Mahesh V. Patel - Jan 3, 2023 Form 4 Insider Report for Lipocine Inc. (LPCN)

Role
Chief Executive Officer, Director
Signature
/s/ Mahesh V. Patel
Stock symbol
LPCN
Transactions as of
Jan 3, 2023
Transactions value $
$123,000
Form type
4
Date filed
1/4/2023, 11:06 AM
Previous filing
Dec 22, 2022
Next filing
Mar 17, 2023

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 $123K +300K +13.38% $0.41 2.54M Jan 3, 2023 Common Stock 300K $0.41 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 January 3,2024, while the remaining 2/3 of the shares subject to the award will vest monthly on a prorate basis over the following two years.