Lipocine director John W. Higuchi buys 12,561 shares

The director's directly held Lipocine position was 216,358 shares after the purchase.

Rhea-AI Filing Summary

Lipocine Inc. (LPCN) director John W. Higuchi purchased 12,561 shares of common stock on September 28, 2026, at $2.16 per share; the transaction is described as a purchase in the open market or a private transaction. His directly held position after the purchase was 216,358 shares. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Buyer: 12,561 shares

Net Buy 1 txn

Insider Higuchi John W.

Role Director

Bought 12,561 shs ($27K)

Type	Security	Shares	Price	Value
Purchase	Common stock	12,561	$2.16	$27K

Holdings After Transaction: Common stock — 216,358 shares (Direct)

Key Figures

Common shares purchased: 12,561 shares Price per share: $2.16 per share Direct holdings after purchase: 216,358 shares

3 metrics

Common shares purchased 12,561 shares September 28, 2026

Price per share $2.16 per share Purchase on September 28, 2026

Direct holdings after purchase 216,358 shares Following the September 28, 2026 purchase

Key Terms

Rule 10b5-1 plan, Non-derivative, Direct ownership

3 terms

Rule 10b5-1 plan financial

"No Rule 10b5-1 plan is reported."

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

Non-derivative financial

"The purchase involved non-derivative common stock."

Direct ownership financial

"His directly held position after the purchase"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many LPCN shares did director John W. Higuchi buy?

John W. Higuchi purchased 12,561 Lipocine common shares on September 28, 2026, at $2.16 per share. The transaction is described as a purchase in the open market or a private transaction, and no Rule 10b5-1 plan is reported. His directly held position afterward was 216,358 shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 09/30/2026 - 08:38 PM Accepted by SEC EDGAR 09/30/2026 - 08:38 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Higuchi John W.

(Last) (First) (Middle)

C/O 675 ARAPEEN DR

SUITE 202

(Street)

SALT LAKE CITY UTAH 84108

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Lipocine Inc. [ LPCN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Common stock	09/28/2026	09/28/2026	P		12,561	A	$2.16	216,358	D

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 Securities Underlying Derivative Security (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: 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

Explanation of Responses:

	/s/ John W. Higuchi	09/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.
* Form 4: SEC 1474 (03-26)