Lightbridge (LTBR) director receives RSAs and PSAs totaling 15,000 shares

Rhea-AI Filing Summary

Insider equity grants to Lightbridge director Mark R. Tobin increased his holdings by 15,000 shares through restricted stock awards and performance-based restricted stock awards. The Form 4 shows five non-derivative transactions on 08/28/2025 that add 5,000; 5,000; 5,000; 3,000; and 2,000 shares, raising reported beneficial ownership from 49,038 shares to 64,038 shares. The first set is described as time-based restricted stock awards that vest in three equal annual installments contingent on continued service. The remaining awards are performance-based restricted stock awards that vest only if specified performance conditions are met and may be forfeited if unvested by December 31, 2028.

Positive

• Director alignment with shareholders through time-based RSAs that vest over three years, incentivizing continued service
• Performance-based PSAs link part of compensation to achievement of specified targets, aligning pay with company performance

Negative

• Potential future dilution as 15,000 restricted shares could increase outstanding shares if and when they vest
• Performance awards expire if unvested by December 31, 2028, creating uncertainty about their ultimate issuance

Insights

Corporate Governance Expert

TL;DR: Director received mixed time-based and performance-based equity awards, aligning pay with service and performance without immediate cash outflow.

The grant combines standard time-based restricted stock awards (RSAs) that vest over three years with performance-based restricted stock awards (PSAs) that vest upon certification of predetermined targets before December 31, 2028. This structure ties a portion of compensation to continued board service and a portion to measurable performance outcomes. For governance, such mixed awards can reinforce alignment but also delay realization for the director until service and performance conditions are met.

Securities Analyst

TL;DR: Insider holdings increased by 15,000 shares to 64,038; transactions were equity grants, not open-market purchases.

The Form 4 discloses non-derivative awards granted 08/28/2025 totaling 15,000 common shares at $0 price, indicating restricted grants rather than market transactions. The filings show incremental ownership changes from 49,038 to 64,038 shares. From a securities perspective, these are compensatory awards reported under Section 16 and do not reflect sale or purchase activity that would change free-float immediately; vesting and performance conditions determine future potential share issuance.

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
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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^*

Tobin Mark Robert

(Last) (First) (Middle)

C/O LIGHTBRIDGE CORPORATION

11710 PLAZA AMERICA DRIVE, SUITE 2000

(Street)

RESTON VA 20190

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LIGHTBRIDGE Corp [ LTBR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/28/2025

4. 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 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
Common Stock	08/28/2025		A(1)		5,000	A	$0	49,038	D
Common Stock	08/28/2025		A(2)		5,000	A	$0	54,038	D
Common Stock	08/28/2025		A(2)		5,000	A	$0	59,038	D
Common Stock	08/28/2025		A(2)		3,000	A	$0	62,038	D
Common Stock	08/28/2025		A(2)		2,000	A	$0	64,038	D

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

Explanation of Responses:

1. Represents a grant of restricted stock awards (RSAs). These RSAs vest in three equal installments on the first, second and third anniversaries of the date of grant, contingent on the reporting person's continued service on each such vesting date.

2. Represents a grant of performance-based restricted stock awards (PSAs). These PSAs vest subject to achievement of a specified performance condition, and at the time of certification thereof, contingent on the reporting person's continued service on the certification date. PSAs that remain unvested as of December 31, 2028 (the end of the performance period) will automatically be forfeited and cancelled without consideration.

	/s/ Larry Goldman, Attorney-in-Fact for Mark R. Tobin	08/29/2025
	** 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 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.
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FAQ

What transactions did Mark R. Tobin report on the Form 4 for LTBR?

The Form 4 reports five equity grant transactions on 08/28/2025 totaling 15,000 common shares granted as restricted stock awards (RSAs) and performance-based restricted stock awards (PSAs).

How did Mark Tobin's beneficial ownership change after the Form 4 filings?

Reported beneficial ownership increased from 49,038 shares to 64,038 shares following the reported grants.

What are the vesting conditions for the RSAs and PSAs disclosed in the LTBR Form 4?

RSAs vest in three equal installments on the first, second and third anniversaries of the grant date, contingent on continued service. PSAs vest upon achievement of specified performance conditions and contingent continued service; unvested PSAs will be forfeited if not vested by December 31, 2028.

Did the Form 4 report any open-market purchases or sales by the insider for LTBR?

No. The Form 4 shows grants at $0 (restricted awards), not open-market purchases or sales.

When were the Form 4 transactions signed or certified?

The Form 4 was signed by an attorney-in-fact on behalf of Mark R. Tobin on 08/29/2025.