Company: LBRX
Filing Date: 2025-07-23
Form Type: DRS/A
Source: 0000950123-25-006557
Chunk: 363

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-07-23
Form: DRS/A
Chunk 363
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2023 was $0.51. Stock-based compensation related to stock options is recorded in the accompanying statements of operations as follows (in thousands):

|                                        |     | Year ended   
 December 31, |  2024 |     |   | 2023 |
|:---------------------------------------|:----|:-------------|------:|:----|:--|-----:|
| Research and development               |     | $            |   396 |     | $ |   39 |
| General and administrative             |     |              | 2,691 |     |   |   25 |
| Total stock-based compensation expense |     | $            | 3,087 |     | $ |   64 |

As of December 31, 2024, the Company’s Former CEO entered into a Separation Agreement with the Company including continued consulting services (see Note 6 Prepaid Expenses and Accrued Expenses). Pursuant to the original terms of the stock option awards, the outstanding stock options continue to vest as long as services are provided to the Company under the Separation Agreement as a non-employeeconsultant. In accordance with ASC 718, there was a modification of the Former CEO’s options related to a reduction in the level of required service. The consulting services outlined in the Separation Agreement are not substantive. As a result, the Company determined the fair market value of all awards expected to vest over the duration of the Separation Agreement as of the modification date using the Black-Scholes option-pricing model. The total amount of $1.7 million was recognized immediately. As of December 31, 2024, there was $8.0 million unrecognized stock-based compensation expense which is expected to be recognized over a weighted average period of 3.66 years. No stock options were exercised, expired or forfeited during the year ended December 31, 2023. There were no realized tax benefits for the years ended December 31, 2024 and 2023. F-29

LB Pharmaceuticals Inc Notes to Financial Statements Restricted Stock During the year ended December 31, 2023, the Company granted 11,500 shares of restricted stock to employees at a price of $1.50 per share and vest ratably over 36 months. No restricted stock was granted during the year ended December 31, 2024. Restricted stock vests over the period of time for which services are expected to be rendered, which ranged from immediate vesting, up to