Marc Panoff - Sep 10, 2025 Form 4 Insider Report for LB PHARMACEUTICALS INC (LBRX)

Role: Senior Vice President, Finance
Signature: /s/ Marc Panoff
Stock symbol: LBRX
Transactions as of: Sep 10, 2025
Transactions value $: $0
Form type: 4
Date filed: 9/29/2025, 08:16 PM
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
PANOFF MARC L	Senior Vice President, Finance	C/O LB PHARMACEUTICALS INC, ONE PENNSYLVANIA PLAZA, SUITE 1025, NEW YORK	/s/ Marc Panoff	2025-09-12	0001304340

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LBRX	Employee Stock Option (Right to Buy)	Disposed to Issuer		-3.94K	-100%		0	Sep 10, 2025	Common Stock	3.94K	$64.15	Direct	F1, F2
transaction	LBRX	Employee Stock Option (Right to Buy)	Award		+3.94K			3.94K	Sep 10, 2025	Common Stock	3.94K	$15.00	Direct	F1, F2
transaction	LBRX	Employee Stock Option (Right to Buy)	Disposed to Issuer		-896	-100%		0	Sep 10, 2025	Common Stock	896	$69.72	Direct	F1, F2
transaction	LBRX	Employee Stock Option (Right to Buy)	Award		+896			896	Sep 10, 2025	Common Stock	896	$15.00	Direct	F1, F2
transaction	LBRX	Employee Stock Option (Right to Buy)	Disposed to Issuer		-1.26K	-100%		0	Sep 10, 2025	Common Stock	1.26K	$69.72	Direct	F1, F2
transaction	LBRX	Employee Stock Option (Right to Buy)	Award		+1.26K			1.26K	Sep 10, 2025	Common Stock	1.26K	$15.00	Direct	F1, F2
transaction	LBRX	Employee Stock Option (Right to Buy)	Disposed to Issuer		-14.3K	-100%		0	Sep 10, 2025	Common Stock	14.3K	$41.84	Direct	F2, F3
transaction	LBRX	Employee Stock Option (Right to Buy)	Award		+14.3K			14.3K	Sep 10, 2025	Common Stock	14.3K	$15.00	Direct	F2, F3
transaction	LBRX	Employee Stock Option (Right to Buy)	Disposed to Issuer		-7.17K	-100%		0	Sep 10, 2025	Common Stock	7.17K	$41.84	Direct	F2, F4
transaction	LBRX	Employee Stock Option (Right to Buy)	Award		+7.17K			7.17K	Sep 10, 2025	Common Stock	7.17K	$15.00	Direct	F2, F4
transaction	LBRX	Employee Stock Option (Right to Buy)	Award	$0	+90.5K		$0.00	90.5K	Sep 10, 2025	Common Stock	90.5K	$15.00	Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Immediately exercisable.
F2	The transactions reported herein reflect a one-time stock option repricing, effective on September 10, 2025, which reduced the per share exercise price of each repriced option to $15, representing the initial public offering price of the Issuer's common stock (the "Option Repricing"). Except as modified by the Option Repricing, all other terms and conditions of the repriced options, including, without limitation, any provisions with respect to vesting, remain in full force and effect.
F3	One fourth (1/4) of the shares subject to the option award vested on August 25, 2024 and the remaining shares subject to the option vested or shall vest in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continuous service through such vesting date.
F4	One fourth (1/4) of the shares subject to the option award vested on June 28, 2025 and the remaining shares subject to the option vested or shall vest in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continuous service through such vesting date.
F5	One fourth (1/4) of the shares subject to the option award shall vest on September 10, 2026 and the remaining shares subject to the option shall vest in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continuous service through such vesting date.