Lightwave Logic, Inc. — Director's Dealing 2023

May 17, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lightwave Logic, Inc. (LWLG)
CIK: 0001325964
Period of Report: 2023-05-15

Reporting Person: Marcelli James S. (Director, President, COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-15	Common Stock	M	100000	$1.00	Acquired	346740	Direct
2023-05-15	Common Stock	S	57000	$4.566	Disposed	289740	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-15	Employee Stock Option (Right to Buy)	$1.00	M	100000	Disposed	2023-05-16	Common Stock (100000)	Direct

Footnotes

F1: Represents the number of shares sold by the Reporting Person in connection with the cashless exercise of the option and to cover tax withholding obligations.

F2: The price reported in Column 4 is a weighted average price. These shares were sold as part of a block trade in multiple transactions at prices ranging from $4.50 to $4.68, inclusive. The reporting person undertakes to provide to the registrant, any security holder of the registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote 2 to this Form 4.

F3: On May 17, 2013, the registrant granted the reporting person an option to purchase up to 100,000 shares of company stock that vest pursuant to the following schedule: The options vest in equal installments of 25,000 options, with the first installment vesting on August 1, 2013, and the remaining installments vesting quarterly commencing on October 1, 2013.