Form 4: LightPath Director Ellis Acquires Shares & RSUs

LightPath Technologies Director Thomas B. Ellis reported the acquisition of 6,968 Class A common shares and 8,824 restricted stock units.

Summary

• Thomas B. Ellis, a Director and 10% Owner of LightPath Technologies Inc. (LPTH), reported changes in his beneficial ownership.
• On November 20, 2025, Ellis acquired 6,968 shares of Class A common stock, which resulted from the settlement of previously vested restricted stock units (RSUs) on a one-for-one basis.
• On November 18, 2025, Ellis was granted 8,824 restricted stock units (RSUs), with each unit representing a contingent right to receive one share of Class A common stock.
• These newly granted RSUs are scheduled to vest one year from the grant date, which is November 18, 2025.
• Directors have the option to defer the receipt of shares upon vesting, and any unvested RSUs will vest immediately if the director leaves the board.
• The reported securities are indirectly held by North Run Capital, LP, and may be indirectly beneficially owned by North Run Advisors, LLC (as the general partner) and by Ellis as a member of North Run Advisors, LLC.
• Ellis disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Sentiment

Score: 7

Explanation: The acquisition of common stock and the grant of restricted stock units to a director and 10% owner are generally positive signals, indicating continued alignment of interests with shareholders and potential confidence in the company's future performance.

Positives

• A Director and 10% owner, Thomas B. Ellis, increased his beneficial ownership in the company through the acquisition of 6,968 Class A common shares.
• The grant of 8,824 restricted stock units aligns management's interests with shareholders, as these units vest over time and convert to common stock, indicating confidence in the company's future.

Future Outlook

The 8,824 restricted stock units granted on November 18, 2025, are expected to vest one year from the grant date, converting into Class A common stock. Directors have the option to defer receipt of these shares.

Industry Context

This insider transaction report reflects a director's personal investment activity and does not directly provide broader industry trends or competitive analysis. However, insider buying can be interpreted as a signal of confidence in the company's prospects within its industry.

Stakeholder Impact

• Shareholders may view the insider's increased equity stake and RSU grant as a positive signal, suggesting management's confidence in the company's future performance and alignment of interests.

Next Steps

• Vesting of the 8,824 restricted stock units on or around November 18, 2026, which will convert into Class A common stock.

Key Dates

Keywords

LightPath Technologies, LPTH, Thomas B. Ellis, insider transaction, Form 4, beneficial ownership, restricted stock units, RSU, common stock, director, 10% owner, equity acquisition