North Run fund (NASDAQ: LPTH) sells 120K LightPath shares

Rhea-AI Filing Summary

LIGHTPATH TECHNOLOGIES INC major holder North Run Strategic Opportunities Fund I, LP reported selling a total of 120,454 shares of Class A Common Stock in open-market transactions. The sales occurred on March 17–18, 2026 at weighted average prices around $12.00 per share. After these transactions, the fund holds 2,900,073 shares. According to the disclosure, these shares are directly held by the fund and may be deemed indirectly beneficially owned by its general partner North Run Strategic Opportunities Fund I GP, LLC and by Thomas B. Ellis and Todd B. Hammer as members of that general partner.

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

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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^*

North Run Strategic Opportunities Fund I, LP

(Last) (First) (Middle)

867 BOYLSTON STREET, 5TH FLOOR

#1361

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LIGHTPATH TECHNOLOGIES INC [ LPTH ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

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

	Form filed by One Reporting Person
X	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
Class A Common Stock	03/17/2026		S		104,454	D	$12.01(2)	2,916,073	I	See footnote(1)
Class A Common Stock	03/18/2026		S		16,000	D	$12	2,900,073	I	See footnote(1)

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

1. Name and Address of Reporting Person^*

North Run Strategic Opportunities Fund I, LP

(Last) (First) (Middle)

867 BOYLSTON STREET, 5TH FLOOR

#1361

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

ELLIS THOMAS B

(Last) (First) (Middle)

867 BOYLSTON STREET, 5TH FLOOR

#1361

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

HAMMER TODD B

(Last) (First) (Middle)

867 BOYLSTON STREET, 5TH FLOOR

#1361

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

North Run Strategic Opportunities Fund I GP, LLC

(Last) (First) (Middle)

867 BOYLSTON STREET, 5TH FLOOR

#1361

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The reported securities are directly held by North Run Strategic Opportunities Fund I, LP, and may be deemed to be indirectly beneficially owned by North Run Strategic Opportunities Fund I GP, LLC as the general partner of North Run Strategic Opportunities Fund I, LP. The reported securities may also be deemed to be indirectly beneficially owned by Thomas B. Ellis and Todd B. Hammer as members of North Run Strategic Opportunities Fund I GP, LLC.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.00 to $12.0314 inclusive. 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 range set forth in footnote (2) to this Form 4.

	/s/ North Run Strategic Opportunities Fund I, LP	03/19/2026
	/s/ Thomas B. Ellis	03/19/2026
	/s/ Todd B. Hammer	03/19/2026
	/s/ North Run Strategic Opportunities Fund I GP, LLC, by: /s/ Thomas B. Ellis, Member	03/19/2026
	** 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 insider activity did North Run report for LIGHTPATH TECHNOLOGIES INC (LPTH)?

North Run Strategic Opportunities Fund I, LP reported selling 120,454 LPTH Class A Common shares in open-market transactions. The sales were executed over two days at weighted average prices around $12 per share, reducing but not eliminating the fund’s sizable remaining position.

On what dates did the LPTH insider sales by North Run Strategic Opportunities Fund I, LP occur?

The reported LPTH insider sales occurred on March 17 and March 18, 2026. The fund sold 104,454 shares on March 17 and 16,000 shares on March 18 in open-market trades, according to the transaction details disclosed for LIGHTPATH TECHNOLOGIES INC.

How many LIGHTPATH TECHNOLOGIES INC (LPTH) shares does North Run hold after these transactions?

After the reported sales, North Run Strategic Opportunities Fund I, LP holds 2,900,073 LPTH Class A Common shares. This figure reflects the position following the March 18, 2026 transaction and represents shares directly held by the fund and indirectly by related entities and individuals.

Who may be deemed to beneficially own the LPTH shares held by North Run Strategic Opportunities Fund I, LP?

The LPTH shares are directly held by North Run Strategic Opportunities Fund I, LP and may be deemed indirectly beneficially owned by North Run Strategic Opportunities Fund I GP, LLC, its general partner. Thomas B. Ellis and Todd B. Hammer may also be deemed indirect beneficial owners as members of that general partner.

At what prices were the LPTH shares sold in the reported insider transactions?

The LPTH shares were sold at weighted average prices around $12 per share. One transaction reported a price of $12.00 and another $12.01, with footnotes stating trades occurred in multiple individual executions within a narrow range between $12.00 and $12.0314 per share.