CONNELLY THOMAS M JR 4

What Happened

• Director Thomas M. Connelly Jr. had 20,161 restricted stock units (RSUs) vest and convert into 20,161 shares of Lightwave Logic common stock on March 31, 2026. The conversion is reported as a derivative exercise/conversion (Form 4 code M); the filing shows a $0.00 price — no cash was paid or received in this conversion.

Key Details

• Transaction date: 2026-03-31 (filed with the SEC on 2026-04-03).
• Reported price/value: $0.00 (conversion/settlement of RSUs into common shares).
• Shares received on that date: 20,161 common shares.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnotes: F1—each RSU equals the right to one common share upon vesting; F2—these RSUs were granted under the 2025 Equity Incentive Plan, with 20,162 RSUs vested on July 15, 2025 and 20,161 RSUs vested on each of Sept 30, 2025, Dec 31, 2025, and Mar 31, 2026.
• No sale or open-market purchase was reported in this filing (the disposal line at $0 reflects conversion/settlement of the derivative, not a cash sale).

Context

• This was a vesting/conversion of previously granted RSUs (an award becoming stock), not an opportunistic market purchase or sale; such conversions are routine compensation events and do not necessarily signal an insider view on the stock.
• For retail investors: purchases by insiders can be more informative than routine vesting events. Here, the filing documents compensation vesting rather than a discretionary buy or sell.