Lantern Pharma (LTRN) director receives new stock option grants

Rhea-AI Filing Summary

Lantern Pharma director Lee Troy Schalop reported new equity awards on a Form 4. On January 9, 2026, he received two grants of stock options (rights to buy common stock) with an exercise price of $3.49 per share. One grant covers 25,000 options that vest in equal monthly installments over 24 months starting February 9, 2026. The second grant covers 18,460 options that vest in equal monthly installments over 12 months starting the same date. Both awards were reported at a transaction price of $0.00 per option, reflecting that these are option grants rather than open-market purchases or sales.

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

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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)
01/09/2026

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)	$3.49	01/09/2026		A		25,000		(1)	01/08/2036	Common Stock	25,000	$0.00	25,000	D
Stock Option (Right to Buy)	$3.49	01/09/2026		A		18,460		(2)	01/08/2036	Common Stock	18,460	$0.00	18,460	D

Explanation of Responses:

1. The Options are granted under the Lantern Pharma Inc. Amended and Restated 2018 Stock Incentive Plan. The Options shall vest and first become exercisable in equal monthly increments over a 24-month period commencing February 9, 2026.

2. The Options are granted under the Lantern Pharma Inc. Amended and Restated 2018 Stock Incentive Plan. The Options shall vest and first become exercisable in equal monthly increments over a 12-month period commencing February 9, 2026.

	/s/ Lee T. Schalop	01/12/2026
	** 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).
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FAQ

What insider activity did Lantern Pharma (LTRN) report on this Form 4?

The Form 4 reports that director Lee Troy Schalop received two grants of stock options on January 9, 2026, giving him rights to buy Lantern Pharma common stock at a fixed exercise price.

How many Lantern Pharma stock options were granted to Lee Troy Schalop?

He was granted 25,000 stock options in one award and 18,460 stock options in a second award, each covering Lantern Pharma common stock.

What is the exercise price of the Lantern Pharma options granted on January 9, 2026?

Both option grants to director Lee Troy Schalop have an exercise price of $3.49 per share for Lantern Pharma common stock.

How do the new Lantern Pharma option grants to Lee Troy Schalop vest?

The 25,000 options vest in equal monthly increments over 24 months starting February 9, 2026, and the 18,460 options vest in equal monthly increments over 12 months starting the same date.

Under which plan were the Lantern Pharma options to Lee Troy Schalop granted?

Both option awards were granted under the Lantern Pharma Inc. Amended and Restated 2018 Stock Incentive Plan, as stated in the footnotes.

Were these Lantern Pharma options purchased in the market or granted at no cost?

The Form 4 reports a transaction price of $0.00 per derivative security for both awards, indicating they are grants of options rather than open-market purchases.