# EDGAR Filing Document

**Accession Number:** 0001347242
**File Stem:** 0001753926-23-000327
**Filing Date:** 2023-3
**Character Count:** 7689
**Document Hash:** 56c0cfbfc154015e68649bc7d17f01b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001753926-23-000327.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001753926-23-000327

**CONFORMED SUBMISSION TYPE**: SC 13G

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LIPELLA PHARMACEUTICALS INC
- **CENTRAL INDEX KEY:** 0001347242
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93847
- **FILM NUMBER:** 23774701

**BUSINESS ADDRESS:**
- **STREET 1:** 400 N LEXINGTON ST
- **STREET 2:** STE LL103
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15208
- **BUSINESS PHONE:** 412-901-0315

**MAIL ADDRESS:**
- **STREET 1:** 400 N LEXINGTON ST
- **STREET 2:** STE LL103
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15208
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gruber Michele
- **CENTRAL INDEX KEY:** 0001971374

**FILING VALUES:**
- **FORM TYPE:** SC 13G

**MAIL ADDRESS:**
- **STREET 1:** C/O LIPELLA PHARMACEUTICALS INC.
- **STREET 2:** 7800 SUSQUEHANNA ST., SUITE 505
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15208

**SECURITIES AND EXCHANGE COMMISSION**<br> **Washington, D.C. 20549**

**SCHEDULE 13G**

**Under the Securities Exchange Act of 1934**<br> **(Amendment No.)\***

Lipella Pharmaceuticals Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

53630L100

(CUSIP Number)

March 19, 2023

(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)<br> ☒ Rule 13d-1(c)<br> ☐ Rule 13d-1(d)

<sup>\*</sup> The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 53630L100 13G Page 2 of 6 Pages

1. NAMES
 OF REPORTING PERSONS<br>
 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)<br>
 Michele Gruber

2. CHECK
 THE APPROPRIATE BOX IF A MEMBER OF A GROUP<br>
 (see instructions)<br>
 (a) ☐<br>
 (b) ☐

3. SEC USE
 ONLY<br>

4. CITIZENSHIP
 OR PLACE OF ORGANIZATION<br>
 United States

---

| | | |
|:---|:---|:---|
| NUMBER OF <br> SHARES <br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | 5. | SOLE VOTING POWER<br>353,333 (1) |
| NUMBER OF <br> SHARES <br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | 6. | SHARED VOTING POWER<br>0  |
| NUMBER OF <br> SHARES <br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | 7. | SOLE DISPOSITIVE POWER<br>353,333 (1) |
| NUMBER OF <br> SHARES <br> BENEFICIALLY <br> OWNED BY <br> EACH <br> REPORTING <br> PERSON WITH | 8. | SHARED DISPOSITIVE POWER<br>0  |

---

9. AGGREGATE
 AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON <br>
 353,333 (1)

10. CHECK
 IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES<br>
 (see instructions) ☐

11. PERCENT
 OF CLASS REPRESENTED BY AMOUNT IN ROW (9) <br>
 5.8% (2)

12. TYPE
 OF REPORTING PERSON (see instructions) <br>
 IN

(1) Consists of 353,333 shares of the issuer's common stock, par value $0.0001 per share ("Common Stock"), that may be issued upon the exercise of stock options awarded by the issuer to Ms. Gruber in her capacity as an employee of the issuer, which are vested and exercisable, or will be vested and exercisable, for such shares of Common Stock within 60 days of the filing of this Statement on Schedule 13G (this "Schedule 13G").

(2) The percentage set forth in row (11) is calculated based on 5,743,945 shares of Common Stock outstanding as of March 27, 2023, as verified with the issuer. All 353,333 shares of Common Stock that Ms. Gruber has the right to acquire within 60 days of the filing of this Schedule 13G pursuant to the exercise of stock options held by Ms. Gruber are deemed to be outstanding for purposes of calculating her beneficial ownership percentage.

CUSIP No. 53630L100 13G Page 3 of 6 Pages

**Item 1**

(a) Name
of Issuer:

Lipella Pharmaceuticals Inc. (the "Issuer")

(b) Address
of Issuer's Principal Executive Offices:

7800 Susquehanna Street, Suite 505

Pittsburgh, Pennsylvania 15208

**Item 2. Names of Persons Filing:**

(a) Name
of Person Filing:

Michele Gruber (the "Reporting Person")

(b) Address
of Principal Business Office or, if none, Residence:

7800 Susquehanna Street, Suite 505

Pittsburgh, Pennsylvania 15208

(c) Citizenship:

United States of America

(d) Title
of Class of Securities:

Common stock, par value $0.0001 per share, of the Issuer

(e) CUSIP
Number:

53630L100

CUSIP No. 53630L100 13G Page 4 of 6 Pages

**Item 3. If This Statement is Filed Pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing is a:**

Not applicable.

**Item 4. Ownership.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Amount beneficially owned: 353,333

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Percent of class: 5.8%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Number of shares as to which the Reporting Person
 has:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Sole power to vote or to direct the vote: 353,333

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Shared power to vote or to direct the vote :

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Sole power to dispose or direct the disposition
 of: 353,333

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Shared power to dispose
 or direct the disposition: 0

**Item 5. Ownership of Five Percent or Less of a Class.**

Not applicable.

**Item 6. Ownership of More than Five Percent on Behalf of Another Person.**

Not applicable.

CUSIP No. 53630L100 13G Page 5 of 6 Pages

**Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.**

Not applicable.

**Item 8. Identification and Classification of Members of the Group.**

Not applicable.

**Item 9. Notice of Dissolution of Group.**

Not applicable.

**Item 10. Certification.**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

CUSIP No. 53630L100 13G Page 6 of 6 Pages

**SIGNATURE**

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

---

| | |
|:---|:---|
| Date: March 29, 2023 |  |
|  | /s/ Michele Gruber |
|  | Name: Michele Gruber |

---