LTRN Form 4: Director Lee Schalop Receives 5,000 Stock Options

Rhea-AI Filing Summary

Lantern Pharma (LTRN) director Lee T. Schalop was granted a stock option award for 5,000 shares under the companys Amended and Restated 2018 Equity Incentive Plan. The option has an exercise price of $4.46 and was granted with a transaction date of 08/19/2025. The award becomes exercisable in equal monthly increments over a 36-month vesting period commencing 09/19/2025 and expires 08/18/2035. The filing reports 5,000 underlying shares held directly following the grant. The Form 4 was submitted by the reporting person, who is identified as a director of the issuer.

Positive

• 5,000 stock options granted to a director, indicating alignment of director compensation with shareholder interests
• Clear vesting schedule: options vest in equal monthly increments over 36 months commencing 09/19/2025
• Full disclosure of terms: exercise price ($4.46), expiration date (08/18/2035) and direct ownership reported

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine director option grant; modest in size and standard multi-year vesting.

The grant of 5,000 options at a $4.46 exercise price appears to be a standard equity compensation award to align a board members interests with shareholders. The 36-month monthly vesting schedule beginning one month after grant is a typical retention-oriented structure. The option term through 08/18/2035 provides a long exercise window. As reported, the position is held directly and no other transactions or dispositions are included on the form.

Corporate Governance Expert

TL;DR: Grant follows typical governance practice for director incentives with explicit vesting schedule disclosed.

The Form 4 discloses the material terms of the directors option award, including plan reference, exercise price, vesting commencement and expiration date. These disclosures meet Section 16 reporting requirements by showing beneficial ownership change and the nature of the award. No amendments, additional holdings, or indirect beneficial ownership are reported on this filing.

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^*

Schalop Lee Troy

(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)
08/19/2025

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)	$4.46	08/19/2025		A		5,000		(1)	08/18/2035	Common Stock	5,000	$0.00	5,000	D

Explanation of Responses:

1. The Options are granted under the Lantern Pharma Inc. Amended and Restated 2018 Equity Incentive Plan. The Options shall vest and first become exercisable in equal monthly increments over a 36-month period commencing September 19, 2025.

	/s/ Lee T. Schalop	08/20/2025
	** 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 did Lantern Pharma insider Lee T. Schalop acquire?

He was granted 5,000 stock options under the company's 2018 Equity Incentive Plan.

What is the exercise price and expiration of the options granted to Schalop?

The options have an exercise price of $4.46 and expire on 08/18/2035.

When do Schalop's options begin vesting and over what period?

Vesting begins on 09/19/2025 and occurs in equal monthly increments over a 36-month period.

How many shares does Schalop beneficially own following the reported transaction?

The filing reports 5,000 underlying shares beneficially owned directly following the grant.

Under which plan were the options granted?

The options were granted under the Lantern Pharma Inc. Amended and Restated 2018 Equity Incentive Plan.