Lipocine (LPCN) CEO Mahesh Patel receives 52,781 stock options grant

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Lipocine Inc. director and CEO Mahesh V. Patel received a new stock option grant as part of his compensation. He was awarded options to acquire 52,781 shares of Lipocine common stock at an exercise price of $2.49 per share, bringing his total stock option holdings reported in this filing to 227,214 options.

The grant is subject to vesting: one-third of the options will vest on June 29, 2027, and the remaining two-thirds will vest monthly on a prorated basis over the following two years. This structure is designed to tie his equity compensation to continued service and long-term performance.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Patel Mahesh V.

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	52,781	$2.49	$131K

Holdings After Transaction: Stock Option (Right to Buy) — 227,214 shares (Direct, null)

Footnotes (1)

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Key Figures

Stock options granted: 52,781 options Exercise price: $2.49 per share Total options after grant: 227,214 options +2 more

5 metrics

Stock options granted 52,781 options Grant to CEO on June 29, 2026

Exercise price $2.49 per share Stock option strike price

Total options after grant 227,214 options CEO holdings following transaction

Initial vesting date June 29, 2027 One-third of options vest

Option expiration date June 29, 2036 Option term end date

Key Terms

Stock Option (Right to Buy), vesting, exercise price, Common Stock

4 terms

Stock Option (Right to Buy) financial

"security_title: "Stock Option (Right to Buy)""

vesting financial

"Subject to vesting whereby 1/3 of the shares subject to the award will vest"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

exercise price financial

"conversion_or_exercise_price: "2.4900""

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

Common Stock financial

"underlying_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.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/30/2026 - 07:31 PM Accepted by SEC EDGAR 06/30/2026 - 07:31 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)
06/29/2026

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)

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)
Stock Option (Right to Buy)	$2.49	06/29/2026		A		52,781		06/29/2027⁽¹⁾	06/29/2036	Common Stock	52,781	$2.49	227,214	D

Explanation of Responses:

1. Subject to vesting whereby 1/3 of the shares subject to the award will vest on June 29, 2027 while the remaining 2/3 of the shares subject to the award will vest monthly on a prorated basis over the following two years.

	/s/ Mahesh V. Patel	06/30/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Lipocine (LPCN) report for Mahesh V. Patel?

Lipocine reported that CEO and director Mahesh V. Patel received a stock option grant for 52,781 shares of common stock at $2.49 per share. This is a compensation-related award, not an open-market purchase or sale, and increases his option-based exposure to the company.

What are the key terms of Mahesh V. Patel’s new Lipocine (LPCN) stock options?

The grant covers 52,781 stock options with an exercise price of $2.49 per share. The options relate to Lipocine common stock and follow a multi-year vesting schedule, aligning the CEO’s potential equity gains with longer-term company performance and continued employment.

How do the new options affect Mahesh V. Patel’s total Lipocine (LPCN) option holdings?

After receiving the 52,781 new stock options, Mahesh V. Patel holds a total of 227,214 stock options according to the filing. This figure reflects his direct derivative holdings reported and shows the scale of his equity-based incentive position at Lipocine.

How do Mahesh V. Patel’s Lipocine (LPCN) options vest over time?

The options vest in stages. One-third of the 52,781 options will vest on June 29, 2027. The remaining two-thirds will then vest monthly on a prorated basis over the following two years, creating a gradual, service-based vesting profile for the CEO.

Was Mahesh V. Patel’s Lipocine (LPCN) option grant an open-market transaction?

No. The filing classifies the transaction under code A, indicating a grant or award. This means the 52,781 options were granted as compensation, not bought or sold in the open market, and therefore do not represent a discretionary market trade by the CEO.