Director John W. Higuchi buys 123K Lipocine (LPCN) shares at $2.05

Rhea-AI Filing Summary

Lipocine Inc. director John W. Higuchi reported an open-market purchase of company stock. On April 6, 2026, he bought 123,000 shares of Lipocine common stock at $2.05 per share, increasing his direct ownership to 163,797 shares after the transaction.

Insights

Insider trading analyst

Lipocine director makes sizable open-market share purchase.

Director John W. Higuchi executed an open-market purchase of 123,000 shares of Lipocine Inc. common stock at $2.05 per share on April 6, 2026. The transaction is classified as a non-derivative, open-market trade.

Following this buy, his direct holdings rose to 163,797 shares, indicating a substantial increase in his personal equity exposure. There are no remaining derivative positions disclosed in this filing, so the transaction reflects a straightforward cash purchase rather than an option exercise.

The filing characterizes the move as an open-market purchase, which is generally viewed as a discretionary decision rather than an automatic or compensation-related event. Future company filings may provide additional context on his overall ownership relative to total shares outstanding.

Insider Trade Summary

Net Buyer: 123,000 shares ($252,150)

Net Buy 1 txn

Insider Higuchi John W.

Role Director

Bought 123,000 shs ($252K)

Type	Security	Shares	Price	Value
Purchase	Common stock	123,000	$2.05	$252K

Holdings After Transaction: Common stock — 163,797 shares (Direct)

Footnotes (1)

Key Figures

Shares purchased: 123,000 shares Purchase price: $2.05 per share Direct holdings after transaction: 163,797 shares +1 more

4 metrics

Shares purchased 123,000 shares Open-market purchase on April 6, 2026

Purchase price $2.05 per share Price paid for Lipocine common stock

Direct holdings after transaction 163,797 shares Total Lipocine shares owned directly by Higuchi post-trade

Net buy shares 123,000 shares Net change in non-derivative position from this Form 4

Key Terms

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

4 terms

open-market purchase financial

"transaction_action is described as an 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.

Common stock financial

"security_title is listed as 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.

Form 4 regulatory

"INSIDER FILING DATA (Form 4) indicates the filing type"

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.

direct ownership financial

"ownership_type is reported as direct with code D"

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)
04/06/2026

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	04/06/2026	04/06/2026	P		123,000	A	$2.05	163,797	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	04/06/2026
	** 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 Inc. (LPCN) report for John W. Higuchi?

Lipocine Inc. reported that director John W. Higuchi made an open-market purchase of 123,000 shares of Lipocine common stock. The transaction occurred on April 6, 2026, and was reported as a standard non-derivative acquisition of common stock.

At what price did John W. Higuchi buy Lipocine (LPCN) shares in this Form 4?

John W. Higuchi bought Lipocine common stock at a price of $2.05 per share. This price applies to the 123,000 shares purchased in the open market on April 6, 2026, as disclosed in the Form 4 insider trading report.

How many Lipocine (LPCN) shares does John W. Higuchi own after the reported transaction?

After the reported transaction, John W. Higuchi directly owns 163,797 shares of Lipocine common stock. This total reflects his holdings immediately following the April 6, 2026 open-market purchase of 123,000 additional shares reported in the Form 4 filing.

Was the Lipocine (LPCN) insider transaction by John W. Higuchi a buy or a sell?

The insider transaction reported for John W. Higuchi was a buy, not a sale. It is categorized as an open-market purchase of 123,000 shares of Lipocine common stock at $2.05 per share on April 6, 2026.

Did the Lipocine (LPCN) Form 4 include any derivative securities for John W. Higuchi?

The Form 4 for John W. Higuchi did not report any derivative security transactions. It disclosed only a non-derivative open-market purchase of Lipocine common stock, with no options, warrants, or other derivative positions listed in the derivative summary section.

What type of ownership is reported for John W. Higuchi’s Lipocine (LPCN) shares?

The filing reports that John W. Higuchi’s Lipocine shares are held with direct ownership. The transaction is coded as “D” for direct, indicating the 163,797 shares after the transaction are owned directly rather than through an indirect entity or trust.