X0303 4 2010-12-21 0 0000866970 LIGHTING SCIENCE GROUP CORP LSCG.OB 0001449444 Pegasus Capital Advisors IV, L.P. 99 RIVER ROAD COS COB CT 06807 1 0 0 0 0001449443 Pegasus Capital Advisors IV GP, LLC 99 RIVER ROAD COS COB CT 06807 1 0 0 0 Common Stock 2011-01-03 4 M 0 36363 3.30 A 137754 D Option to purchase 3.30 2010-12-21 4 A 0 36363 A 2010-12-21 2011-01-03 Common Stock 36363 36363 D Option to purchase 3.30 2011-01-03 4 M 0 36363 D 2010-12-21 2011-01-03 Common Stock 36363 0 D Option to purchase 3.30 2011-01-03 4 A 0 12000 A 2021-01-03 Common Stock 12000 24000 D The Board of Directors (the "Board") of Lighting Science Group Corporation (the "Issuer") at a December 21, 2010, Board meeting granted Pegasus Capital Advisors IV, L.P. ("Pegasus Advisors") certain director fees. Pegasus Advisors received an option to receive either $120,000 in cash or to receive an equivalent amount in Issuer common stock at a price of $3.30 per share. This option was immediately exercisable and had an expiration date of January 3, 2011. Pegasus Advisors exercised this option on January 3, 2011, and was granted 36,363 shares of the Issuer's common stock. In addition, on January 3, 2011, Pegasus Advisors was granted an option to purchase 12,000 shares of the Issuer's common stock as part of the director fees. (continued on the next footnote)... (Continued from the last footnote)... Because Richard Weinberg ("Mr. Weinberg"), a partner of an affiliate of Pegasus Advisors and an employee of an affiliate of Pegasus Advisors, serves on the Issuer's Board as a representative of Pegasus Advisors, Pegasus Advisors is entitled to receive all director fees payable by the Issuer in respect of Mr. Weinberg's board position. All shares and options issued as director fees to which this report relates were accordingly issued directly to Pegasus Advisors. Mr. Weinberg disclaims beneficial ownership of all of the Issuer's securities to which this report relates and has no pecuniary interest in such securities. The stock options vest in equal quarterly installments on the first trading day immediately following the end of each fiscal quarter of 2011 and are subject to the terms of the Issuer's Amended and Restated Equity-Based Compensation Plan. PEGASUS CAPITAL ADVISORS IV, L.P. By: Pegasus Capital Advisors IV GP, LLC, its general partner Name: Richard Weinberg Title: Vice President /s/ Richard Weinberg 2011-01-11 Pegasus Capital Advisors IV GP, LLC By: /s/ Richard Weinberg, Vice President 2011-01-11