SEC Form 4 · accession 0001583742-17-000002
ELITE PHARMACEUTICALS INC /NV/ · ELTP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Nasrat A Hakim
Officer — CEO & President · Director · 10% Owner
Period of report
Apr 28, 2017
Accepted (ET)
May 3, 2017 · 6:17 pm EDT
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 StockF1 | Apr 28, 2017 | J | 158,017,321 | — | D | 9,097,561 | D | |
| Common Stock | holding | — | — | — | 2,700,000 | I | by IRA |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series J Convertible Preferred SharesF1,F2,F3,F4 | $1,000,000.00 | Apr 28, 2017 | J | 24 | A | — | — | Common Stock | 158,017,321 | 24 | D |
| WarrantsF3 | $0.1521 | Apr 28, 2017 | J | 79,008,661 | A | — | Apr 28, 2027 | Common Stock | 79,008,661 | 79,008,661 | D |
Explanation of responses
- F1The common shares were returned to the company in exchange for the Series J Convertible Preferred Shares and warrants issued by the company.
- F2The preferred shares are convertible into shares of common stock at a rate of 6,576,878.18 shares of common stock for each whole share of preferred stock.
- F3The date that Shareholder Approval is obtained for an increase in the number of authorized shares of common stock to permit full conversion of the preferred stock and exercise of the warrants.
- F4None.