X0303 4 2010-01-15 0000887497 HI TECH PHARMACAL CO INC HITK 0001142334 SELTZER REUBEN C/O HI-TECH PHARMACAL CO., INC. 369 BAYVIEW AVENUE AMITYVILLE NY 11701 1 0 0 0 Common Stock 2010-01-15 4 M 0 26250 1.78 A 519785 D Common Stock 2010-01-15 4 S 0 26250 25.70 D 493535 D Common Stock 299203 I By Spouse and Issue Stock Option (Right to Buy) 1.78 2010-01-15 4 M 0 26250 0 D 2001-06-01 2010-06-01 Common Stock 26250 0 D The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.55 to $25.77, inclusive. The reporting person undertakes to provide Hi-Tech Pharmacal Co., Inc., any security holder of Hi-Tech Pharmacal Co., Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (1) of this Form 4. Stock Option granted under Hi-Tech Pharmacal Co., Inc.'s Amended and Restated Stock Option Plan, which is a Rule 16b-3 Plan. The option became exercisable in four (4) equal annual installments beginning on the first anniversary of the grant date. Other than the option reflected on this form as exercised by the filer, the filer is also the holder of additional options to acquire 210,000 shares of the Company's stock. The additional options were granted on various dates, with varying exercise prices and exercisable and expiration dates. Reuben Seltzer 2010-01-18