[Form 4] Lantern Pharma Inc. Insider Trading Activity

Rhea-AI Filing Summary

Lantern Pharma (LTRN) director Vijay Chandru amended two outstanding stock options on 09/19/2025, replacing earlier awards with new options priced at $5.04 per share. The original options were granted on 06/15/2020 (9,135 underlying shares, originally $15 exercise price, expiration 06/14/2030) and 11/04/2021 (3,200 underlying shares, originally $10.32 exercise price, expiration 11/03/2031). The amendments cancelled the old options and granted replacement options covering the same share amounts, leaving Mr. Chandru with options for a total of 12,335 underlying shares exercisable under the stated expirations.

Positive

• Replacement options were granted covering the same share amounts, preserving the director's equity position of 12,335 underlying shares
• All material details are disclosed: original grant dates, original exercise prices, replacement exercise price ($5.04), share counts, and expirations

Negative

• Exercise prices were reduced from $15.00 and $10.32 to $5.04 for the two amended options
• Form 4 shows only option amendments and does not provide information on any consideration, shareholder approval, or detailed revised vesting beyond the original vesting descriptions

Insights

Corporate Governance Expert

TL;DR: Director amended exercise prices, replacing two prior options with new $5.04-per-share options covering 12,335 shares.

The Form 4 shows an amendment transaction that cancelled two previously granted options and replaced them with options priced at $5.04. This is a material insider compensation change that is disclosed under Section 16. The filing is limited to option amendments; it does not show cash proceeds, exercises, or sales. For governance review, key facts are the grant dates, original exercise prices ($15.00 and $10.32), underlying share counts (9,135 and 3,200) and expirations (06/14/2030 and 11/03/2031).

Executive Compensation Analyst

TL;DR: Two options were repriced via cancellation and replacement; total optioned shares remain 12,335 at $5.04 each.

The filing documents option amendments that reduce the exercise price to $5.04 and reissue options for identical share counts and expiration dates. The disclosure indicates these are replacement options of earlier grants from 2020 and 2021 and describes original vesting schedules. The Form 4 does not disclose any cash payments, additional consideration, or changes to vesting timing beyond the historical vesting provisions cited.

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^*

Chandru Vijay

(Last) (First) (Middle)

1920 MCKINNEY AVENUE, 7TH FLOOR

(Street)

DALLAS TX 75201

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
09/19/2025

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

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)	$15	06/15/2020		D(1)			9,135	(1)	06/14/2030	Common Stock	9,135	$0.00	0	D
Stock Option (Right to Buy)	$5.04	06/15/2020		A(1)		9,135		(1)	06/14/2030	Common Stock	9,135	$0.00	9,135	D
Stock Option (Right to Buy)	$10.32	11/04/2021		D(2)			3,200	(2)	11/03/2031	Common Stock	3,200	$0.00	0	D
Stock Option (Right to Buy)	$5.04	11/04/2021		A(2)		3,200		(2)	11/03/2031	Common Stock	3,200	$0.00	3,200	D

Explanation of Responses:

1. The two reported transactions involve an amendment of an outstanding option for purposes of reducing the option exercise price, resulting in the cancellation of the "old" option and the grant of a replacement option. The option was originally granted on June 15, 2020 and provides for vesting in equal monthly increments over a 36-month period commencing July 15, 2020.

2. The two reported transactions involve an amendment of an outstanding option for purposes of reducing the option exercise price, resulting in the cancellation of the "old" option and the grant of a replacement option. The option was originally granted on November 4, 2021 and provides for vesting in equal monthly increments over a 36-month period commencing December 4, 2021.

	/s/ Vijay Chandru	09/22/2025
	** 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 Vijay Chandru report on the Form 4 for LTRN?

He reported cancellation of two prior stock options and the grant of replacement options on 09/19/2025 covering 9,135 and 3,200 underlying shares.

What are the exercise prices and totals after the Form 4 amendments for LTRN?

The replacement options have an exercise price of $5.04 and cover a combined total of 12,335 shares.

When were the original options granted that were amended?

Original grant dates were 06/15/2020 (9,135 shares) and 11/04/2021 (3,200 shares) as disclosed in the filing.

What are the expiration dates for the replacement options in the Form 4?

Expirations are 06/14/2030 for the 2020 grant and 11/03/2031 for the 2021 grant, per the filing.

What is Vijay Chandru's relationship to Lantern Pharma as stated on the Form 4?

He is reported as a Director of Lantern Pharma (LTRN) on the filing.