LB Pharmaceuticals (LBRX) director receives 12,500 stock options at $27.95 strike

Rhea-AI Filing Summary

LB Pharmaceuticals director Robert A. Lenz received a grant of stock options covering 12,500 shares of common stock. The options carry an exercise price of $27.95 per share and expire on June 2, 2036, functioning as equity-based compensation rather than an open-market trade.

Footnotes explain that 2,500 of these options represent a prorated annual grant for a prior year under the company’s non-employee director compensation policy. All 12,500 underlying shares vest 100% on the earlier of June 3, 2027 or the company’s next annual meeting of stockholders, contingent on Mr. Lenz’s continuous service.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Lenz Robert A.

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	12,500	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 12,500 shares (Direct, null)

Footnotes (1)

1. Includes an option award for 2,500 shares pursuant to the Issuer's non-employee director compensation policy which represents a prorated annual grant for the previous year. 100% of the shares underlying the option vest on the earlier of (i) June 3, 2027 or (ii) the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through such vesting date.

Key Figures

Option grant size: 12,500 options Exercise price: $27.95 per share Underlying shares: 12,500 shares +4 more

7 metrics

Option grant size 12,500 options Stock Option (Right to Buy) granted to director

Exercise price $27.95 per share Conversion or exercise price of option award

Underlying shares 12,500 shares Common Stock underlying the option grant

Post-grant derivative holdings 12,500 options Total derivative securities following the transaction

Prorated prior-year grant 2,500 options Part of award under non-employee director policy

Vesting date trigger June 3, 2027 Earlier of this date or next annual meeting for full vesting

Option expiration June 2, 2036 Expiration date of the stock option award

Key Terms

Stock Option (Right to Buy), non-employee director compensation policy, prorated annual grant, vest, +1 more

5 terms

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy)"

non-employee director compensation policy financial

"pursuant to the Issuer's non-employee director compensation policy"

prorated annual grant financial

"represents a prorated annual grant for the previous year"

vest financial

"100% of the shares underlying the option vest on the earlier of"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

annual meeting of stockholders financial

"the date of the Issuer's next annual meeting of stockholders"

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lenz Robert A.

(Last) (First) (Middle)

C/O LB PHARMACEUTICALS INC

ONE PENNSYLVANIA PLAZA, SUITE 1025

(Street)

NEW YORK NEW YORK 10119

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/03/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$27.95	06/03/2026		A		12,500(1)		(2)	06/02/2036	Common Stock	12,500	$0	12,500	D

Explanation of Responses:

1. Includes an option award for 2,500 shares pursuant to the Issuer's non-employee director compensation policy which represents a prorated annual grant for the previous year.

2. 100% of the shares underlying the option vest on the earlier of (i) June 3, 2027 or (ii) the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through such vesting date.

	/s/ Marc Panoff, Attorney-in-Fact	06/05/2026
	** 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 4 (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.
* Form 4: SEC 1474 (03-26)

FAQ

What did LB Pharmaceuticals (LBRX) director Robert Lenz report on this Form 4?

Director Robert A. Lenz reported receiving stock options for 12,500 shares of LB Pharmaceuticals common stock. The options are a compensation grant, not an open-market purchase, and give him the right to buy shares at a fixed exercise price through their stated expiration date.

How many LB Pharmaceuticals (LBRX) shares are covered by the new stock options?

The new option award covers 12,500 shares of LB Pharmaceuticals common stock. These options give Robert A. Lenz the right to buy that number of shares at the specified exercise price, subject to vesting conditions and the option term running through the stated expiration date.

What is the exercise price and expiration date of Robert Lenz’s LBRX stock options?

The stock options have an exercise price of $27.95 per share and expire on June 2, 2036. This means Lenz can choose to buy up to 12,500 shares at $27.95 anytime after vesting and before the June 2036 expiration, subject to plan terms.

When do Robert Lenz’s LB Pharmaceuticals (LBRX) options vest?

All 12,500 underlying shares vest 100% on the earlier of June 3, 2027, or the date of LB Pharmaceuticals’ next annual meeting of stockholders. Vesting requires Robert Lenz to maintain continuous service with the company through the applicable vesting date under the award terms.

What portion of the LBRX option grant relates to prior-year director compensation?

Footnotes state that 2,500 of the 12,500 options represent a prorated annual grant for the previous year under the non-employee director compensation policy. This indicates part of the award is catch-up compensation reflecting past board service instead of only future service.

Is Robert Lenz’s Form 4 transaction a market buy or sell of LBRX shares?

The Form 4 shows a grant of stock options as director compensation, not a market buy or sell of existing shares. It records an acquisition of derivative securities with a future right to purchase shares at $27.95, subject to vesting and the option’s expiration date.