. These entries are factual reporting of transactions and do not by themselves indicate the insider’s market view.