X0202 4/A 2005-07-12 2005-07-12 0 0000875296 LAPOLLA INDUSTRIES INC LPA 0001249152 ADAMS MICHAEL THOMAS C/O LAPOLLA INDUSTRIES, INC. 15402 VANTAGE PARKWAY EAST, #322 HOUSTON TX 77032 1 1 0 0 CEO Common Stock, PV $.01 2005-07-12 4 A 0 8000 .67 A 1383376 D Option (Right to Buy) 3 2005-07-12 4 A 0 6500 0 A 2005-07-12 2006-12-31 Common Stock, PV $.01 6500 26000 D Option (Right to Buy) .67 2005-07-12 4 A 0 0 0 A 2011-07-11 Common Stock, PV $.01 0 26000 D Represents the remaining number of time based restricted shares of common stock accelerated under my employment agreement by the Board of Directors. Represents the remaining number of options that vest at the end of each year based on an excess revenue formula accelerated under my employment agreement by the Board of Directors. The Company granted me 400,000 stock options pursuant to an equity incentive plan duly adopted by the Board of Directors on July 12, 2005, subject to effectiveness and certain vesting and other criteria. /s/ Michael T. Adams 2006-04-03