Lipocine Inc. — Director's Dealing 2015

May 18, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lipocine Inc. (LPCN)
CIK: 0001535955
Period of Report: 2015-05-15

Reporting Person: Mattila Jyrki (Chief Business Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-05-15	Stock Option (Right to Buy)	$7.66	A	80000	Acquired	2025-05-14	Common Stock (80000)	Direct

Footnotes

F1: Subject to vesting whereby 1/3 of the shares subject to the award will vest on the one year anniversary date of May 15, 2016, with the remaining 2/3 of the shares vesting monthly on a pro-rata basis over the following two years.