Elite EVP (ELTP) exercises 2.5M stock options at $0.03 on Jan. 9 2026

Rhea-AI Filing Summary

Elite Pharmaceuticals executive Douglas Plassche reported an option exercise. On 01/09/2026, the EVP of Operations exercised stock options covering 2,500,000 shares of Elite Pharmaceuticals common stock at an exercise price of $0.03 per share, converting them into 2,500,000 shares of common stock.

The stock options were fully vested and exercisable as of the transaction date. Following this transaction, Plassche directly beneficially owns 6,000,000 shares of Elite Pharmaceuticals common stock and holds no remaining derivative securities from this reported option grant.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Plassche Douglas

(Last) (First) (Middle)

165 LUDLOW AVE.

(Street)

NORTHVALE NJ 07647

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ELITE PHARMACEUTICALS INC /NV/ [ ELTP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP Operations

3. Date of Earliest Transaction (Month/Day/Year)
01/09/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Stock Options (right to buy)	01/09/2026		M		2,500,000	A	$0.03	6,000,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (right to buy)	$0.03	01/09/2026		M			2,500,000	01/03/2026(1)	01/03/2033	Common Stock	2,500,000	$0	0	D

Explanation of Responses:

1. All of the stock options were fully vested and exercisable as of the transaction date.

	/s/ Douglas Plassche	01/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did ELTP report for Douglas Plassche?

Douglas Plassche, EVP Operations of Elite Pharmaceuticals, reported exercising stock options for 2,500,000 shares of common stock on 01/09/2026.

What was the exercise price of the options in the ELTP Form 4?

The reported stock options for Elite Pharmaceuticals (ELTP) were exercised at an exercise price of $0.03 per share.

How many Elite Pharmaceuticals shares does Douglas Plassche own after this Form 4 transaction?

After the reported transaction, Douglas Plassche directly beneficially owns 6,000,000 shares of Elite Pharmaceuticals common stock.

What happened to the stock options reported in the ELTP Form 4?

The 2,500,000 stock options were fully vested and exercisable and were exercised into 2,500,000 common shares, leaving 0 derivative securities from this grant outstanding.

What is Douglas Plassche’s role at Elite Pharmaceuticals (ELTP)?

Douglas Plassche is an officer of Elite Pharmaceuticals, serving as EVP Operations, according to the Form 4 filing.

Is the reported ELTP insider transaction held directly or indirectly?

The Form 4 shows the securities as held with direct beneficial ownership by Douglas Plassche.