SEC Form 4 · accession 0001638599-18-001327
Lipocine Inc. · LPCN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mahesh V. Patel
Officer — President and CEO · Director
Period of report
Dec 4, 2018
Accepted (ET)
Dec 6, 2018 · 6:01 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001535955
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted stock unitF1,F2 | $0.00 | Dec 4, 2018 | A | 290,000 | A | Dec 4, 2019 | Dec 4, 2028 | Common Stock | 290,000 | 290,000 | D |
| Stock Option (Right to Buy)F3 | $1.46 | Dec 4, 2018 | A | 150,000 | A | Dec 4, 2019 | Dec 4, 2028 | Common Stock | 150,000 | 150,000 | D |
Explanation of responses
- F1Each restricted stock unit represents the contingent right to receive one share of common stock upon vesting of the unit
- F2Subject 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.
- F3Subject to vesting whereby 1/3 of the shares subject to the award will vest on the one year anniversary of December 4, 2019, while the remaining 2/3 of the shares subject to the award will vest monthly on a prorata basis over the following two years.