Lipocine (LPCN) CEO adds 25,000 shares in open-market stock buy

Filing Impact

(Neutral)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Lipocine Inc. Chief Executive Officer Mahesh V. Patel purchased 25,000 shares of Lipocine common stock in an open-market transaction at $2.02 per share on April 2, 2026. Following this trade, he directly owns 135,679 shares of Lipocine common stock.

Insights

Lipocine’s CEO made a modest open-market share purchase.

The CEO, Mahesh V. Patel, bought 25,000 Lipocine common shares at $2.02 each in an open-market transaction. This increased his direct holdings to 135,679 shares, indicating a larger personal stake in the company.

The transaction is a straightforward open-market purchase with no derivatives or tax-withholding elements. It appears as a routine insider buy rather than part of a complex trading pattern, based solely on this filing’s data.

Insider Trade Summary

Net Buyer: 25,000 shares ($50,500)

Net Buy 1 txn

Insider Patel Mahesh V.

Role Chief Executive Officer

Bought 25,000 shs ($51K)

Type	Security	Shares	Price	Value
Purchase	Common stock	25,000	$2.02	$51K

Holdings After Transaction: Common stock — 135,679 shares (Direct)

Footnotes (1)

Key Figures

Shares purchased: 25,000 shares Purchase price: $2.02 per share Shares held after trade: 135,679 shares +1 more

4 metrics

Shares purchased 25,000 shares Open-market purchase of Lipocine common stock

Purchase price $2.02 per share Price paid for Lipocine common stock

Shares held after trade 135,679 shares CEO’s direct Lipocine holdings following transaction

Transaction date April 2, 2026 Date of open-market purchase

Key Terms

open-market purchase, Form 4, non-derivative, Common stock, +1 more

5 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.

non-derivative financial

""transaction_type": "non-derivative""

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.

Chief Executive Officer financial

""officer_title": "Chief Executive Officer""

A chief executive officer (CEO) is the top leader of a company, responsible for making major decisions, setting goals, and guiding the organization’s overall direction. Think of the CEO as the captain of a ship, steering it toward success. Investors pay close attention to the CEO because their leadership and strategy can significantly influence the company's performance and future growth.

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 05:05 PM

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^*

Patel Mahesh V.

(Last)

(First)

(Middle)

675 ARAPEEN DRIVE

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
X	Officer (give title below)	Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/02/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common stock	04/02/2026	04/02/2026	P		25,000	A	$2.02	135,679	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

	/s/ Mahesh V. Patel	04/02/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Lipocine (LPCN) CEO Mahesh V. Patel do in this Form 4 filing?

Mahesh V. Patel, Lipocine’s CEO, reported buying 25,000 shares of common stock. The shares were purchased in an open-market transaction at $2.02 per share, increasing his direct ownership stake reported in this filing.

How many Lipocine (LPCN) shares does the CEO hold after this transaction?

After the reported transaction, Mahesh V. Patel directly holds 135,679 shares of Lipocine common stock. This total reflects his position immediately following the open-market purchase disclosed in the Form 4 filing.

At what price did Lipocine’s CEO buy the 25,000 LPCN shares?

The 25,000 Lipocine common shares were bought at $2.02 per share. This price reflects the execution level for the open-market purchase reported in the Form 4 insider trading disclosure.

Was the Lipocine (LPCN) CEO transaction an open-market purchase?

Yes. The Form 4 classifies the trade as an open-market purchase of common stock. This means the CEO bought Lipocine shares directly in the market rather than receiving them as a grant, option exercise, or other non-market transaction.

Does this Lipocine Form 4 involve any stock options or derivatives?

No. The reported transaction involves only non-derivative Lipocine common stock. The derivative summary section is empty, indicating no concurrent option exercises, warrant conversions, or other derivative transactions in this specific Form 4 filing.