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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
887497	Hi Tech Pharmacal Co Inc	HITK	Pharmaceutical Preparations (2834)	112638720

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1186837	M Martin Goldwyn	C/O Tashlik Kreutzer Goldwyn &Amp; Crandell 40 Cuttermill Road Great Neck NY 11021		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2010-10-05	2,512	$8.31	2,512	No	4	M	Direct
Common Stock	Disposition	2010-10-05	2,512	$0.00	0	No	4	J	Direct
Common Stock	Acquisiton	2010-10-06	1,290	$4.29	1,290	No	4	M	Direct
Common Stock	Disposition	2010-10-06	1,290	$0.00	0	No	4	J	Direct
Common Stock	Acquisiton	2010-10-06	1,000	$13.50	1,000	No	4	M	Direct
Common Stock	Disposition	2010-10-06	1,000	$21.22	0	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	J	Direct
No	4	M	Direct
No	4	J	Direct
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option (Right to Buy)	Disposition	2010-10-05	2,512	$0.00	2,512	$8.31
Common Stock	Stock Option (Right to Buy)	Disposition	2010-10-06	1,290	$0.00	1,290	$4.29
Common Stock	Stock Option (Right to Buy)	Disposition	2010-10-06	1,000	$0.00	1,000	$13.50

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
4,238	2003-12-05	2012-12-05	No	4	M	Direct
2,595	2002-10-26	2011-10-26	No	4	M	Direct
10,375	2004-11-28	2013-11-28	No	4	M	Direct

Footnotes

The shares acquired upon exercise of the options reflected on this line were immediately distributed without consideration to members of Mr. Goldwyn's law firm.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.20 to 21.23, 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 this footnote (1) of this Form 4.
Stock Option granted under Hi-Tech Pharmacal Co., Inc.'s 1994 Directors Stock Option Plan.
The options became exercisable in four equal annual installments beginning on the first anniversary of the grant date.
Other than the remaining portions of the options to acquire 4,238, 2,595 and 10,375 shares, respectively, reflected on this form as still held by the filer, the filer is also the holder of additional options to acquire 61,597 shares of the Company's stock (for total options to acquire an aggegate of 78,805 shares held by the filer). The additional options were granted on various dates, with varying exercise prices and exercisable and expiration dates.