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: CIPOLLA DOROTHY M (CFO & Secretary)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-06	incentive stock option	$3.05	A	10000	Acquired	2017-11-06	Class A Common (10000)	Direct
2007-11-06	incentive stock option	$3.05	A	10000	Acquired	2017-11-06	Class A Common (10000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
incentive stock option	$4.80	2016-10-27	Class A common (20000)	0	Direct
incentive stock option	$4.53	2016-02-28	Class A common (15000)	0	Direct

Footnotes

F1: These stock options vest over four years.

F2: These stock options vest over two years.

F3: These stock options vest if target gross margin and cash flows are met.