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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
887497	Hi Tech Pharmacal Co Inc	HITK	Pharmaceutical Preparations (2834)	112638720

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1186837	M Martin Goldwyn	C/O Tashlik Kreutzer Goldwyn &Amp; Crandell 40 Cuttermill Road Great Neck NY 11021		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2010-09-16	2,358	$1.92	2,358	No	4	M	Direct
Common Stock	Disposition	2010-09-16	2,358	$0.00	0	No	4	J	Direct
Common Stock	Acquisiton	2010-09-20	1,000	$13.50	1,000	No	4	M	Direct
Common Stock	Disposition	2010-09-20	1,000	$20.84	0	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	J	Direct
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option (Right to Buy)	Disposition	2010-09-16	2,358	$0.00	2,358	$1.92
Common Stock	Stock Option (Right to Buy)	Disposition	2010-09-20	1,000	$0.00	1,000	$13.50

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2001-10-26	2010-10-26	No	4	M	Direct
10,375	2004-11-28	2013-11-28	No	4	M	Direct

Footnotes

The shares acquired upon exercise of the options on September 17, 2010 were immediately distributed without consideration to members of Mr. Goldwyn's law firm.
The shares reported on this line were sold in two lots of 500 shares each at prices of $20.84 and $20.846 respectively.
Stock Option granted under Hi-Tech Pharmacal Co., Inc.'s 1994 Directors Stock Option Plan.
The option became exercisable in four equal annual installments beginning on the first anniversary of the grant date.
Other than the balance of the option to acquire 10,375 shares reflected on this form as still held by the filer, the filer is also the holder of additional options to acquire 74,179 shares of the Company's stock (for total options to acquire an aggegate of 84,554 shares held by the filer). The additional options were granted on various dates, with varying exercise prices and exercisable and expiration dates.