Edgar Filing: LANNETT CO INC

Ownership Submission

FORM 4

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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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(h) of the Investment Company Act of 1940

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3235-0287

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

SMITH KEVIN

2. Issuer Name and Ticker or Trading Symbol
LANNETT CO INC [LCI]

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

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Vice President

(Last)

(First)

(Middle)

9000 STATE ROAD

3. Date of Earliest Transaction (Month/Day/Year)
02/19/2014

(Street)

PHILADELPHIA, PA 19136

4. If Amendment, Date 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

(City)

(State)

(Zip)

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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/19/2014		M		8,000	A	$ 5.18	67,566	D
Common Stock	02/19/2014		S		8,000	D	$ 45.73	59,566	D
Common Stock	02/19/2014		M		5,943	A	$ 4.03	65,509	D
Common Stock	02/19/2014		S		5,943	D	$ 45.68	59,566	D
Common Stock	02/19/2014		M		5,333	A	$ 2.8	64,899	D
Common Stock	02/19/2014		S		5,333	D	$ 45.36	59,566	D
Common Stock	02/19/2014		M		1,666	A	$ 3.55	61,232	D
Common Stock	02/19/2014		S		1,666	D	$ 45.04	59,566	D
Common Stock	02/19/2014		M		4,000	A	$ 3.55	63,566	D
Common Stock	02/19/2014		S		4,000	D	$ 44.75	59,566	D
Common Stock	02/20/2014		M		5,000	A	$ 4.16	64,566	D
Common Stock	02/20/2014		S		5,000	D	$ 44.65	59,566	D
Common Stock	02/20/2014		M		4,000	A	$ 4.16	63,566	D
Common Stock	02/20/2014		S		4,000	D	$ 44.6	59,566	D
Common Stock	02/20/2014		M		2,666	A	$ 4.16	62,232	D
Common Stock	02/20/2014		S		2,666	D	$ 44.6	59,566	D
Common Stock	02/20/2014		M		3,500	A	$ 3.55	63,066	D
Common Stock	02/20/2014		S		3,500	D	$ 44.89	59,566	D
Common Stock	02/20/2014		M		3,500	A	$ 3.55	63,066	D
Common Stock	02/20/2014		S		3,500	D	$ 44.79	59,566	D
Common Stock	02/20/2014		M		4,000	A	$ 3.55	63,566	D
Common Stock	02/20/2014		S		4,000	D	$ 45	59,566	D
Common Stock	02/20/2014		M		4,057	A	$ 4.03	63,623	D
Common Stock	02/20/2014		S		4,057	D	$ 45.25	59,566	D
Common Stock	02/20/2014		M		4,000	A	$ 4.03	63,566	D
Common Stock	02/20/2014		S		4,000	D	$ 45.2	59,566	D
Common Stock	02/20/2014		M		4,800	A	$ 4.03	64,366	D
Common Stock	02/20/2014		S		4,800	D	$ 45	59,566	D
Common Stock	02/20/2014		M		4,200	A	$ 4.03	63,766	D
Common Stock	02/20/2014		S		4,200	D	$ 45	59,566	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option

$ 5.18

02/19/2014

8,000

⁽¹⁾

10/25/2015

Common Stock

8,000

$ 0

168,666

Stock Option

$ 4.03

02/19/2014

5,943

⁽²⁾

09/17/2017

Common Stock

5,943

$ 0

162,723

Stock Option

$ 2.8

02/19/2014

5,333

09/18/2009

09/17/2018

Common Stock

5,333

$ 0

157,390

Stock Option

$ 3.55

02/19/2014

1,666

08/25/2012

08/25/2021

Common Stock

1,666

$ 0

155,724

Stock Option

$ 3.55

02/19/2014

4,000

08/25/2012

08/25/2021

Common Stock

4,000

$ 0

151,724

Stock Option

$ 4.16

02/20/2014

5,000

10/26/2013

10/25/2022

Common Stock

5,000

$ 0

146,724

Stock Option

$ 4.16

02/20/2014

4,000

10/26/2013

10/25/2022

Common Stock

4,000

$ 0

142,724

Stock Option

$ 4.16

02/20/2014

2,666

10/26/2013

10/25/2022

Common Stock

2,666

$ 0

140,058

Stock Option

$ 3.55

02/20/2014

3,500

08/25/2012

08/25/2021

Common Stock

3,500

$ 0

136,558

Stock Option

$ 3.55

02/20/2014

3,500

08/25/2012

08/25/2021

Common Stock

3,500

$ 0

133,058

Stock Option

$ 3.55

02/20/2014

4,000

08/25/2012

08/25/2021

Common Stock

4,000

$ 0

129,058

Stock Option

$ 4.03

02/20/2014

4,057

09/17/2008

09/17/2017

Common Stock

4,057

$ 0

125,001

Stock Option

$ 4.03

02/20/2014

4,000

09/17/2008

09/17/2017

Common Stock

4,000

$ 0

121,001

Stock Option

$ 4.03

02/20/2014

4,800

⁽³⁾

09/17/2017

Common Stock

4,800

$ 0

116,201

Stock Option

$ 4.03

02/20/2014

4,200

09/17/2009

09/17/2017

Common Stock

4,200

$ 0

112,001

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
SMITH KEVIN 9000 STATE ROAD PHILADELPHIA, PA 19136			Vice President

Signatures

/s/ Martin P. Galvan Limited Power of Attorney For: Kevin Smith		02/20/2014
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Options became exercisable as follows: 4,000 on 10/25/2006, 4,000 on 10/25/2007.
(2)	Options became exercisable as follows: 5,542 on 9/17/2008, 401 on 9/17/2009.
(3)	Options became exercisable as follows: 3,067 on 9/17/2008, 1,733 on 9/17/2009.

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