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

Signature
Kirko Kirkov
Issuer symbol
ELTP
Transactions as of
10 Nov 2022
Net transactions value
+$105,000
Form type
4
Filing time
14 Nov 2022, 10:10:33 UTC
Previous filing
13 Sep 2022
Next filing
25 Jul 2025

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 $105,000 +3,000,000 $0.0350 3,000,000 06 Sep 2022 Common Stock 3,000,000 $0.0350 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.