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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1535955	Lipocine Inc.	LPCN	Pharmaceutical Preparations (2834)	990370688

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1579872	V. Mahesh Patel	675 Arapeen Drive Suite 202 Salt Lake City UT 84010	Chief Executive Officer	Yes	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	145,000	$0.00	1,118,612	No	4	M	Direct
Common Stock	Disposition	2020-12-04	43,500	$1.57	1,075,112	No	4	S	Direct
Common Stock	Acquisiton	2020-12-05	122,978	$0.00	1,198,090	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	145,000	$0.00	145,000	$0.00
Common Stock	Restricted Stock Unit	Disposition	2020-12-05	122,978	$0.00	122,978	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
145,000	2020-12-04	2028-12-04	No	4	M	Direct
122,978	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 $1.53 - $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.