Lantern Pharma (LTRN) director buys shares and long-dated warrants

Rhea-AI Filing Summary

Lantern Pharma Inc. director Lee Troy Schalop reported buying company securities. He acquired 48,544 shares of common stock at $2.06 per share in an open-market purchase, resulting in direct ownership of 48,544 shares after the transaction.

On the same date, he also acquired common stock purchase warrants covering 48,544 underlying shares, with a conversion or exercise price of $2.27 per share and an expiration date of November 13, 2031. According to the disclosure, these warrants were obtained in an offering of securities that closed on May 14, 2026 and will be exercisable starting on November 14, 2026.

Insider Trade Summary

Net Buyer: 97,088 shares ($100,001)

Net Buy 2 txns

Insider Schalop Lee Troy

Role null

Bought 97,088 shs ($100K)

Type	Security	Shares	Price	Value
Purchase	Common stock purchase warrant (Right to Buy)	48,544	$0.00	--
Purchase	Common stock, $0.001 par value	48,544	$2.06	$100K

Holdings After Transaction: Common stock purchase warrant (Right to Buy) — 48,544 shares (Direct, null); Common stock, $0.001 par value — 48,544 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Common shares purchased: 48,544 shares Purchase price per share: $2.06 per share Warrants acquired: 48,544 warrants +4 more

7 metrics

Common shares purchased 48,544 shares Open-market purchase at $2.06 per share on May 12, 2026

Purchase price per share $2.06 per share Price paid for Lantern Pharma common stock

Warrants acquired 48,544 warrants Common stock purchase warrants linked to issuer’s offering

Warrant exercise price $2.27 per share Conversion or exercise price for underlying common stock

Warrant exercisability start November 14, 2026 Date when warrants become exercisable

Warrant expiration November 13, 2031 Expiration date of the common stock purchase warrants

Net shares bought (stock + warrants) 97,088 shares Total share-equivalent exposure reported as net-buy in Form 4

Key Terms

open-market purchase, Common stock purchase warrant, conversion or exercise price, net-buy, +1 more

5 terms

open-market purchase financial

"transaction_action: "open-market purchase" for both stock and warrant entries"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Common stock purchase warrant financial

"security_title: "Common stock purchase warrant (Right to Buy)""

A common stock purchase warrant is a tradable certificate that gives its holder the right to buy a company’s common shares at a fixed price for a set period. Think of it as a coupon that lets you buy stock later at today’s agreed price; it can amplify gains if the share price rises but also can increase the total number of shares outstanding, which may reduce existing owners’ percentage of the company. Investors watch warrants because they offer leveraged upside and can affect future share value and ownership.

conversion or exercise price financial

"conversion_or_exercise_price: "2.2700" for the warrant transaction"

net-buy financial

"transactionSummary shows netBuySellDirection: "net-buy" with 97,088 shares"

offering of securities financial

"footnote: "acquired in the issuer's offering of securities that closed on May 14, 2026""

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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^*

Schalop Lee Troy

(Last) (First) (Middle)

1920 MCKINNEY AVENUE, 7TH FLOOR

(Street)

DALLAS TEXAS 75201

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Lantern Pharma Inc. [ LTRN ]

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)
05/12/2026

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
Common stock, $0.001 par value	05/12/2026		P		48,544(1)	A	$2.06	48,544	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
Common stock purchase warrant (Right to Buy)	$2.27	05/12/2026		P			48,544(1)	(1)	11/13/2031	Common Stock	48,544	$0.00	48,544	D

Explanation of Responses:

1. The reported securities were acquired in the issuer's offering of securities that closed on May 14, 2026. The warrants are exercisable commencing on November 14, 2026.

	/s/ Lee T. Schalop	05/14/2026
	** 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 Lantern Pharma (LTRN) insider Lee Troy Schalop buy?

Lantern Pharma director Lee Troy Schalop bought 48,544 shares of common stock in an open-market purchase at $2.06 per share. He also acquired warrants for 48,544 underlying shares, expanding both his direct equity and derivative exposure to Lantern Pharma.

At what prices were the Lantern Pharma (LTRN) securities acquired?

The common stock was acquired at $2.06 per share, while the associated common stock purchase warrants have an exercise price of $2.27 per share. These prices define Schalop’s effective entry levels for his direct shares and potential future warrant exercises.

How many Lantern Pharma (LTRN) shares does Schalop hold after this Form 4?

Following the reported transaction, Schalop directly owns 48,544 shares of Lantern Pharma common stock. He also holds warrants covering an additional 48,544 underlying shares, giving him a combination of current equity and potential future share rights in the company.

When can the Lantern Pharma (LTRN) warrants acquired by Schalop be exercised?

The warrants become exercisable on November 14, 2026, according to the disclosure footnote. They remain outstanding until their expiration on November 13, 2031, providing a multi-year window during which Schalop may convert them into common shares at the stated exercise price.

How are Schalop’s warrant purchases related to Lantern Pharma’s offering?

The filing notes that the reported securities were acquired in Lantern Pharma’s offering of securities that closed on May 14, 2026. This means both the common shares and the warrants were purchased in connection with that completed financing transaction, rather than a standalone private deal.