SEC Form 4 · accession 0001465825-15-000001
ELITE PHARMACEUTICALS INC /NV/ · ELTP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ashok G Nigalaye
Officer — Chief Scientific Officer · Director · 10% Owner
Period of report
Jan 6, 2015
Accepted (ET)
Jan 8, 2015 · 8:28 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001053369
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jan 6, 2015 | C | 2,833,333 | $0.0625 | A | 17,108,622 | D | |
| Common StockF2,F1 | holding | — | — | — | 20,300,770 | I | By Epic Investments, LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrants | $0.0625 | Jan 6, 2015 | C | 1,333,333 | D | Jun 3, 2009 | Jun 3, 2016 | Common Stock | 1,333,333 | 0 | D |
| Warrants | $0.0625 | Jan 6, 2015 | C | 1,500,000 | D | Oct 30, 2009 | Oct 30, 2016 | Common Stock | 1,500,000 | 8,622,043 | D |
Explanation of responses
- F1Ashok G. Nigalaye is an equity owner and executive officer of each of Epic Investments, LLC ("EI") and Epic Pharma, LLC ("EP"), which is a 10% owner of the issuer, and also serves as a director of the issuer.
- F2Represents the reporting person's pro-rata ownership of the issuer owned by EP. The reporting person disclaims beneficial ownership of such securities except, to the extent of its pecuniary interest in EI.