Lannett (LCINQ) Form 5 LANNETT / JEFFREY FARBER ownership change

SEC Form 5

FORM 5

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

ANNUAL 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).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

FARBER JEFFREY

(Last) (First) (Middle)

1775 JOHN R ROAD

(Street)

TROY MI 48083

(City) (State) (Zip)

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

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

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

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
06/30/2020

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 at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
				Amount	(A) or (D)	Price
Common Stock	11/07/2019		G(1)	68,200	D	$0.00	1,006,928	I	Jeffrey Farber Family Foundation(2)
Common Stock	11/14/2019		G(1)	10,000	D	$0.00	996,928	I	Jeffrey Farber Family Foundation(3)
Common Stock	11/22/2019		G(1)	2,500	D	$0.00	994,428	I	Jeffrey Farber Family Foundation(4)
Common Stock	11/25/2019		G(1)	16	D	$0.00	994,412	I	Jeffrey Farber Family Foundation(5)
Common Stock	12/20/2019		S	142	D	$9.25	528,000	I	Farber Family LLC(6)
Common Stock	12/27/2019		J(7)(8)	500,000	D	$0.00	1,843,614	D
Common Stock	12/27/2019		J(7)(8)	500,000	A	$0.00	640,919	I	2019 GRAT(6)
Common Stock	01/31/2020		P	122	A	$8.16	528,122	I	Farber Family LLC(6)
Common Stock	03/31/2020		J(8)(9)	15,910	D	$0.00	0	I	2018 GRAT(6)
Common Stock	03/31/2020		J(8)(9)	15,910	A	$0.00	1,859,524	D
Common Stock	05/12/2020		J(8)(10)	300,000	D	$0.00	1,559,524	D
Common Stock	05/12/2020		J(8)(10)	300,000	A	$0.00	300,000	I	2020 GRAT(6)
Common Stock	06/09/2020		J(8)(11)	70,000	D	$0.00	570,919	I	2019 GRAT(6)
Common Stock	06/09/2020		J(8)(11)	70,000	A	$0.00	1,629,524	D
Common Stock							30,000	I	Jeffrey & Jennifer Farber Family Foundation(6)
Common Stock							73,408	I	Jeffrey Farber, Custodian for Children(6)
Common Stock							38,000	I	Farber Investment, LLC(12)
Common Stock							17,279	I	Jeffrey Farber, Joint Custodian(6)

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)
					(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This transaction represents a gift for no value by the Reporting Person.

2. On November 7, 2019, the Jeffrey Farber Family Foundation gifted 68,200 shares to a charitable organization.

3. On November 14, 2019, the Jeffrey Farber Family Foundation gifted 10,000 shares to a charitable organization.

4. On November 22, 2019, the Jeffrey Farber Family Foundation gifted 2,500 shares to a charitable organization.

5. On November 25, 2019, the Jeffrey Farber Family Foundation gifted 16 shares to a charitable organization.

6. Jeffrey Farber disclaims beneficial ownership of these shares.

7. On December 27, 2019, Jeffrey Farber's Trust transferred 500,000 shares to the 2019 GRAT.

8. This transaction represents a transfer for no value by the Reporting Person.

9. On March 31, 2020, the 2018 GRAT transferred 15,910 shares to Jeffrey Farber's Trust.

10. On May 12, 2020, Jeffrey Farber's Trust transferred 300,000 shares to the 2020 GRAT.

11. On June 30, 2020, the 2019 GRAT transferred 70,000 shares to Jeffrey Farber's Trust.

12. Jeffrey Farber disclaims beneficial ownership of all but 9,500 shares held by Farber Investment, LLC.

Remarks:

	/s/ Samuel H. Israel Limited Power of Attorney For: Jeffrey Farber	08/07/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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