PEGASUS CAPITAL LLC

SEC source: 0001193125-26-006797 · ownership.xml · nonDerivative · entry 1

Slipstream Communications, LLC · CIK 0001616222 · 10% owner

Business Services Holdings, LLC · CIK 0001616237 · 10% owner

Slipstream Funding, LLC · CIK 0001616224 · 10% owner

BCOM GP LLC · CIK 0001616236 · 10% owner

BCOM Holdings, LP · CIK 0001616231 · 10% owner

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

F1 · price: On January 6, 2026, Slipstream Funding, LLC ("Slipstream Funding") and Slipstream Communications, LLC ("Slipstream Communications") sold the shares at a price of $2.52 per share after discounts and commissions.

F2 · ownership.nature: The reported securities were held directly by Slipstream Funding and Slipstream Communications. Slipstream Communications is the sole member of Slipstream Funding. BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Pegasus Investors IV, L.P. ("Pegasus Investors") directly and indirectly holds 100% of the interests in Business Services Holdings. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors.

F3 · ownership.nature: Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital"). Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Each of Slipstream Funding, Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaim beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0000899243-22-038837 · doc4.xml · derivative · entry 1

Slipstream Communications, LLC · CIK 0001616222 · 10% owner

Business Services Holdings, LLC · CIK 0001616237 · 10% owner

Slipstream Funding, LLC · CIK 0001616224 · 10% owner

BCOM GP LLC · CIK 0001616236 · 10% owner

BCOM Holdings, LP · CIK 0001616231 · 10% owner

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 5,194,495

Underlying: Common Stock · 5,194,495 shares

Expires 2027-02-10

F1 · price: The reported securities were received in connection with the Reporting Persons entry into certain debt financing arrangements to fund the Issuer's acquisition of Reflect Systems, Inc. on February 17, 2022 as disclosed in the Issuer's Form 8-K filed on February 18, 2022.

F2 · ownership.nature: The reported securities were acquired and are held directly by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Pegasus Investors IV, L.P. ("Pegasus Investors") directly and indirectly holds 100% of the interests in Business Services Holdings. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors.

F3 · ownership.nature: Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital"). Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaim beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0000899243-17-012192 · doc4.xml · derivative · entry 2

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 10,600

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · derivative.exercise_price: On May 8, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 10,600 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F1 · kind: On May 8, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 10,600 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · kind: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) May 5, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · price: On May 8, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 10,600 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · price: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) May 5, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.expiration_date: On May 8, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 10,600 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.expiration_date: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) May 5, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.underlying_shares: On May 8, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 10,600 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.underlying_shares: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) May 5, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F3 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 72,779 shares of Series J Preferred Stock and 10,600 Warrants directly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital.

F4 · ownership.nature: (continued from footnote 3) Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 8,500 shares of Series J Preferred Stock directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II.

F5 · ownership.nature: (continued from footnote 4) Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F6 · ownership.nature: (continued from footnote 5) Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-012192 · doc4.xml · derivative · entry 1

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 100,936

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · derivative.exercise_price: On May 8, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 10,600 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F1 · kind: On May 8, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 10,600 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · kind: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) May 5, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · price: On May 8, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 10,600 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · price: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) May 5, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.exercise_date: On May 8, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 10,600 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.exercise_date: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) May 5, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.expiration_date: On May 8, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 10,600 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.expiration_date: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) May 5, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.underlying_shares: On May 8, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 10,600 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.underlying_shares: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) May 5, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F3 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 72,779 shares of Series J Preferred Stock and 10,600 Warrants directly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital.

F4 · ownership.nature: (continued from footnote 3) Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 8,500 shares of Series J Preferred Stock directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II.

F5 · ownership.nature: (continued from footnote 4) Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F6 · ownership.nature: (continued from footnote 5) Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-010910 · doc4.xml · derivative · entry 2

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 4,400

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · derivative.exercise_price: On April 24, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 4,400 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.exercise_price: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) April 24, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · kind: On April 24, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 4,400 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · kind: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) April 24, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · price: On April 24, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 4,400 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · price: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) April 24, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.expiration_date: On April 24, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 4,400 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.expiration_date: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) April 24, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.underlying_shares: On April 24, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 4,400 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.underlying_shares: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) April 24, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F3 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 62,179 shares of Series J Preferred Stock and 4,400 Warrants directly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital.

F4 · ownership.nature: (continued from footnote 3) Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 8,500 shares of Series J Preferred Stock directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II.

F5 · ownership.nature: (continued from footnote 4) Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F6 · ownership.nature: (continued from footnote 5) Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-010910 · doc4.xml · derivative · entry 1

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 90,336

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · derivative.exercise_price: On April 24, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 4,400 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.exercise_price: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) April 24, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · kind: On April 24, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 4,400 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · kind: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) April 24, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · price: On April 24, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 4,400 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · price: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) April 24, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.exercise_date: On April 24, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 4,400 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.exercise_date: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) April 24, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.expiration_date: On April 24, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 4,400 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.expiration_date: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) April 24, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.underlying_shares: On April 24, 2017, pursuant to the Series J Preferred Stock Subscription Agreement, dated January 27, 2017, by and between LSGC Holdings III ("Holdings III") and Lighting Science Group Corp. (the "Issuer"), as amended by Amendment No. 1 to the Series J Preferred Stock Subscription Agreement, dated April 24, 2017 (as amended, the "Subscription Agreement"), Holdings III purchased 4,400 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95,

F2 · derivative.underlying_shares: (continued from footnote 1) subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) April 24, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F3 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 62,179 shares of Series J Preferred Stock and 4,400 Warrants directly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital.

F4 · ownership.nature: (continued from footnote 3) Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 8,500 shares of Series J Preferred Stock directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II.

F5 · ownership.nature: (continued from footnote 4) Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F6 · ownership.nature: (continued from footnote 5) Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 15

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 7,000

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F15 · derivative.exercise_price: On February 3, 2017, pursuant to the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between Holdings III and the Issuer, Holdings III purchased 7,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date.

F16 · derivative.exercise_price: (Continued from footnote 15) Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) February 3, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F15 · kind: On February 3, 2017, pursuant to the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between Holdings III and the Issuer, Holdings III purchased 7,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date.

F16 · kind: (Continued from footnote 15) Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) February 3, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F15 · price: On February 3, 2017, pursuant to the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between Holdings III and the Issuer, Holdings III purchased 7,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date.

F16 · price: (Continued from footnote 15) Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) February 3, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F15 · derivative.expiration_date: On February 3, 2017, pursuant to the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between Holdings III and the Issuer, Holdings III purchased 7,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date.

F16 · derivative.expiration_date: (Continued from footnote 15) Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) February 3, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F15 · derivative.underlying_shares: On February 3, 2017, pursuant to the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between Holdings III and the Issuer, Holdings III purchased 7,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date.

F16 · derivative.underlying_shares: (Continued from footnote 15) Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) February 3, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 14

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 85,936

Underlying: Common Stock · 90,458,947 shares

Expires not disclosed

F15 · derivative.exercise_price: On February 3, 2017, pursuant to the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between Holdings III and the Issuer, Holdings III purchased 7,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date.

F16 · derivative.exercise_price: (Continued from footnote 15) Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) February 3, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F15 · kind: On February 3, 2017, pursuant to the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between Holdings III and the Issuer, Holdings III purchased 7,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date.

F16 · kind: (Continued from footnote 15) Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) February 3, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F15 · price: On February 3, 2017, pursuant to the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between Holdings III and the Issuer, Holdings III purchased 7,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date.

F16 · price: (Continued from footnote 15) Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) February 3, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F15 · derivative.exercise_date: On February 3, 2017, pursuant to the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between Holdings III and the Issuer, Holdings III purchased 7,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date.

F16 · derivative.exercise_date: (Continued from footnote 15) Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) February 3, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F15 · derivative.expiration_date: On February 3, 2017, pursuant to the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between Holdings III and the Issuer, Holdings III purchased 7,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date.

F16 · derivative.expiration_date: (Continued from footnote 15) Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) February 3, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F15 · derivative.underlying_shares: On February 3, 2017, pursuant to the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between Holdings III and the Issuer, Holdings III purchased 7,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock. The Series J Preferred Stock has no expiration date.

F16 · derivative.underlying_shares: (Continued from footnote 15) Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) February 3, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 13

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 94,000

Underlying: Common Stock · 25,789,474 shares

Expires not disclosed

F1 · derivative.exercise_price: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.exercise_price: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.exercise_price: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F14 · kind: Pursuant to an Equity Purchase Agreement, dated as of February 3, 2017, by and among the Issuer, Holdings III and Portman Limited, Holdings III purchased 24,500 shares of Series H Preferred Stock from Portman Limited for a purchase price equal to $200.00 per share. In connection with this purchase, Portman Limited also cancelled warrants exercisable for an aggregate of 4,000,000 shares of Common Stock.

F14 · price: Pursuant to an Equity Purchase Agreement, dated as of February 3, 2017, by and among the Issuer, Holdings III and Portman Limited, Holdings III purchased 24,500 shares of Series H Preferred Stock from Portman Limited for a purchase price equal to $200.00 per share. In connection with this purchase, Portman Limited also cancelled warrants exercisable for an aggregate of 4,000,000 shares of Common Stock.

F1 · derivative.exercise_date: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.exercise_date: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.exercise_date: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · derivative.expiration_date: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.expiration_date: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.expiration_date: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · derivative.underlying_shares: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.underlying_shares: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.underlying_shares: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 12

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 69,500

Underlying: Common Stock · 20,526,316 shares

Expires not disclosed

F1 · derivative.exercise_price: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.exercise_price: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.exercise_price: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F13 · kind: Pursuant to an Equity Purchase Agreement, dated as of February 3, 2017, by and among the Issuer, Holdings III, Serengeti Opportunities MM L.P. and Cleantech A, Holdings III purchased 15,862 shares of Series H Preferred Stock from Cleantech Europe A for a purchase price equal to $200.00 per share. In connection with this purchase, Cleantech A also cancelled warrants exercisable for an aggregate of 3,406,041 shares of Common Stock. Pursuant to an Equity Purchase Agreement, dated as of February 3, 2017, by and among the Issuer, Holdings III and Cleantech B, Holdings III purchased 3,638 shares of Series H Preferred Stock from Cleantech Europe B for a purchase price equal to $200.00 per share. In connection with this purchase, Cleantech B also cancelled warrants exercisable for an aggregate of 593,959 shares of Common Stock

F13 · price: Pursuant to an Equity Purchase Agreement, dated as of February 3, 2017, by and among the Issuer, Holdings III, Serengeti Opportunities MM L.P. and Cleantech A, Holdings III purchased 15,862 shares of Series H Preferred Stock from Cleantech Europe A for a purchase price equal to $200.00 per share. In connection with this purchase, Cleantech A also cancelled warrants exercisable for an aggregate of 3,406,041 shares of Common Stock. Pursuant to an Equity Purchase Agreement, dated as of February 3, 2017, by and among the Issuer, Holdings III and Cleantech B, Holdings III purchased 3,638 shares of Series H Preferred Stock from Cleantech Europe B for a purchase price equal to $200.00 per share. In connection with this purchase, Cleantech B also cancelled warrants exercisable for an aggregate of 593,959 shares of Common Stock

F1 · derivative.exercise_date: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.exercise_date: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.exercise_date: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · derivative.expiration_date: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.expiration_date: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.expiration_date: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · derivative.underlying_shares: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.underlying_shares: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.underlying_shares: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 11

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

Underlying: Series H Convertible Preferred Stock · 12,500 shares

Expires 2017-03-27

F12 · derivative.exercise_price: On February 3, 2017, the Equity Put Option (the "Equity Put Option"), dated as of September 11, 2015, by and among Holdings III, Cleantech Europe II (A) LP ("Cleantech A") and Cleantech Europe II (B) LP ("Cleantech B", and together with Cleantech A, the "Cleantech Entities"), was cancelled pursuant to the Equity Purchase Agreements described in footnote 5, below. The Equity Put Option became exercisable in connection with the Option Exercise described in footnotes 1, 2 and 3, above.

F12 · kind: On February 3, 2017, the Equity Put Option (the "Equity Put Option"), dated as of September 11, 2015, by and among Holdings III, Cleantech Europe II (A) LP ("Cleantech A") and Cleantech Europe II (B) LP ("Cleantech B", and together with Cleantech A, the "Cleantech Entities"), was cancelled pursuant to the Equity Purchase Agreements described in footnote 5, below. The Equity Put Option became exercisable in connection with the Option Exercise described in footnotes 1, 2 and 3, above.

F12 · derivative.exercise_date: On February 3, 2017, the Equity Put Option (the "Equity Put Option"), dated as of September 11, 2015, by and among Holdings III, Cleantech Europe II (A) LP ("Cleantech A") and Cleantech Europe II (B) LP ("Cleantech B", and together with Cleantech A, the "Cleantech Entities"), was cancelled pursuant to the Equity Purchase Agreements described in footnote 5, below. The Equity Put Option became exercisable in connection with the Option Exercise described in footnotes 1, 2 and 3, above.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 10

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 50,000

Underlying: Common Stock · 5,263,158 shares

Expires not disclosed

F1 · derivative.exercise_price: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.exercise_price: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.exercise_price: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F10 · kind: In connection with the Option Exercise, in accordance with the terms of the Option Agreement, Holdings III made an offer to VantagePoint Venture Partners 2006 (Q), L.P. ("VantagePoint Venture") and VantagePoint CleanTech Partners II, L.P. ("VantagePoint CleanTech" and, together with its affiliates and VantagePoint Venture and its affiliates, "VantagePoint"), to purchase an aggregate of 5,000 shares of Series H Preferred Stock for a purchase price equal to $200.00 per share, plus the transfer to Holdings III of warrants held by VantagePoint exercisable for an aggregate of 1,809,250 shares of Common Stock (the "VantagePoint Warrants").

F11 · kind: (Continued from footnote 10) Holdings III's offer was accepted, and pursuant to an Equity Purchase Agreement, dated as of February 3, 2017, by and among Holdings III, VantagePoint Venture and VantagePoint CleanTech, Holdings III purchased 3,333 shares of Series H Preferred Stock from VantagePoint Venture and 1,667 shares of Series H Preferred Stock from VantagePoint CleanTech, in each case for a purchase price equal to $200.00 per share, and Holdings III received the VantagePoint Warrants for no additional consideration. The VantagePoint Warrants have the same terms as the Special Warrant.

F1 · derivative.exercise_date: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.exercise_date: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.exercise_date: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · derivative.expiration_date: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.expiration_date: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.expiration_date: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 9

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

Underlying: Series H Convertible Preferred Stock · 5,000 shares

Expires 2017-03-27

F10 · derivative.exercise_price: In connection with the Option Exercise, in accordance with the terms of the Option Agreement, Holdings III made an offer to VantagePoint Venture Partners 2006 (Q), L.P. ("VantagePoint Venture") and VantagePoint CleanTech Partners II, L.P. ("VantagePoint CleanTech" and, together with its affiliates and VantagePoint Venture and its affiliates, "VantagePoint"), to purchase an aggregate of 5,000 shares of Series H Preferred Stock for a purchase price equal to $200.00 per share, plus the transfer to Holdings III of warrants held by VantagePoint exercisable for an aggregate of 1,809,250 shares of Common Stock (the "VantagePoint Warrants").

F11 · derivative.exercise_price: (Continued from footnote 10) Holdings III's offer was accepted, and pursuant to an Equity Purchase Agreement, dated as of February 3, 2017, by and among Holdings III, VantagePoint Venture and VantagePoint CleanTech, Holdings III purchased 3,333 shares of Series H Preferred Stock from VantagePoint Venture and 1,667 shares of Series H Preferred Stock from VantagePoint CleanTech, in each case for a purchase price equal to $200.00 per share, and Holdings III received the VantagePoint Warrants for no additional consideration. The VantagePoint Warrants have the same terms as the Special Warrant.

F10 · kind: In connection with the Option Exercise, in accordance with the terms of the Option Agreement, Holdings III made an offer to VantagePoint Venture Partners 2006 (Q), L.P. ("VantagePoint Venture") and VantagePoint CleanTech Partners II, L.P. ("VantagePoint CleanTech" and, together with its affiliates and VantagePoint Venture and its affiliates, "VantagePoint"), to purchase an aggregate of 5,000 shares of Series H Preferred Stock for a purchase price equal to $200.00 per share, plus the transfer to Holdings III of warrants held by VantagePoint exercisable for an aggregate of 1,809,250 shares of Common Stock (the "VantagePoint Warrants").

F11 · kind: (Continued from footnote 10) Holdings III's offer was accepted, and pursuant to an Equity Purchase Agreement, dated as of February 3, 2017, by and among Holdings III, VantagePoint Venture and VantagePoint CleanTech, Holdings III purchased 3,333 shares of Series H Preferred Stock from VantagePoint Venture and 1,667 shares of Series H Preferred Stock from VantagePoint CleanTech, in each case for a purchase price equal to $200.00 per share, and Holdings III received the VantagePoint Warrants for no additional consideration. The VantagePoint Warrants have the same terms as the Special Warrant.

F10 · derivative.exercise_date: In connection with the Option Exercise, in accordance with the terms of the Option Agreement, Holdings III made an offer to VantagePoint Venture Partners 2006 (Q), L.P. ("VantagePoint Venture") and VantagePoint CleanTech Partners II, L.P. ("VantagePoint CleanTech" and, together with its affiliates and VantagePoint Venture and its affiliates, "VantagePoint"), to purchase an aggregate of 5,000 shares of Series H Preferred Stock for a purchase price equal to $200.00 per share, plus the transfer to Holdings III of warrants held by VantagePoint exercisable for an aggregate of 1,809,250 shares of Common Stock (the "VantagePoint Warrants").

F11 · derivative.exercise_date: (Continued from footnote 10) Holdings III's offer was accepted, and pursuant to an Equity Purchase Agreement, dated as of February 3, 2017, by and among Holdings III, VantagePoint Venture and VantagePoint CleanTech, Holdings III purchased 3,333 shares of Series H Preferred Stock from VantagePoint Venture and 1,667 shares of Series H Preferred Stock from VantagePoint CleanTech, in each case for a purchase price equal to $200.00 per share, and Holdings III received the VantagePoint Warrants for no additional consideration. The VantagePoint Warrants have the same terms as the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 8

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 45,000

Underlying: Common Stock · 47,368,421 shares

Expires not disclosed

F1 · derivative.exercise_price: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.exercise_price: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.exercise_price: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · kind: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · kind: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · kind: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · derivative.exercise_date: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.exercise_date: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.exercise_date: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · derivative.expiration_date: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.expiration_date: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.expiration_date: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 7

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

Underlying: Series H Convertible Preferred Stock · 45,000 shares

Expires 2017-03-27

F1 · derivative.exercise_price: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.exercise_price: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.exercise_price: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · kind: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · kind: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · kind: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 6

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 45,000

Underlying: Series H Convertible Preferred Stock · 45,000 shares

Expires 2017-03-27

F1 · derivative.exercise_price: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.exercise_price: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.exercise_price: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · kind: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · kind: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · kind: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · price: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · price: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · price: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 5

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

Underlying: Series H Convertible Preferred Stock · 45,000 shares

Expires 2017-03-27

F1 · derivative.exercise_price: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · derivative.exercise_price: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · derivative.exercise_price: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · kind: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · kind: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · kind: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · price: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · price: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · price: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 4

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

Underlying: Common Stock · 554,221 shares

Expires 2017-03-27

F1 · kind: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · kind: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · kind: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 3

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 554,221

Underlying: Common Stock · 554,221 shares

Expires 2017-03-27

F1 · kind: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · kind: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · kind: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · price: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · price: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · price: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · derivative · entry 2

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

Underlying: Common Stock · 554,221 shares

Expires 2017-03-27

F1 · kind: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · kind: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · kind: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F1 · price: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · price: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · price: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-003004 · doc4.xml · nonDerivative · entry 1

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

LSGC Holdings IIIa, LLC · CIK 0001550597 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 163,129,952

F1 · kind: On February 3, 2017, LSGC Holdings III, LLC ("Holdings III") exercised its right to purchase (i) all of the outstanding membership interests of LSGC Holdings IIIa, LLC (formerly "RW LSG Holdings, LLC") ("Holdings IIIa") for an aggregate purchase price equal to $9,000,000, (ii) 554,221 shares of Common Stock of Lighting Science Group Corporation (the "Issuer") for an aggregate amount equal to $90,000, and (iii) a warrant to purchase an aggregate of 12,664,760 shares of Common Stock (the "Special Warrant") from RW LSG Management Holdings, LLC ("RW LSG Management") for no additional consideration, in each case that was previously granted to Holdings III pursuant to the Membership Interest Purchase Option (the "Option Agreement"), dated as of September 11, 2015, by and among Riverwood Capital Partners L.P. ("Riverwood"), Holdings III, Holdings IIIa and RW LSG Management Holdings (the purchase of the membership interests,

F2 · kind: (Continued from footnote 1) Common Stock and the Special Warrant are referred to herein as the "Option Exercise"). The Option Exercise was effected pursuant to a Purchase Option Exercise Agreement (the "Exercise Agreement"), dated as of February 3, 2017, by and among Riverwood, Holdings III, Holdings IIIa and RW LSG Management. The Exercise Agreement amended the Option Agreement by reducing the aggregate purchase price of the membership interests of Holdings IIIa from $15,000,000 to $9,000,000 and by reducing the aggregate purchase price of the 554,221 shares of Common Stock of the Issuer from $150,000 to $90,000. As a result of the amendment effected by the Exercise Agreement, the call options to acquire membership interests of Holdings IIIa and 554,221 shares of Common Stock of the Issuer were both deemed to be cancelled and reissued with lower exercise prices.

F3 · kind: (Continued from footnote 2) As a result of the Option Exercise, Holdings IIIa became a direct, wholly-owned subsidiary of Holdings III. Holdings IIIa currently holds 45,000 shares of the Issuer's Series H Preferred Stock. Each share of Series H Preferred Stock is immediately convertible into a number of shares of the Issuer's common stock equal to the amount obtained by dividing the stated par value per share of $1,000 by $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series H Convertible Preferred Stock. The Series H Preferred Stock has no expiration date. The terms of the Special Warrant provide that it has no value and is not exercisable unless the fully diluted equity value of the Issuer exceeds $500,000,000, subject to the adjustments set forth in the Special Warrant.

F4 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 554,221 shares of Common Stock, 94,000 shares of Series H Preferred Stock, 57,779 shares of Series J Preferred Stock and 7,000 Warrants directly or indirectly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 1,464,950 shares of Common Stock and 8,500 shares of Series J Preferred Stock

F5 · ownership.nature: (Continued from footnote 4) directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,877,314 shares of Common Stock and 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II. Pegasus Partners IV is the sole member of Holdings II. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 133,117,333 shares of Common Stock held directly by LSGC Holdings LLC ("Holdings")

F6 · ownership.nature: (Continued from footnote 5) because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities as the managing member of Holdings. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 20,972,495 shares of Common Stock held directly by LED Holdings, LLC ("LED") because Holdings may be deemed to have voting and dispositive power over such securities due to its membership interest in LED. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV. Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 2,969,697 shares of Common Stock held directly by Pegasus Partners IV because Pegasus Investors IV may be deemed to have voting and dispositive power over such securities as the general partner of Pegasus Partners IV. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus

F7 · ownership.nature: (Continued from footnote 6) Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut may be deemed to indirectly beneficially own a portion of the 1,173,941 shares of Common Stock that represent payment of director fees paid by the Issuer to Pegasus Advisors IV, L.P. ("Pegasus Advisors IV"). Pegasus Advisors IV GP, L.L.C. ("Pegasus Advisors IV GP") is the general partner of Pegasus Advisors IV and Mr. Cogut is the sole owner and managing member of Pegasus Advisors IV GP. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is Pegasus Investors IV except to the extent of their pecuniary

F8 · ownership.nature: (Continued from footnote 7) the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by LED, Holdings and Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F9 · ownership.nature: (Continued from footnote 8) Mr. Cogut, Pegasus Capital and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Pegasus Investors IV except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut disclaims beneficial ownership of the securities directly held by Pegasus Advisors IV except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-002278 · doc4.xml · derivative · entry 2

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,000

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · kind: On January 27, 2017, pursuant to, the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between LSGC Holdings III LLC ("Holdings III") and Lighting Science Group Corporation (the "Issuer"), Holdings III purchased 3,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · kind: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) January 27, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · price: On January 27, 2017, pursuant to, the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between LSGC Holdings III LLC ("Holdings III") and Lighting Science Group Corporation (the "Issuer"), Holdings III purchased 3,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · price: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) January 27, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.expiration_date: On January 27, 2017, pursuant to, the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between LSGC Holdings III LLC ("Holdings III") and Lighting Science Group Corporation (the "Issuer"), Holdings III purchased 3,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.expiration_date: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) January 27, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.underlying_shares: On January 27, 2017, pursuant to, the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between LSGC Holdings III LLC ("Holdings III") and Lighting Science Group Corporation (the "Issuer"), Holdings III purchased 3,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.underlying_shares: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) January 27, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F3 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 50,779 shares of Series J Preferred Stock and 3,000 Warrants directly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital.

F4 · ownership.nature: (Continued from Footnote 3) Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 8,500 shares of Series J Preferred Stock directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II.

F5 · ownership.nature: (Continued from Footnote 4) Pegasus Partners IV is the sole member of Holdings II. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F6 · ownership.nature: (Continued from Footnote 5) Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-17-002278 · doc4.xml · derivative · entry 1

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 78,936

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · derivative.exercise_price: On January 27, 2017, pursuant to, the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between LSGC Holdings III LLC ("Holdings III") and Lighting Science Group Corporation (the "Issuer"), Holdings III purchased 3,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.exercise_price: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) January 27, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · kind: On January 27, 2017, pursuant to, the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between LSGC Holdings III LLC ("Holdings III") and Lighting Science Group Corporation (the "Issuer"), Holdings III purchased 3,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · kind: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) January 27, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · price: On January 27, 2017, pursuant to, the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between LSGC Holdings III LLC ("Holdings III") and Lighting Science Group Corporation (the "Issuer"), Holdings III purchased 3,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · price: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) January 27, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.exercise_date: On January 27, 2017, pursuant to, the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between LSGC Holdings III LLC ("Holdings III") and Lighting Science Group Corporation (the "Issuer"), Holdings III purchased 3,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.exercise_date: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) January 27, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.expiration_date: On January 27, 2017, pursuant to, the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between LSGC Holdings III LLC ("Holdings III") and Lighting Science Group Corporation (the "Issuer"), Holdings III purchased 3,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.expiration_date: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) January 27, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.underlying_shares: On January 27, 2017, pursuant to, the Series J Preferred Stock Subscription dated January 27, 2017 (the "Subscription Agreement") by and between LSGC Holdings III LLC ("Holdings III") and Lighting Science Group Corporation (the "Issuer"), Holdings III purchased 3,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.underlying_shares: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) January 27, 2022, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F3 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 50,779 shares of Series J Preferred Stock and 3,000 Warrants directly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital.

F4 · ownership.nature: (Continued from Footnote 3) Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 8,500 shares of Series J Preferred Stock directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV, L.P. ("Pegasus Partners IV") may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II.

F5 · ownership.nature: (Continued from Footnote 4) Pegasus Partners IV is the sole member of Holdings II. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F6 · ownership.nature: (Continued from Footnote 5) Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0001179110-17-005897 · edgar.xml · derivative · entry 5

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: Not disclosed

Underlying: Common Stock · 1,823,354 shares

Expires 2017-04-15

F5 · derivative.expiration_date: The maturation date is extendable for an additional six months at the election of the noteholder.

F4 · derivative.underlying_shares: Based upon the principal amount plus additional principal (interest due) on the date of acquisition, at the conversion price of $0.255 per share. The note accrues interest at the rate of 14% per annum, 12% to be paid in cash and 2% to be added to the principal amount, which may be converted to common stock.

F1 · ownership.nature: All securities acquired and included in Table II of this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors.

F2 · ownership.nature: Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital"). Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut.Craig Cogut, Pegasus Capital, Pegasus Investors, Pegasus Partners, Pegasus Partners (AIV), Pegasus Investors GP, and PP IV BSH are filing a separate Form 4 to report the transactions reported herein. Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaim beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0001179110-17-005897 · edgar.xml · derivative · entry 4

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: Not disclosed

Underlying: Common Stock · 2,185,990 shares

Expires 2017-04-15

F5 · derivative.expiration_date: The maturation date is extendable for an additional six months at the election of the noteholder.

F4 · derivative.underlying_shares: Based upon the principal amount plus additional principal (interest due) on the date of acquisition, at the conversion price of $0.255 per share. The note accrues interest at the rate of 14% per annum, 12% to be paid in cash and 2% to be added to the principal amount, which may be converted to common stock.

F1 · ownership.nature: All securities acquired and included in Table II of this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors.

F2 · ownership.nature: Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital"). Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut.Craig Cogut, Pegasus Capital, Pegasus Investors, Pegasus Partners, Pegasus Partners (AIV), Pegasus Investors GP, and PP IV BSH are filing a separate Form 4 to report the transactions reported herein. Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaim beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0001179110-17-005897 · edgar.xml · derivative · entry 3

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: Not disclosed

Underlying: Common Stock · 180,231 shares

Expires 2017-04-15

F5 · derivative.expiration_date: The maturation date is extendable for an additional six months at the election of the noteholder.

F4 · derivative.underlying_shares: Based upon the principal amount plus additional principal (interest due) on the date of acquisition, at the conversion price of $0.255 per share. The note accrues interest at the rate of 14% per annum, 12% to be paid in cash and 2% to be added to the principal amount, which may be converted to common stock.

F1 · ownership.nature: All securities acquired and included in Table II of this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors.

F2 · ownership.nature: Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital"). Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut.Craig Cogut, Pegasus Capital, Pegasus Investors, Pegasus Partners, Pegasus Partners (AIV), Pegasus Investors GP, and PP IV BSH are filing a separate Form 4 to report the transactions reported herein. Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaim beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0001179110-17-005897 · edgar.xml · derivative · entry 2

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: Not disclosed

Underlying: Common Stock · 8,063,911 shares

Expires 2017-04-15

F5 · derivative.expiration_date: The maturation date is extendable for an additional six months at the election of the noteholder.

F4 · derivative.underlying_shares: Based upon the principal amount plus additional principal (interest due) on the date of acquisition, at the conversion price of $0.255 per share. The note accrues interest at the rate of 14% per annum, 12% to be paid in cash and 2% to be added to the principal amount, which may be converted to common stock.

F1 · ownership.nature: All securities acquired and included in Table II of this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors.

F2 · ownership.nature: Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital"). Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut.Craig Cogut, Pegasus Capital, Pegasus Investors, Pegasus Partners, Pegasus Partners (AIV), Pegasus Investors GP, and PP IV BSH are filing a separate Form 4 to report the transactions reported herein. Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaim beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0000899243-16-034472 · doc4.xml · derivative · entry 2

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · Director · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · Director · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · Director · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · Director · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 5,000

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · kind: On November 21, 2016, pursuant to Amendment No. 1 to the Preferred Stock Subscription and Support Agreement dated July 19, 2016 (the "Amended Subscription Agreement") by and among LSGC Holdings III LLC ("Holdings III"), Lighting Science Group Corporation (the "Issuer") and Pegasus Partners IV, L.P. ("Pegasus Partners IV"), Holdings III purchased 5,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into approximately 1,053 shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · kind: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) November 21, 2021, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Amended Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · price: On November 21, 2016, pursuant to Amendment No. 1 to the Preferred Stock Subscription and Support Agreement dated July 19, 2016 (the "Amended Subscription Agreement") by and among LSGC Holdings III LLC ("Holdings III"), Lighting Science Group Corporation (the "Issuer") and Pegasus Partners IV, L.P. ("Pegasus Partners IV"), Holdings III purchased 5,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into approximately 1,053 shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · price: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) November 21, 2021, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Amended Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.expiration_date: On November 21, 2016, pursuant to Amendment No. 1 to the Preferred Stock Subscription and Support Agreement dated July 19, 2016 (the "Amended Subscription Agreement") by and among LSGC Holdings III LLC ("Holdings III"), Lighting Science Group Corporation (the "Issuer") and Pegasus Partners IV, L.P. ("Pegasus Partners IV"), Holdings III purchased 5,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into approximately 1,053 shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.expiration_date: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) November 21, 2021, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Amended Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.underlying_shares: On November 21, 2016, pursuant to Amendment No. 1 to the Preferred Stock Subscription and Support Agreement dated July 19, 2016 (the "Amended Subscription Agreement") by and among LSGC Holdings III LLC ("Holdings III"), Lighting Science Group Corporation (the "Issuer") and Pegasus Partners IV, L.P. ("Pegasus Partners IV"), Holdings III purchased 5,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into approximately 1,053 shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.underlying_shares: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) November 21, 2021, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Amended Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F3 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 47,779 shares of Series J Preferred Stock and 5,000 Warrants directly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital.

F4 · ownership.nature: (Continued from Footnote 3) Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 8,500 shares of Series J Preferred Stock directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II.

F5 · ownership.nature: (Continued from Footnote 4) Pegasus Partners IV is the sole member of Holdings II. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F6 · ownership.nature: (Continued from Footnote 5) Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0000899243-16-034472 · doc4.xml · derivative · entry 1

COGUT CRAIG M · CIK 0001032672 · Director · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · Director · 10% owner

Pegasus Investors V (GP), L.L.C. · CIK 0001527594 · Director · 10% owner

Pegasus Investors V, L.P. · CIK 0001527596 · Director · 10% owner

Pegasus Partners V, L.P. · CIK 0001527595 · Director · 10% owner

LSGC Holdings III LLC · CIK 0001630433 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 75,936

Underlying: Common Stock · Not disclosed shares

Expires not disclosed

F1 · derivative.exercise_price: On November 21, 2016, pursuant to Amendment No. 1 to the Preferred Stock Subscription and Support Agreement dated July 19, 2016 (the "Amended Subscription Agreement") by and among LSGC Holdings III LLC ("Holdings III"), Lighting Science Group Corporation (the "Issuer") and Pegasus Partners IV, L.P. ("Pegasus Partners IV"), Holdings III purchased 5,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into approximately 1,053 shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.exercise_price: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) November 21, 2021, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Amended Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · kind: On November 21, 2016, pursuant to Amendment No. 1 to the Preferred Stock Subscription and Support Agreement dated July 19, 2016 (the "Amended Subscription Agreement") by and among LSGC Holdings III LLC ("Holdings III"), Lighting Science Group Corporation (the "Issuer") and Pegasus Partners IV, L.P. ("Pegasus Partners IV"), Holdings III purchased 5,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into approximately 1,053 shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · kind: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) November 21, 2021, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Amended Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · price: On November 21, 2016, pursuant to Amendment No. 1 to the Preferred Stock Subscription and Support Agreement dated July 19, 2016 (the "Amended Subscription Agreement") by and among LSGC Holdings III LLC ("Holdings III"), Lighting Science Group Corporation (the "Issuer") and Pegasus Partners IV, L.P. ("Pegasus Partners IV"), Holdings III purchased 5,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into approximately 1,053 shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · price: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) November 21, 2021, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Amended Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.exercise_date: On November 21, 2016, pursuant to Amendment No. 1 to the Preferred Stock Subscription and Support Agreement dated July 19, 2016 (the "Amended Subscription Agreement") by and among LSGC Holdings III LLC ("Holdings III"), Lighting Science Group Corporation (the "Issuer") and Pegasus Partners IV, L.P. ("Pegasus Partners IV"), Holdings III purchased 5,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into approximately 1,053 shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.exercise_date: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) November 21, 2021, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Amended Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.expiration_date: On November 21, 2016, pursuant to Amendment No. 1 to the Preferred Stock Subscription and Support Agreement dated July 19, 2016 (the "Amended Subscription Agreement") by and among LSGC Holdings III LLC ("Holdings III"), Lighting Science Group Corporation (the "Issuer") and Pegasus Partners IV, L.P. ("Pegasus Partners IV"), Holdings III purchased 5,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into approximately 1,053 shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.expiration_date: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) November 21, 2021, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Amended Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F1 · derivative.underlying_shares: On November 21, 2016, pursuant to Amendment No. 1 to the Preferred Stock Subscription and Support Agreement dated July 19, 2016 (the "Amended Subscription Agreement") by and among LSGC Holdings III LLC ("Holdings III"), Lighting Science Group Corporation (the "Issuer") and Pegasus Partners IV, L.P. ("Pegasus Partners IV"), Holdings III purchased 5,000 Series J Units of the Issuer for a purchase price of $1,000 per Series J Unit, with each Series J Unit consisting of one share of Series J Convertible Preferred Stock (the "Series J Preferred Stock") and a warrant to purchase 2,650 shares of the Issuer's common stock (a "Warrant"). Each share of Series J Preferred Stock is immediately convertible into approximately 1,053 shares of the Issuer's common stock upon receipt at a price per share of common stock equal to $0.95, subject to certain anti-dilution adjustments described in the Amended and Restated Certificate of Designation of the Series J Convertible Preferred Stock.

F2 · derivative.underlying_shares: (Continued from Footnote 1) The Series J Preferred Stock has no expiration date. Each of the Warrants has an exercise price of $0.001, subject to adjustment as set forth in the Warrants. The Warrants expire at 11:59 p.m. Eastern Time on the earlier of: (i) November 21, 2021, (ii) the date on which the Issuer consummates a Qualified Public Offering (as defined in the Warrants), or (iii) the date of any Change of Control (as defined in the Warrants). As a result of their relationship with directors of the Issuer, Holdings III and its affiliates have been recognized as directors by deputization of the Issuer, and the Issuer's Board of Directors approved the Amended Subscription Agreement in advance of the acquisitions from the Issuer reported on this Form 4.

F3 · ownership.nature: Following the transactions reported herein, Craig Cogut ("Mr. Cogut") may be deemed to indirectly beneficially own a portion of the 47,779 shares of Series J Preferred Stock and 5,000 Warrants directly held by Holdings III because Pegasus Partners V, L.P. ("Pegasus Partners V") may be deemed to have voting and dispositive power over such securities as the sole member of Holdings III. Pegasus Investors V, L.P. ("Pegasus Investors V") is the general partner of Pegasus Partners V. Pegasus Investors V (GP), L.L.C. ("Pegasus Investors V GP") is the general partner of Pegasus Investors V and Pegasus Capital, LLC ("Pegasus Capital") is the sole member of Pegasus Investors V GP. Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital.

F4 · ownership.nature: (Continued from Footnote 3) Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 8,500 shares of Series J Preferred Stock directly held by PCA LSG Holdings, LLC ("PCA Holdings") because Pegasus Capital may be deemed to have voting and dispositive power over such securities due to its membership interest in PCA Holdings. Pegasus Capital is the managing member of PCA Holdings. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. In addition, Mr. Cogut also may be deemed to indirectly beneficially own a portion of the 19,657 shares of Series J Preferred Stock directly held by LSGC Holdings II LLC ("Holdings II") because Pegasus Partners IV may be deemed to have voting and dispositive power over such securities due to its membership interest in Holdings II.

F5 · ownership.nature: (Continued from Footnote 4) Pegasus Partners IV is the sole member of Holdings II. Pegasus Investors IV, L.P. ("Pegasus Investors IV") is the general partner of Pegasus Partners IV and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors IV GP") is the general partner of Pegasus Investors IV. Pegasus Investors IV GP is wholly owned by Pegasus Capital. As disclosed above, Mr. Cogut may be deemed to directly or indirectly control Pegasus Capital. Mr. Cogut, Pegasus Capital, Pegasus Investors V GP, Pegasus Investors V and Pegasus Partners V each disclaims beneficial ownership of the securities directly held by Holdings III except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

F6 · ownership.nature: (Continued from Footnote 5) Mr. Cogut and Pegasus Capital each disclaims beneficial ownership of the securities directly held by PCA Holdings except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Mr. Cogut, Pegasus Capital, Pegasus Partners IV, Pegasus Investors IV and Pegasus Investors IV GP each disclaims beneficial ownership of the securities directly held by Holdings II except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting persons is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0001179110-17-000987 · edgar.xml · derivative · entry 10

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 5,882,352

Underlying: Common Stock · 5,882,352 shares

Expires 2021-08-17

F13 · price: The warrant was issued for no additional consideration in connection with the offer and sale of a secured term promissory note on the same date.

F1 · ownership.nature: All securities acquired and included in this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors. Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital").

F2 · ownership.nature: Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Slipstream Communications, BCOM Holdings, BCOM GP and Business Services Holdings are filing a separate Form 4 to report the transactions reported herein.Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaims beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0001179110-17-000987 · edgar.xml · derivative · entry 9

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 446,429

Underlying: Common Stock · 446,429 shares

Expires 2021-06-13

F12 · price: The warrant was issued for no additional consideration in connection with the offer and sale of the Secured Convertible Promissory Note on the same date.

F1 · ownership.nature: All securities acquired and included in this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors. Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital").

F2 · ownership.nature: Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Slipstream Communications, BCOM Holdings, BCOM GP and Business Services Holdings are filing a separate Form 4 to report the transactions reported herein.Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaims beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0001179110-17-000987 · edgar.xml · derivative · entry 8

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: Not disclosed

Underlying: Common Stock · 892,857 shares

Expires 2017-04-15

F1 · ownership.nature: All securities acquired and included in this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors. Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital").

F2 · ownership.nature: Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Slipstream Communications, BCOM Holdings, BCOM GP and Business Services Holdings are filing a separate Form 4 to report the transactions reported herein.Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaims beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0001179110-17-000987 · edgar.xml · derivative · entry 7

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 1,750,000

Underlying: Common Stock · 1,750,000 shares

Expires 2020-12-22

F11 · price: The warrant was issued in consideration of Slipstream Communication furnishing collateral security for debt obligations of the issuer.

F1 · ownership.nature: All securities acquired and included in this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors. Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital").

F2 · ownership.nature: Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Slipstream Communications, BCOM Holdings, BCOM GP and Business Services Holdings are filing a separate Form 4 to report the transactions reported herein.Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaims beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0001179110-17-000987 · edgar.xml · derivative · entry 6

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 935,351

Underlying: Common Stock · 935,351 shares

Expires 2020-06-23

F10 · price: The warrant was issued for no additional consideration in connection with the conversion of an earlier promissory note into a longer-term debt obligation of the issuer.

F1 · ownership.nature: All securities acquired and included in this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors. Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital").

F2 · ownership.nature: Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Slipstream Communications, BCOM Holdings, BCOM GP and Business Services Holdings are filing a separate Form 4 to report the transactions reported herein.Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaims beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0001179110-17-000987 · edgar.xml · derivative · entry 5

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 762,295

Underlying: Common Stock · 762,295 shares

Expires 2020-05-20

F9 · price: The warrant was issued for no additional consideration in connection with the offer and sale of the Subordinated Secured Promissory Note on the same date.

F1 · ownership.nature: All securities acquired and included in this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors. Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital").

F2 · ownership.nature: Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Slipstream Communications, BCOM Holdings, BCOM GP and Business Services Holdings are filing a separate Form 4 to report the transactions reported herein.Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaims beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0001179110-17-000987 · edgar.xml · derivative · entry 4

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: Not disclosed

Underlying: Series A 6% Convertible Preferred Stock · 581,250 shares

Expires 2016-05-20

F8 · derivative.exercise_price: The conversion price reflected in the table is the effective conversion price under the promissory note, after giving effect to a 25% conversion premium contained in the promissory note.

F1 · ownership.nature: All securities acquired and included in this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors. Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital").

F2 · ownership.nature: Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Slipstream Communications, BCOM Holdings, BCOM GP and Business Services Holdings are filing a separate Form 4 to report the transactions reported herein.Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaims beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0001179110-17-000987 · edgar.xml · derivative · entry 3

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 218,750

Underlying: Common Stock · 218,750 shares

Expires 2020-02-18

F6 · derivative.exercise_price: As of the date of this report, the exercise price at which the warrant may be exercised for the purchase of Common Stock is $0.36.

F7 · price: The warrant was issued for no additional consideration in connection with the offer and sale of Series A 6% Convertible Preferred Stock on the same date.

F1 · ownership.nature: All securities acquired and included in this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors. Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital").

F2 · ownership.nature: Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Slipstream Communications, BCOM Holdings, BCOM GP and Business Services Holdings are filing a separate Form 4 to report the transactions reported herein.Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaims beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

SEC source: 0001179110-17-000987 · edgar.xml · derivative · entry 2

COGUT CRAIG M · CIK 0001032672 · 10% owner

PEGASUS CAPITAL LLC · CIK 0001259178 · 10% owner

Pegasus Investors IV GP, LLC · CIK 0001441405 · 10% owner

Pegasus Investors IV, L.P. · CIK 0001441404 · 10% owner

PEGASUS PARTNERS IV (AIV), L.P. · CIK 0001497525 · 10% owner

PEGASUS PARTNERS IV LP · CIK 0001431283 · 10% owner

PP IV BSH, LLC · CIK 0001616239 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 675,000

Underlying: Common Stock · 437,500 shares

Expires not disclosed

F4 · derivative.exercise_price: As of the date of this report, the conversion price at which the Series A 6% Convertible Preferred Stock may be converted into Common Stock is $0.255.

F5 · derivative.expiration_date: No expiration date.

F1 · ownership.nature: All securities acquired and included in this report were acquired by Slipstream Communications, LLC ("Slipstream Communications"). BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Each of PP IV BSH, LLC ("PP IV BSH"), Pegasus Partners IV (AIV), L.P. ("Pegasus Partners (AIV)") and Pegasus Investors IV, L.P. ("Pegasus Investors") are the members of Business Services Holdings. Pegasus Partners IV, L.P. ("Pegasus Partners") is the sole member of PP IV BSH. Pegasus Investors is the general partner of each of Pegasus Partners (AIV) and Pegasus Partners, and Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors. Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital").

F2 · ownership.nature: Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Slipstream Communications, BCOM Holdings, BCOM GP and Business Services Holdings are filing a separate Form 4 to report the transactions reported herein.Each of Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, PP IV BSH, Pegasus Partners (AIV), Pegasus Partners, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaims beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.