Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
LEEBURG LOUIS
   2. Issuer Name and Ticker or Trading Symbol
LIGHTPATH TECHNOLOGIES INC [LPTH] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
2603 CHALLENGER TECH CT, SUITE 100		 3. Date of Earliest Transaction (Month/Day/Year)
12/31/2008
(Street)

ORLANDO, FL 32826		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A Common 12/31/2008   C(6)   4,059 A $ 1.54 0 D  
Class A Common 12/31/2008   A(7)   5,682 A $ 0.77 16,162 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-qualified stock option $ 2.41             11/10/2006 11/10/2015 Class A Common 2,033   0 D  
Non-qualified stock option $ 2.41             11/10/2007 11/10/2015 Class A Common 2,033   0 D  
Non-qualified stock option $ 2.41             11/10/2008 11/10/2015 Class A Common 2,034   0 D  
Restricted stock unit $ 0 (1)             11/10/2006(2) 11/10/2015 Class A Common 3,333   0 D  
Restricted stock unit $ 0 (1)             11/10/2007(2) 11/10/2015 Class A Common 3,333   0 D  
Restricted stock unit $ 0 (1)             11/10/2008(2) 11/10/2015 Class A Common 3,334   0 D  
Restricted stock unit (3) $ 0 (1)             11/20/2004(2) 10/20/2014 Class A Common 6,000   0 D  
Restricted stock unit $ 0 (1)             11/20/2005(2) 10/20/2014 Class A Common 2,850   0 D  
Restricted stock unit $ 0 (1)             11/20/2006(2) 10/20/2014 Class A Common $ 2,850   0 D  
Restricted stock unit $ 0 (1)             10/27/2007(2) 10/27/2016 Class A Common 3,333   0 D  
Restricted stock unit $ 0 (1)             10/27/2008(2) 10/27/2016 Class A Common 3,333   0 D  
Restricted stock unit $ 0 (1)             10/27/2009(2) 10/27/2016 Class A Common 3,334   0 D  
Restricted stock unit $ 0               (4) 11/06/2017 Class A Common 10,000   0 D  
8% Convertible debenture $ 1.4             08/01/2008 08/01/2011 Class A Common 12,179   0 D  
Common stock warrant $ 1.68             08/01/2008 08/01/2013 Class A Comon 5,276   0 D  
Common stock warrant $ 1.89             08/01/2008 08/01/2013 Class A Common 2,841   0 D  
Restricted stock unit $ 0             10/30/2009 10/30/2011(5) Class A Common 15,000   0 D  
Common stock warrant (8) $ 0.87 12/31/2008   C   3,158   12/31/2008 12/31/2013 Class A Common 3,158 $ 0.87 102,416 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LEEBURG LOUIS
2603 CHALLENGER TECH CT
SUITE 100
ORLANDO, FL 32826		   X      

Signatures

 /s/ Louis Leeburg   01/06/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Restricted stock units convert at a 1-10-1 ratio Class A Common
(2) The Reporting person shall be eligible to electively receive one share of Class A Common for each restricted stock unit at this date subject to continued employment
(3) Granted as vested in lieu of grant in poor year
(4) These restricted shares vest over four years.
(5) These restricted shares vest over 3 years.
(6) These shares were issued due to the conversion of25% of holdings of 8% convertible debentures.
(7) These shares were issued for payment of interest on 8% convertible debentures.
(8) These warrants were issued per amendment number 1 to the 8% senior debentures.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.