Frederick J. Leonberger - Jul 19, 2023 Form 4 Insider Report for Lightwave Logic, Inc. (LWLG)

Role: Director
Signature: /s/ James S. Marcelli, Attorney-in-fact for Frederick J. Leonberger
Stock symbol: LWLG
Transactions as of: Jul 19, 2023
Transactions value $: -$340,680
Form type: 4
Date filed: 7/21/2023, 04:00 PM
Previous filing: Mar 20, 2023
Next filing: Dec 15, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LWLG	Common Stock	Options Exercise	$13.9K	+19K	+12.33%	$0.73^*	173K	Jul 19, 2023	Direct
transaction	LWLG	Common Stock	Options Exercise	$25.2K	+30K	+17.33%	$0.84^*	203K	Jul 19, 2023	Direct
transaction	LWLG	Common Stock	Sale	-$380K	-49K	-24.12%	$7.75	154K	Jul 19, 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LWLG	Employee Stock Option (Right to Buy)	Options Exercise	$0	-19K	-1.86%	$0.00	1.01M	Jul 19, 2023	Common Stock	19K	$0.73	Direct	F2
transaction	LWLG	Employee Stock Option (Right to Buy)	Options Exercise	$0	-30K	-2.99%	$0.00	975K	Jul 19, 2023	Common Stock	30K	$0.84	Direct	F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions. Share prices on this transaction ranged from $7.57 to $7.95. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote to this Form 4.
F2	On 03/28/2017 the Issuer granted the Reporting Person an option to purchase up to 200,000 shares of Issuer stock that vest pursuant to the following schedule: 50,000 options vest on April 1, 2017, and the remaining options vest in three equal annual installments of 50,000 options per year commencing on the 1st day of each one-year anniversary of the initial vesting date.
F3	On 01/14/2019 the Issuer granted the Reporting Person an option to purchase up to 60,000 shares of Issuer stock that vest pursuant to the following schedule: 25% of the options vest immediately, and the remaining options vest in three equal quarterly installments of 25% of the options granted commencing on April 1, 2019.
F4	Includes employee stock options to purchase up to 375,000,000 shares of Issuer common stock and warrants to purchase up to 600,000 shares of Issuer common stock.