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STOCK BASED COMPENSATION

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

NOTE 7 – STOCK BASED COMPENSATION

The Company uses the Black-Scholes option pricing model to calculate the grant-date fair value of an award, with the following assumptions for 2016: no dividend yield, expected volatility, based on the Company’s historical volatility, 65% to 78%, risk-free interest rate 1.05% to 1.80% and expected option life of 5 to 5.6 years.

As of September 30, 2016, there was $153,669 of unrecognized compensation expense related to non-vested market-based share awards that is expected to be recognized through September 2018.

The following tables summarize all stock option and warrant activity of the Company during the nine months ended September 30, 2016:

	Non-Qualified Stock Options and Warrants Outstanding and Exercisable
					Weighted
	Number of			Exercise	Average
	Shares			Price	Exercise Price

Outstanding, December 31, 2015		18,528,367		$0.63 - $1.69	$	0.92

Granted		895,000		$0.60 - $0.86	$	0.66
Expired		(385,000	)	$1.00 - $1.18	$	1.13
Forfeited
Exercised

Outstanding, September 30, 2016		19,038,367		$0.60 - $1.69	$	0.90

Exercisable, September 30, 2016		18,545,242		$0.60 - $1.69	$	0.91

The aggregate intrinsic value of options and warrants outstanding and exercisable as of September 30, 2016 was $26,575. The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and warrants and the closing stock price of $.665 for the Company’s common stock on September 30, 2016. No options or warrants were exercised during the three and nine months periods ending September 30, 2016.

Non-Qualified Stock Options and Warrants Outstanding
	Number Outstanding	Weighted Average	Weighted Average
Range of	Currently Exercisable	Remaining	Exercise Price of Options and
Exercise Prices	at June 30, 2016	Contractual Life	Warrants Currently Exercisable

$0.60 - $1.69	18,545,242	4.38 Years	$0.91

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LIGHTWAVE LOGIC, INC.

NOTES TO FINANCIAL STATEMENTS

SEPTEMBER 30, 2016 AND 2015

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details