LTBR Form 4: Jesse Funches granted RSAs and PSAs, ownership rises to 66,288 shares

Rhea-AI Filing Summary

Lightbridge Corp. director Jesse L. Funches received multiple restricted stock awards on 08/28/2025. The filing reports five non‑derivative transactions: an initial grant of 5,000 restricted shares and four subsequent grants of 5,000, 5,000, 3,000 and 2,000 restricted shares, all recorded at $0 price.

The restricted stock awards (RSAs) vest in three equal annual installments based on continued service. The performance‑based restricted stock awards (PSAs) vest only if a specified performance condition is met and will be forfeited if unvested by December 31, 2028. Following these grants, Mr. Funches beneficially owns 66,288 common shares. The form was signed by an attorney‑in‑fact on 08/29/2025.

Positive

• Director increased beneficial ownership to 66,288 common shares following the grants
• Long‑term alignment via RSAs that vest in three equal annual installments encourages retention
• Performance‑based PSAs tie reward to achievement of specified performance conditions

Negative

• PSAs include a forfeiture provision if performance targets are unmet by December 31, 2028
• All awards are contingent on continued service or performance, so shares are not immediately vested or transferable

Insights

Financial Analyst

TL;DR: Director received 20,000 new restricted shares, raising beneficial ownership to 66,288; most grants vest over time and include performance conditions.

The disclosed transactions consist of multiple restricted stock and performance‑based restricted stock grants recorded at $0, indicating compensatory awards rather than open‑market purchases. Vesting schedules for RSAs are time‑based in three equal annual installments, which staggers recognition and retention impact. PSAs depend on attainment of a performance metric and include a firm forfeiture cutoff of December 31, 2028, which caps potential dilution if targets are unmet. The filing is routine for executive/director compensation and does not disclose any cash consideration or derivative exercises.

Corporate Governance Expert

TL;DR: Equity grants align pay with service and performance, but vesting contingencies mean these shares are not immediately transferable.

The awards tie long‑term incentives to continued service and to explicit performance certification for PSAs, consistent with best practices linking pay to outcomes. The presence of both RSAs and PSAs shows a mix of retention and performance alignment. The PSA forfeiture clause through 12/31/2028 creates a clear performance period. The filing is signed by an attorney‑in‑fact, which is a standard execution method for Form 4 submissions.

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^*

Funches Jesse L.

(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	51,288	D
Common Stock	08/28/2025		A(2)		5,000	A	$0	56,288	D
Common Stock	08/28/2025		A(2)		5,000	A	$0	61,288	D
Common Stock	08/28/2025		A(2)		3,000	A	$0	64,288	D
Common Stock	08/28/2025		A(2)		2,000	A	$0	66,288	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 Jesse L. Funches	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.
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 transactions did Jesse L. Funches report on Form 4 for LTBR?

He reported grants of restricted stock and performance‑based restricted stock on 08/28/2025: one 5,000‑share RSA and additional RSA/PSA grants of 5,000; 5,000; 3,000; and 2,000 shares.

How many Lightbridge (LTBR) shares does Jesse L. Funches beneficially own after the reported transactions?

66,288 common shares beneficially owned following the reported grants.

What are the vesting conditions for the restricted stock awards in this Form 4?

RSAs vest in three equal installments on the first, second and third anniversaries of the grant date, contingent on continued service.

What is the performance period and forfeiture condition for the PSAs?

PSAs vest only upon certification of a specified performance condition, and any PSAs unvested as of December 31, 2028 will be forfeited and cancelled without consideration.

Were any cash prices disclosed for these awards?

No cash price was paid; each grant is reported at $0 (compensatory equity awards).