Marc Panoff (LBRX) Files Form 3 Showing Shares and Multi-Year Option Grants

Rhea-AI Filing Summary

Marc L. Panoff, Senior Vice President, Finance and director of LB Pharmaceuticals (LBRX), filed an Initial Statement of Beneficial Ownership reporting direct ownership of 10,242 shares of common stock and multiple employee stock options. The filing lists options exercisable between 2028 and 2034 covering 27,609 underlying shares with exercise prices ranging from $41.84 to $69.72. The form is signed and dated 09/10/2025.

Insights

Securities Analyst

TL;DR: Routine Section 16 Form 3 disclosing officer/director ownership and outstanding options; no unusual transactions.

The filing documents direct ownership of 10,242 common shares and a portfolio of employee stock options totaling 27,609 underlying shares with staggered exercisability from 2028 to 2034 and strike prices between $41.84 and $69.72. Vesting schedules are typical: initial one-quarter vesting with remaining shares vesting monthly over 36 months, subject to continued service. This is a standard initial beneficial-ownership disclosure for an officer/director.

Corporate Governance Expert

TL;DR: Standard Form 3 disclosure confirming officer/director equity stake and option grants; governance implications negligible.

The report confirms Marc Panoff's roles as Senior VP, Finance and director and provides transparent disclosure of direct share ownership and employee stock options. Vesting provisions and exercise prices are clearly stated, enabling assessment of potential future share dilution. There are no indications of immediate exercises, sales, or related-party transactions in this filing.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

PANOFF MARC L

(Last) (First) (Middle)

C/O LB PHARMACEUTICALS INC

ONE PENNSYLVANIA PLAZA, SUITE 1025

(Street)

NEW YORK NY 10119

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/10/2025

3. Issuer Name and Ticker or Trading Symbol
LB PHARMACEUTICALS INC [ LBRX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior Vice President, Finance

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	10,242	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	(1)	11/13/2028	Common Stock	3,944	$64.15	D
Employee Stock Option (Right to Buy)	(1)	12/22/2029	Common Stock	896	$69.72	D
Employee Stock Option (Right to Buy)	(1)	08/30/2030	Common Stock	1,255	$69.72	D
Employee Stock Option (Right to Buy)	(2)	08/24/2033	Common Stock	14,343	$41.84	D
Employee Stock Option (Right to Buy)	(3)	06/26/2034	Common Stock	7,171	$41.84	D

Explanation of Responses:

1. Immediately exercisable.

2. One fourth (1/4) of the shares subject to the option award vested on August 25, 2024 and the remaining shares subject to the option vested or shall vest in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continuous service through such vesting date.

3. One fourth (1/4) of the shares subject to the option award vested on June 28, 2025 and the remaining shares subject to the option vested or shall vest in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continuous service through such vesting date.

	/s/ Marc Panoff	09/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Marc L. Panoff disclose on the Form 3 for LBRX?

He disclosed direct ownership of 10,242 common shares and employee stock options covering 27,609 underlying shares with exercisability dates from 11/13/2028 to 06/26/2034.

What is Marc Panoff's role at LB Pharmaceuticals (LBRX)?

The filing lists him as a Director and Senior Vice President, Finance.

When was the Form 3 for LBRX signed?

The form is signed and dated 09/10/2025.

What are the exercise prices and total shares underlying the options reported?

Exercise prices range from $41.84 to $69.72, covering 27,609 underlying common shares across multiple option awards.

Are there any immediate exercises or sales reported in this Form 3?

No; the filing reports ownership and option grants only and does not disclose any exercised or sold securities.