LIGHTPATH TECHNOLOGIES INC — Director's Dealing 2006

Nov 2, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIGHTPATH TECHNOLOGIES INC (LPTH)
CIK: 0000889971
Period of Report: 2006-10-27

Reporting Person: CIPOLLA DOROTHY M (CFO & Secretary)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-10-27	incentive stock option	$4.80	A	20000	Acquired	2016-10-27	Class A common (20000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
incentive stock option	$4.53	2016-02-28	Class A common (15000)	35000	Direct

Footnotes

F1: These stock options vest over four years.

F2: These stock options vest over two years.