Marc Bregman - May 17, 2021 Form 4 Insider Report for ELITE PHARMACEUTICALS INC /NV/ (ELTP)

Role
CFO, Secretary, Treasurer
Signature
Marc Bregman
Stock symbol
ELTP
Transactions as of
May 17, 2021
Transactions value $
$16,860
Form type
4
Date filed
7/7/2021, 05:00 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 $16.9K +300K $0.06 300K May 17, 2021 Common Stock 300K $0.06 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 Directors as part of Mr. Bregman's employment agreement.
F2 The options will vest over a three-year period, commencing one year from the date of issuance. The first third will vest on May 17, 2022