Mahesh V Patel - 03 Jan 2023 Form 4 Insider Report for Lipocine Inc. (LPCN)

Role
Chief Executive Officer, Director
Signature
/s/ Mahesh V. Patel
Issuer symbol
LPCN
Transactions as of
03 Jan 2023
Net transactions value
+$123,000
Form type
4
Filing time
04 Jan 2023, 11:06:47 UTC
Previous filing
22 Dec 2022
Next filing
17 Mar 2023
SEC
View on sec.gov

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 $123,000 +300,000 +13% $0.4100 2,542,395 03 Jan 2023 Common Stock 300,000 $0.4100 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.