LIGHTPATH TECHNOLOGIES INC — Director's Dealing 2007

Nov 9, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIGHTPATH TECHNOLOGIES INC (LPTH)
CIK: 0000889971
Period of Report: 2007-11-06

Reporting Person: GAYNOR JOSEPH J JR (Interim CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-06	Incentive stock option	$3.05	A	15000	Acquired	2017-11-06	Class A Common (15000)	Direct
2007-11-06	incentive stock option	$3.05	A	15000	Acquired	2017-11-06	Class A Common (15000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-qualified stock option	$3.47	2006-07-24	Class A Common (15000)	0	Direct
Non-qualified stock option	$4.80	2016-10-27	Class A Common (20000)	0	Direct

Footnotes

F1: Vests over 4 years.

F2: These stock options vest over two years.

F3: These stock option vest upon meeting target gross margin and cash flows.