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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	Chief Financial Officer	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
Common Stock	Acquisiton	2020-12-04	57,500	$0.00	121,312	No	4	M	Direct
Common Stock	Disposition	2020-12-04	17,250	$1.57	104,062	No	4	S	Direct
Common Stock	Acquisiton	2020-12-05	70,754	$0.00	174,816	No	4	M	Direct

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

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Restricted Stock Unit	Disposition	2020-12-04	57,500	$0.00	57,500	$0.00
Common Stock	Restricted Stock Unit	Disposition	2020-12-05	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	2020-12-04	2028-12-04	No	4	M	Direct
70,754	2020-12-05	2029-12-05	No	4	M	Direct

Footnotes

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 $1.54 - $1.60.
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.