---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-015304"
form_type: "8-K"
ticker: "ELTP"
cik: "0001053369"
company_name: "ELITE PHARMACEUTICALS INC /NV/"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:03:31.012662+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Elite Pharmaceuticals appoints Mark Pellegrino as CFO effective May 1, 2023

## Summary
- Mark Pellegrino appointed CFO, replacing Robert Chen, effective May 1, 2023.
- Annual base salary of $230,000; eligible for 1.5M stock options vesting over 3 years.
- Pellegrino has 30+ years of life sciences finance experience, most recently consultant at Barbera & Barbera.
- Stock option strike price set at closing price on first day of employment (ELTP).

## SEC filing metadata
- accession: 0001493152-23-015304
- form_type: 8-K
- ticker: ELTP
- cik: 0001053369
- company_name: ELITE PHARMACEUTICALS INC /NV/
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1053369/000149315223015304/0001493152-23-015304-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1053369/000149315223015304/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-015304
- JSON: https://secwatch.observer/filing/0001493152-23-015304.json
- Plain text: https://secwatch.observer/filing/0001493152-23-015304.txt

## Key facts
- Executive change
  Robert Chen departed as Chief Financial Officer at ELITE PHARMACEUTICALS INC /NV/.
  - Action: departed
  - Role: Chief Financial Officer
  source text: On April 27, 2023, Elite Pharmaceuticals, Inc., a Nevada corporation (the “Registrant”), entered into an employment agreement with Mark Pellegrino to serve as the Registrants’ Chief Financial Officer effective May 1, 2023, replacing Robert Chen.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1053369/000149315223015304/0001493152-23-015304-index.htm
- Executive change
  Mark Pellegrino was appointed as Chief Financial Officer at ELITE PHARMACEUTICALS INC /NV/.
  - Action: appointed
  - Role: Chief Financial Officer
  source text: On April 27, 2023, Elite Pharmaceuticals, Inc., a Nevada corporation (the “Registrant”), entered into an employment agreement with Mark Pellegrino to serve as the Registrants’ Chief Financial Officer effective May 1, 2023, replacing Robert Chen.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1053369/000149315223015304/0001493152-23-015304-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.