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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
1142334	Reuben Seltzer	C/O Hi-Tech Pharmacal Co., Inc. 369 Bayview Avenue Amityville NY 11701	Vice Chairman, Business Dev't	Yes	Yes	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	Disposition	2012-10-11	9,293	$33.18	531,867	No	4	S	Direct
Common Stock	Disposition	2012-10-11	707	$34.01	531,160	No	4	S	Direct
Common Stock	Acquisiton	2012-10-12	11,250	$8.31	542,410	No	4	M	Direct
Common Stock	Disposition	2012-10-12	11,250	$33.01	531,160	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	S	Direct
No	4	S	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	2012-10-12	11,250	$0.00	11,250	$8.31

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2003-12-02	2012-12-02	No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	300,108	Indirect	By Spouse and Issue

Footnotes

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.00 to $33.64, 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), (2) and (3) 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 $34.00 to $34.11, inclusive.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.85 to $33.19, inclusive.
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) eqial annual installments beginning on the first anniversary of the grant date.
Other than the option reflected on this form as exercised by Mr. Seltzer, Mr. Seltzer is also the holder of options to acquire an aggregate 276,250 shares of Hi-Tech Common Stock, which options were granted on various dates, with various exercise prices, exercise dates and expiration dates.