UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
/ / Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person
Seltzer Bernard
(Last) (First) (Middle)
707 Virginia Street
(Street)
Far Rockaway New York 11691
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Hi-Tech Pharmacal Co., Inc. (HITK)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
1/97
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
/X/ Director / / 10% Owner
/X/ Officer (give title below) / / Other (specify below)
President, Chairman of the Board, Chief Executive Officer
<TABLE>
<CAPTION>
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
4. Securities Acquired
3. Transaction (A) or Disposed of (D)
2. Trans- Code (Instr. 3, 4 and 5)
action (Instr. 8) -------------------------
Date ------------- (A) or
1. Title of Security (Instr.3) (Month/Day/Year) Code V Amount (D) Price
--------------------------- ---------------- ----- ----- ------- ------- ------
<S> <C> <C> <C> <C> <C> <C>
Common Stock 1/21/97 G V 60,000 D N/A
<CAPTION>
5. Amount 6. Ownership
of Secu- Form:
rities Direct 7. Nature of
Beneficially (D) or Indirect
Owned At End Indirect Beneficial
of Month (I) Ownership
(Instr.3 and 4) (Instr. 4) (Instr. 4)
----------- ------------ ------------
<S> <C> <C>
823,368 D
60,000 I By Spouse
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
<PAGE>
<TABLE>
<CAPTION>
Table II - Derivative Securities Acquired, Disposed of Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
5. Number of Deriva-
tive Securities 6. Date Exercisable
4. Transaction Acquired (A) or and Expiration
2. Conver- 3. Trans- Code Disposed of (D) Date (Month/Day/
sion or ation (Instr. 8) (Instr. 3, 4, and 5) Year)
Exercise Date ------------ ---------------------- ----------------
Price of (Month/ Date Expir-
1. Title of Derivative Derivative Day/ Exer- ation
Security (Instr. 3) Security Year) Code V (A) (D) cisable Date
------------------------ ----------- --------- ----- --- --------- ------------ ------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
<CAPTION>
7. Title and Amount of 9. Number of 10. Ownership
Underlying Securities Derivative Form of
(Instr. 3 and 4) 8. Price of Securities Derivative 11. Nature of
------------------------ Derivative Beneficially Security: Indirect
Amount or Secur- Owned at End Direct (D) Beneficial
Number of ity of Month or Indirect Ownership
Title Shares (Instr. 5) (Instr. 4) (I) (Instr. 4) (Instr. 4)
------ ---------- ---------- ------------ -------------- -----------
<S> <C> <C> <C> <C> <C>
</TABLE>
Explanation of Responses:
/s/Bernard Seltzer 2/10/97
- ----------------------------------------------- ---------------------------
**Signature of Reporting Person Date
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a)
Note: File three copies of this Form, one of which must be manually signed. If
space is insufficient, See Instruction 6 for procedure.
