NNUP Phillip Frost (10% Owner) Receives 21,930-Share Award

What Happened

• Phillip Frost, MD (reported as "FROST PHILLIP MD ET AL"), a greater-than-10% owner, was issued 21,930 shares of NOCOPI TECHNOLOGIES INC/MD/ (NNUP) on 2026-09-11. The shares were received at $0.00 per share (total cash value $0) as consideration for advisory services under a stock purchase agreement.

Key Details

• Transaction date and type: 2026-09-11 — Grant/award/other acquisition (Code A).
• Price: $0.00 per share; total cash paid = $0.
• Shares acquired: 21,930.
• Shares owned after transaction: Not specified in the provided filing.
• Filing date: 2026-09-14. This filing appears to be within the SEC’s typical two-business-day window for Form 4s (transaction on 9/11, filed on 9/14).
• Notable footnotes:
  • Footnote 1: Shares were issued as consideration for advisory services under a Stock Purchase Agreement dated September 11, 2023.
  • Footnote 2: The securities are held by Frost Gamma Investments Trust (the reporting person is trustee). The filing disclaims beneficial ownership except to the extent of any pecuniary interest and describes a multi-entity ownership structure (Frost Gamma Limited Partnership, Frost Gamma, Inc., Frost-Nevada Corporation).

Context

• This was an award/issuance tied to advisory services, not an open-market purchase; such grants are compensation-related and do not necessarily signal the insider is buying stock for personal investment. Because the shares are held by an affiliated trust and the reporting person disclaims beneficial ownership except as noted, this transaction reflects institutional/structured ownership rather than a straightforward executive buy.