X0202 4 2006-03-31 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 2006-03-31 5 G 0 E 175000 0 D 1208376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 2000 0 D 1206376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 3000 0 D 1203376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 1000 0 D 1202376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 2000 0 D 1200376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 1000 0 D 1199376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 2000 0 D 1197376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 1000 0 D 1196376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 1000 0 D 1195376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 1000 0 D 1194376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 1000 0 D 1193376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 1000 0 D 1192376 D Common Stock, PV $.01 2006-03-31 5 G 0 E 500 0 D 1191876 D Common Stock, PV $.01 2006-03-31 5 G 0 E 500 0 D 1191376 D Option (Right to Buy) .67 2006-03-31 5 A 0 E 80000 0 A 2011-07-11 Common Stock, PV $.01 80000 106000 D Gift to my Father. Gift to my Uncle and His Spouse. Gift to my Brother. Gift to my Cousin and his Spouse. Gift to my Sister. Gift to my Cousin and Her Spouse. Gift to Cousin. Gift to my Brother and His Spouse. Gift to my Aunt and Her Spouse. Gift to my Aunt. On July 12, 2005, the Company granted me 400,000 options subject to certain vesting and other criteria. On March 31, 2006, the Board of Directors of the Company vested 80,000 of the aforementioned options, which are exercisable in the amounts and on the dates indicated as follows: (a) 5,000 options on or after March 31, 2006; (b) 5,000 options on or after December 31, 2006; (c) 5,000 options on or after December 31, 2007; (d) 5,000 options on or after December 31, 2008; and (e) 60,000 options on or after January 31, 2009. /s/ Michael T. Adams 2006-04-03