Kirko Kirkov - Nov 10, 2022 Form 4 Insider Report for ELITE PHARMACEUTICALS INC /NV/ (ELTP)

Role
Chief Commercial Officer
Signature
Kirko Kirkov
Stock symbol
ELTP
Transactions as of
Nov 10, 2022
Transactions value $
$105,000
Form type
4
Date filed
11/14/2022, 10:10 AM
Previous filing
Sep 13, 2022

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 $105K +3M $0.04 3M Sep 6, 2022 Common Stock 3M $0.04 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Board of Directors approved and awarded options on November 10, 2022, as part of Mr. Kirkov's employment agreement dated September 6, 2022.
F2 The options will vest over a three-year period, commencing one year from the date of issuance. The first third will vest on September 6, 2023.