X0303 4 2010-03-26 0000887497 HI TECH PHARMACAL CO INC HITK 0001054694 SELTZER DAVID S C/O HI-TECH PHARMACAL CO., INC. 369 BAYVIEW AVENUE AMITYVILLE NY 11701 1 1 1 0 CEO, President, Sec'y, Treas. Common Stock 2010-03-26 4 M 0 112500 1.78 A 1279620 D Common Stock 2010-03-26 4 S 0 15000 21.95 D 1264620 D Common Stock 2010-03-29 4 S 0 35000 22.94 D 1229620 D Common Stock 221402 I By Spouse and Issue Common Stock 43468 I as Trustee of Trust Common Stock 46144 I as Trustee of Trust Stock Option (Right to Buy) 1.78 2010-03-26 4 M 0 112500 0 D 2001-06-01 2010-06-01 Common Stock 112500 0 D The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.68 to 22.45, 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 footnotes (1) and (2) of this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.60 to 23.23, inclusive. Stock Option granted under Hi-Tech Pharmacal Co., Inc.'s Amended and Restated Stock Option Plan, which is a Rule 16b-3 Plan Other than the option reflected on this form, Mr. Seltzer is also the holder of additional options to acquire an aggregate of 625,000 additional shares of Hi-Tech Common Stock, which options were granted on various dates, with various exercise prices, exercise dates and expiration dates. David S. Seltzer 2010-03-29