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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1535955	Lipocine Inc.	LPCN	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1266062	R Morgan Brown	675 Arapeen Drive Suite 202 Salt Lake City UT 84010	Evp And Chief Financial Office	No	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2019-12-04	57,500	$0.00	81,062	No	4	M	Direct
Common Stock	Disposition	2019-12-04	17,250	$0.41	63,812	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Restricted Stock Unit	Disposition	2019-12-04	57,500	$0.00	57,500	$0.00
Common Stock	Restricted Stock Unit	Acquisiton	2019-12-05	70,754	$0.00	70,754	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
57,500	2019-12-04	2028-12-04	No	4	M	Direct
70,754	2020-12-05	2029-12-05	No	4	A	Direct

Footnotes

Each restricted stock unit represents the contingent right to receive one share of common stock upon vesting of the unit
Represents shares of Lipocine Inc. common stock ("LPCN Common Stock") acquired upon the vesting of restricted stock units.
The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
Represents the weighted average price of shares sold at a price that ranged from $0.4102 - $0.4106.
Subject to vesting whereby 50% of the shares subject to the award will vest on the one year anniversary of December 4, 2019 and the remaining 50% of the shares subject to the award will vest on the two year anniversary of December 4, 2020.