Lipocine (LPCN) CEO adds 25,000 shares in stock purchase

Rhea-AI Filing Summary

Lipocine Inc. director and Chief Executive Officer Mahesh V. Patel reported an open-market purchase of company stock. On this date, he bought 25,000 shares of Lipocine common stock at $2.03 per share. Following this transaction, he directly owns 160,679 common shares of Lipocine.

Insider Trade Summary

Net Buyer: 25,000 shares ($50,750)

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	$2.03	$51K

Holdings After Transaction: Common stock — 160,679 shares (Direct)

Footnotes (1)

Key Figures

Shares purchased: 25,000 shares Purchase price: $2.03 per share Shares owned after transaction: 160,679 shares

3 metrics

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

Purchase price $2.03 per share Price paid for each common share bought

Shares owned after transaction 160,679 shares Direct common stock holdings post-transaction

Key Terms

open-market purchase, Common stock, Form 4

3 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.

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.

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.

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^*

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)
04/06/2026

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		25,000	A	$2.03	160,679	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Mahesh V. Patel	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 (LPCN) report on this Form 4?

Lipocine reported that CEO and director Mahesh V. Patel made an open-market purchase of company stock. He bought 25,000 shares of Lipocine common stock at $2.03 per share and increased his direct holdings to 160,679 shares.

How many Lipocine (LPCN) shares did CEO Mahesh V. Patel buy?

Mahesh V. Patel bought 25,000 shares of Lipocine common stock in a single open-market transaction. This trade is reported as a purchase under transaction code P and reflects a direct ownership change in the company’s shares.

At what price did the Lipocine (LPCN) CEO purchase shares?

The Lipocine CEO purchased his shares at a price of $2.03 per share. This price applies to all 25,000 common shares acquired in the reported open-market transaction disclosed in the Form 4 filing.

What is Mahesh V. Patel’s Lipocine (LPCN) share ownership after the trade?

After the reported transaction, Mahesh V. Patel directly owns 160,679 shares of Lipocine common stock. This figure represents his post-transaction holdings as disclosed in the Form 4 and reflects the addition of 25,000 newly purchased shares.

Is the Lipocine (LPCN) CEO’s transaction direct or through an entity?

The transaction is reported as direct ownership by Mahesh V. Patel. The Form 4 lists the ownership code as D for direct, with no separate entity or indirect nature of ownership disclosed for this specific purchase.