X0202 SCHEDULE 13D/A 0001654954-25-001914 0002052913 XXXXXXXX LIVE 4 Class A common stock, $0.01 par value 05/13/2026 false 0000889971 532257805 LIGHTPATH TECHNOLOGIES INC

2603 CHALLENGER TECH CT STE 100 ORLANDO FL 32826-2716

Todd B. Hammer 4073824003 867 Boylston Street 5th Floor #1361 Boston MA 02116 0002052913 N North Run Strategic Opportunities Fund I, LP AF N DE 0.00 10319347.00 0.00 10319347.00 10319347.00 N 14.7 PN *Consists of (i) 2,990,112 shares of Class A Common Stock, par value $0.01 per share (the "Shares") of LightPath Technologies, Inc. (the "Issuer") and (ii) 7,329,235 Shares issuable upon the conversion of 14,171.6 shares of Series G Convertible Preferred Stock ("Series G Preferred"). The reported shares of the Series G Preferred are currently exercisable. The aggregate percentage of Shares reported owned by each person named herein is based upon 62,789,407 Shares outstanding as of May 4, 2026, which is the total number of Shares outstanding as of such date as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026. 0002058804 N North Run Strategic Opportunities Fund I GP, LLC AF N DE 0.00 10319347.00 0.00 10319347.00 10319347.00 N 14.7 OO *Consists of (i) 2,990,112 Shares and (ii) 7,329,235 Shares issuable upon the conversion of 14,171.6 shares of Series G Preferred. The reported shares of Series G Preferred are currently exercisable. The aggregate percentage of Shares reported owned by each person named herein is based upon 62,789,407 Shares outstanding as of May 4, 2026, which is the total number of Shares outstanding as of such date as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026. 0001283774 N ELLIS THOMAS B AF N X1 0.00 10319347.00 0.00 10319347.00 10319347.00 N 14.7 IN *Consists of (i) 2,990,112 shares of Class A Common Stock, par value $0.01 per share (the "Shares") of LightPath Technologies, Inc. (the "Issuer") and (ii) 7,329,235 Shares issuable upon the conversion of 14,171.6 shares of Series G Convertible Preferred Stock ("Series G Preferred"). The reported shares of the Series G Preferred are currently exercisable. The aggregate percentage of Shares reported owned by each person named herein is based upon 62,789,407 Shares outstanding as of May 4, 2026, which is the total number of Shares outstanding as of such date as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026. 0001283775 N HAMMER TODD B AF N X1 0.00 10319347.00 0.00 10319347.00 10319347.00 N 14.7 IN *Consists of (i) 2,990,112 shares of Class A Common Stock, par value $0.01 per share (the "Shares") of LightPath Technologies, Inc. (the "Issuer") and (ii) 7,329,235 Shares issuable upon the conversion of 14,171.6 shares of Series G Convertible Preferred Stock ("Series G Preferred"). The reported shares of the Series G Preferred are currently exercisable. The aggregate percentage of Shares reported owned by each person named herein is based upon 62,789,407 Shares outstanding as of May 4, 2026, which is the total number of Shares outstanding as of such date as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026. Class A common stock, $0.01 par value LIGHTPATH TECHNOLOGIES INC 2603 CHALLENGER TECH CT STE 100 ORLANDO FL 32826-2716 This Amendment No. 4 ("Amendment No. 4") amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission on February 25, 2025, as amended by Amendment No. 1 filed on January 7, 2026, Amendment No. 2 filed on February 24, 2026, and Amendment No. 3 filed on March 4, 2026 (as amended, the "Original Schedule 13D" and the Original Schedule 13D as amended by this Amendment No. 4, the "Schedule 13D"). This Amendment No. 4 amends and supplements Items 3, 4 and 5 as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 4 have the meanings set forth in the Original Schedule 13D. Item 3 is hereby amended and supplemented to add the following at the end thereof: The information in Item 5(c) is incorporated herein by reference. Item 4 is hereby amended and supplemented to add the following at the end thereof: The information in Item 5(c) is incorporated herein by reference. Item 5 is hereby amended and restated in its entirety to read as follows: The aggregate percentage of Shares reported owned by each person named herein is based upon 62,789,407 Shares outstanding as of May 4, 2026, which is the total number of Shares outstanding as of such date as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026. As a result of the Stockholder Approval, the percentages set forth herein for each of the Reporting Persons do not give effect to the Beneficial Ownership Limitation or the Exchange Cap. As of the date hereof, NR-SOF directly beneficially owns 10,319,347 Shares, constituting approximately 14.7% of the Shares outstanding. North Run Opportunities, as the general partner of NR-SOF, may be deemed to beneficially own 10,319,347 Shares, constituting approximately 14.7% of the Shares outstanding. Each of Mr. Hammer and Mr. Ellis, as the sole members of North Run Opportunities, may be deemed to beneficially own 10,319,347 Shares, constituting approximately 14.7% of the Shares outstanding. The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Exchange Act, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own. Each of North Run Opportunities, and Messrs. Hammer and Ellis may be deemed to share the power to vote and dispose of the Shares owned by NR-SOF. Except as otherwise set forth herein, there have been no transactions in securities of the Issuer by the Reporting Persons during the past 60 days. On March 17, 2026, NR-SOF sold 104,454 Shares at a weighted average price of $12.01 per share, or $1,253,989.70 in the aggregate, in open market sales. The Shares were sold at prices ranging from $12.00 to $12.0314, inclusive. On March 18, 2026, NR-SOF sold 16,000 Shares at a price of $12.00 per share, or $192,000.00 in the aggregate, in open market sales. On March 24, 2026, NR-SOF sold 54,557 Shares at a weighted average price of $12.07 per share, or $658,361.56 in the aggregate, in open market sales. The Shares were sold at prices ranging from $12.0203 to $12.1413, inclusive. On March 25, 2026, NR-SOF converted 1,591 shares of Series G Preferred into 740,000 Shares at the conversion price of $2.15 per Share. On March 25, 2026, NR-SOF sold 302,352 Shares at a weighted average price of $12.31 per share, or $3,722,629.70 in the aggregate, in open market sales. The Shares were sold at prices ranging from $12.00 to $12.72074, inclusive. On May 12, 2026, NR-SOF sold 83,052 Shares at a weighted average price of $12.25 per share, or $1,017,066.17 in the aggregate, in open market sales. The Shares were sold at prices ranging from $12.0813 to $12.4449, inclusive. On May 13, 2026, NR-SOF sold 45,000 Shares at a weighted average price of $12.29 per share, or $552,864.10 in the aggregate, in open market sales. The Shares were sold at prices ranging from $12.25 to $12.3452, inclusive. On May 14, 2026, NR-SOF sold 165,000 Shares at a weighted average price of $12.16 per share, or $2,006,880.28 in the aggregate, in open market sales. The Shares were sold at prices ranging from $12.00 to $12.32, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, 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 Item 5(c). No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares. (e) Not applicable. North Run Strategic Opportunities Fund I, LP /s/ Todd B. Hammer 05/14/2026 North Run Strategic Opportunities Fund I GP, LLC /s/ Todd B. Hammer 05/14/2026 ELLIS THOMAS B /s/ Thomas B. Ellis 05/14/2026 HAMMER TODD B /s/ Todd B. Hammer 05/14/2026