Morgan R. Brown - Dec 7, 2021 Form 4 Insider Report for Lipocine Inc. (LPCN)

Role
Chief Financial Officer
Signature
/s/ Morgan R. Brown
Stock symbol
LPCN
Transactions as of
Dec 7, 2021
Transactions value $
$197,120
Form type
4
Date filed
12/8/2021, 03:00 PM
Next filing
Feb 3, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LPCN Stock Option (Right to Buy) Award $197K +176K $1.12 176K Dec 7, 2021 Common Stock 176K $1.12 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Subject to vesting whereby 1/3 of the shares subject to the award will vest on the one year anniversary of December 7, 2022, while the remaining 2/3 of the shares subject to the award will vest monthly on a prorate basis over the following two years.