Lightwave Logic Appoints New CFO Fred A. Graffam III

What Happened

• Lightwave Logic, Inc. announced the appointment of Fred A. Graffam III as its Chief Financial Officer, effective July 20, 2026. Mr. Graffam, age 60, has over 20 years of senior financial and operational experience, most recently serving as EVP and CFO of Fidium (Dec 2022–Apr 2026) and previously as CFO at Monitronics/Brinks Home Security and senior finance roles at DigitalGlobe, Level 3 and Comcast. The company also issued a press release about the appointment (Exhibit 99.1).

Key Details

• Start date: July 20, 2026.
• Base salary: $450,000 per year; discretionary annual bonus up to 40% of base pay.
• Sign‑on compensation: $70,000 cash bonus (repayable pro rata if he voluntarily resigns without good reason within 12 months) and restricted stock units with a grant‑date value of $2,400,000 (25% vests at the first anniversary, remaining 75% vest quarterly over the next three years).
• Severance: If terminated without cause or he leaves for good reason, he receives (i) one year’s base salary, (ii) one year target bonus, (iii) COBRA premium reimbursement for 12 months, and (iv) accelerated vesting of any Sign‑On Grant that would have vested within 12 months. If termination occurs within 12 months after a change in control, severance is doubled for salary and target bonus and time‑based equity fully vests, subject to a release.
• Internal change: Snizhana “Ana” Quan will no longer be Principal Financial Officer/Principal Accounting Officer and will serve as Vice President of Finance and Corporate Controller.
• Misc.: Employment Agreement dated July 20, 2026 is filed as Exhibit 10.1; the company disclosed no related‑party arrangements or family relationships involving Mr. Graffam.

Why It Matters

• The appointment establishes Lightwave Logic’s permanent financial leadership and details compensation and protections (salary, equity, severance) that affect executive incentives and potential dilution from the RSU grant. Investors should note the sizeable sign‑on equity award ($2.4M) and standard change‑in‑control protections, as these can influence future share-based dilution and management continuity. The press release and full Employment Agreement are included in the 8‑K for further review.