Lantern Pharma (LTRN) grants director stock options at $3.49 strike

Rhea-AI Filing Summary

Lantern Pharma Inc. reported that director D. Jeffrey Keyser received two grants of stock options in the company. On January 9, 2026, he was awarded a stock option to buy 25,000 shares of common stock at an exercise price of $3.49 per share and a second stock option to buy 28,844 shares of common stock at the same $3.49 exercise price.

The first option for 25,000 shares will vest in equal monthly installments over 24 months starting February 9, 2026. The second option for 28,844 shares will vest in equal monthly installments over 12 months starting February 9, 2026. Both grants were made under the Lantern Pharma Inc. Amended and Restated 2018 Stock Incentive Plan, and the filing shows these option holdings as directly owned by the reporting person.

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^*

KEYSER D JEFFREY

(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		28,844		(2)	01/08/2036	Common Stock	28,844	$0.00	28,844	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/ D. Jeffrey Keyser	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 transaction did Lantern Pharma (LTRN) disclose on this Form 4?

Lantern Pharma disclosed that director D. Jeffrey Keyser received two grants of stock options, each giving him the right to buy shares of the company’s common stock at a fixed exercise price.

How many stock options did director D. Jeffrey Keyser receive from Lantern Pharma (LTRN)?

He received one stock option for 25,000 shares of common stock and a second stock option for 28,844 shares of common stock.

What is the exercise price of the Lantern Pharma (LTRN) stock options granted to the director?

Both stock option grants have an exercise price of $3.49 per share for Lantern Pharma common stock.

When do the new Lantern Pharma (LTRN) stock options start vesting and over what periods?

Both grants begin vesting on February 9, 2026. The 25,000-share option vests in equal monthly increments over 24 months, and the 28,844-share option vests in equal monthly increments over 12 months.

Under what plan were the Lantern Pharma (LTRN) stock options to the director granted?

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

Is the Lantern Pharma (LTRN) director’s ownership of these stock options direct or indirect?

The Form 4 lists the options as directly owned (D) by the reporting person, D. Jeffrey Keyser.