SEC Form 4 · accession 0001638599-18-000029
Lipocine Inc. · LPCN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mahesh V. Patel
Officer — CEO, President · Director
Period of report
Dec 29, 2017
Accepted (ET)
Jan 2, 2018 · 6:16 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001535955
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Dec 29, 2017 | M | 15,000 | $0.00 | A | 728,112 | D | |
| Common stockF2,F3 | Dec 29, 2017 | S | 6,000 | $3.4778 | D | 722,112 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF4 | $0.00 | Dec 29, 2017 | M | 15,000 | D | Dec 29, 2017 | Jan 25, 2027 | Common stock | 15,000 | 45,000 | D |
Explanation of responses
- F1Represents shares of Lipocine Inc. common stock ("LPCN Common Stock") acquired upon the vesting of restricted stock units (see footnote 4).
- F2The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
- F3Represents the weighted average price of shares sold at a price that ranged from $3.43-$3.55.
- F4Subject to vesting whereby 1/4 of the shares subject to the award will vest on December 29, 2017 and the remaining 3/4 of the shares subject to the award will vest on the receipt by the Company of FDA approval of LPCN 1021.