XNAS:HITK Insider Activity 4 Filing - 7/13/2012

Effective Date 7/13/2012

FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
GOLDWYN MARTIN M
  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)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O TASHLIK KREUTZER GOLDWYN & CRANDELL, 40 CUTTERMILL ROAD
3. Date of Earliest Transaction (Month/Day/Year)
07/13/2012
(Street)

GREAT NECK, NY 11021
4. If Amendment, Date Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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 07/13/2012   M   1,406 A $8.31 1,406 D  
Common Stock 07/13/2012   J(1)   1,406 D $ 0 0 D  
Common Stock 07/16/2012   M   1,956 A $13.5 1,956 D  
Common Stock 07/16/2012   S   1,956 D $29.83 0 D  
Common Stock 07/16/2012   M   4,000 A $14.99 4,000 D  
Common Stock 07/16/2012   S   4,000 D $32.11(2) 0 D  
Common Stock 07/17/2012   M   401 A $14.99 401 D  
Common Stock 07/17/2012   S   401 D $32.05 0 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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 Underlying Securities
(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 of Derivative Security: 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) $8.31 07/13/2012   M     1,406 12/05/2003(4) 12/05/2012 Common Stock 1,406 $ 0 2,832(5) D  
Stock Option (Right to Buy)(3) $13.5 07/16/2012   M     1,956 11/28/2004(4) 11/28/2013 Common Stock 1,956 $ 0 7,419(5) D  
Stock Option (Right to Buy)(3) $14.99 07/16/2012   M     4,000 11/09/2007(4) 11/09/2016 Common Stock 4,000 $ 0 7,250(5) D  
Stock Option (Right to Buy)(3) $32.59 07/16/2012   A   10,000   07/16/2013(4) 07/16/2022 Common Stock 10,000 $ 0 10,000(5) D  
Stock Option (Right to Buy)(3) $14.99 07/17/2012   M     401 11/09/2007(4) 11/09/2016 Common Stock 401 $ 0 6,849(5) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
GOLDWYN MARTIN M
C/O TASHLIK KREUTZER GOLDWYN & CRANDELL
40 CUTTERMILL ROAD
GREAT NECK, NY 11021
  X      

Signatures

 Martin M. Goldwyn   07/17/2012
** Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) The shares acquired upon exercise of the options reflected on this form were immediately distributed without consideration to a member or members of Mr. Goldwyn's law firm.
(2) The shares noted in this transaction were sold in two lots of 2,000 shares each, at $32.02 per share and $32.20 per share, respectively. The weighted average price per share is $32.11.
(3) Stock Option granted under Hi-Tech Pharmacal Co., Inc.'s 1994 Directors Stock Option Plan.
(4) The option became or becomes exercisable in four equal annual installments beginning on the first anniversary of the grant date.
(5) Other than the options to acquire an aggregate of 27,100 shares reflected on this form as still held by the filer, the filer is also the holder of additional options to acquire 61,748 shares of the Company's stock (for total options to acquire an aggegate of 88,848 shares held by the filer). The other options were granted on various dates, with varying exercise prices and exercisable and expiration dates.

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XNAS:HITK Insider Activity 4 Filling

XNAS:HITK Stock - Get Insider Activity SEC Filing of XNAS:HITK stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

XNAS:HITK Insider Activity 4 Filing - 7/13/2012
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Title |  Date |  Author |  Collection |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Title |  Date |  Company |  Symbol |  Interest |  Popularity

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