FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
HI TECH PHARMACAL CO INC [ HITK ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 09/16/2010 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 09/16/2010 | M | 2,358 | A | $1.92 | 2,358 | D | |||
Common Stock | 09/16/2010 | J(1) | 2,358 | D | $0 | 0 | D | |||
Common Stock | 09/20/2010 | M | 1,000 | A | $13.5 | 1,000 | D | |||
Common Stock | 09/20/2010 | S | 1,000 | D | $20.84(2) | 0 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (Right to Buy)(3) | $1.92 | 09/16/2010 | M | 2,358 | 10/26/2001(4) | 10/26/2010 | Common Stock | 2,358 | $0 | 0(5) | D | ||||
Stock Option (Right to Buy)(3) | $13.5 | 09/20/2010 | M | 1,000 | 11/28/2004(4) | 11/28/2013 | Common Stock | 1,000 | $0 | 10,375(5) | D |
Explanation of Responses: |
1. The shares acquired upon exercise of the options on September 17, 2010 were immediately distributed without consideration to members of Mr. Goldwyn's law firm. |
2. The shares reported on this line were sold in two lots of 500 shares each at prices of $20.84 and $20.846 respectively. |
3. Stock Option granted under Hi-Tech Pharmacal Co., Inc.'s 1994 Directors Stock Option Plan. |
4. The option became exercisable in four equal annual installments beginning on the first anniversary of the grant date. |
5. Other than the balance of the option to acquire 10,375 shares reflected on this form as still held by the filer, the filer is also the holder of additional options to acquire 74,179 shares of the Company's stock (for total options to acquire an aggegate of 84,554 shares held by the filer). The additional options were granted on various dates, with varying exercise prices and exercisable and expiration dates. |
Remarks: |
Martin M. Goldwyn | 09/20/2010 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |