Douglas Plassche - Jan 3, 2023 Form 4 Insider Report for ELITE PHARMACEUTICALS INC /NV/ (ELTP)

Role
Executive VP Operations
Signature
Doug Plassche
Stock symbol
ELTP
Transactions as of
Jan 3, 2023
Transactions value $
$225,000
Form type
4
Date filed
6/26/2023, 12:46 PM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ELTP Options Award $225K +7.5M $0.03 7.5M Jan 3, 2023 Common Stock 7.5M $0.03 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Options were awarded by the Board of Directions as part of Mr. Plassche's employment retention agreement.
F2 The options will best over a three-year period, commencing one year from the date of issuance. The first third will vest on January 3, 2024.