Director John Higuchi adds 40,000 Lipocine (LPCN) shares at $2.03

Rhea-AI Filing Summary

Lipocine Inc. director John W. Higuchi increased his stake by purchasing 40,000 shares of common stock in an open-market transaction. He paid $2.03 per share, for a total of about $81,200. After this purchase, he directly holds 203,797 Lipocine shares.

Insider Trade Summary

Net Buyer: 40,000 shares ($81,200)

Net Buy 1 txn

Insider Higuchi John W.

Role Director

Bought 40,000 shs ($81K)

Type	Security	Shares	Price	Value
Purchase	Common stock	40,000	$2.03	$81K

Holdings After Transaction: Common stock — 203,797 shares (Direct)

Footnotes (1)

Key Figures

Shares purchased: 40,000 shares Purchase price: $2.03 per share Transaction value: $81,200 +3 more

6 metrics

Shares purchased 40,000 shares Open-market purchase of Lipocine common stock

Purchase price $2.03 per share Price paid by John W. Higuchi

Transaction value $81,200 40,000 shares at $2.03

Shares owned after transaction 203,797 shares Direct Lipocine holdings post-purchase

Buy transactions count 1 transaction Number of buy transactions in this Form 4

Net buy/sell shares 40,000 shares net-buy Net effect of reported transactions

Key Terms

open-market purchase, Form 4, Common stock, beneficial ownership

4 terms

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Common stock financial

""security_title": "Common stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

beneficial ownership financial

"disclaimers of beneficial ownership"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Form 4 Insider Transactions: What Each Field Means →

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)
04/07/2026

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	04/07/2026	04/07/2026	P		40,000	A	$2.03	203,797	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	04/07/2026
	** 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)

FAQ

What insider transaction did Lipocine (LPCN) report for John W. Higuchi?

Lipocine reported that director John W. Higuchi executed an open-market purchase of 40,000 shares of the company’s common stock. The transaction was recorded on a Form 4 insider filing and reflects a direct increase in his personal share ownership.

At what price did John W. Higuchi buy Lipocine (LPCN) shares?

John W. Higuchi bought 40,000 Lipocine common shares at $2.03 per share. This implies a total purchase value of approximately $81,200, based solely on the price and share count disclosed in the Form 4 insider filing.

How many Lipocine (LPCN) shares does John W. Higuchi own after this trade?

Following the reported open-market purchase, John W. Higuchi directly owns 203,797 shares of Lipocine common stock. This updated holding figure is disclosed in the Form 4 as the total number of shares held after the transaction.

What type of insider transaction is shown in this Lipocine (LPCN) Form 4?

The Form 4 shows an open-market purchase of Lipocine common stock by director John W. Higuchi. The transaction is coded “P,” which the filing describes as a purchase in an open market or private transaction, indicating a buying action rather than a sale.

Is John W. Higuchi’s Lipocine (LPCN) transaction a direct or indirect ownership change?

The Form 4 indicates that John W. Higuchi’s 40,000-share purchase represents a direct ownership position. The filing lists the ownership code as “D,” meaning the shares are held directly rather than through an intermediary entity such as a trust or partnership.