PRAECIS PHARMACEUTICALS INC 4

4 · PRAECIS PHARMACEUTICALS INC · Filed Jun 21, 2006

Form 4

Period: 2006-06-19

EVP and Chief Medical Officer

Transactions

Award
Stock Option (Right to Buy)
2006-06-19+19,999→ 19,999 total
Exercise: $3.35From: 2006-06-19Exp: 2006-12-31→ Common Stock, par value $.01 per share (19,999 underlying)
Award
Stock Option (Right to Buy)
2006-06-19+13,999→ 13,999 total
Exercise: $9.30From: 2006-06-19Exp: 2006-12-31→ Common Stock, par value $.01 per share (13,999 underlying)
Disposition to Issuer
Stock Option (Right to Buy)
2006-06-19−13,999→ 0 total
Exercise: $9.30From: 2006-06-19Exp: 2006-09-19→ Common Stock, par value $.01 per share (13,999 underlying)
Disposition to Issuer
Stock Option (Right to Buy)
2006-06-19−19,999→ 0 total
Exercise: $3.35From: 2006-06-19Exp: 2006-09-19→ Common Stock, par value $.01 per share (19,999 underlying)

Holdings

Footnotes (4)

[F1]Adjusted to reflect a 1-for-5 reverse stock split effected November 1, 2005.
[F2]Reflects distributions for no consideration to Dr. Garnick in April 2006 of 706 shares by the Garnick Family 1999 Grantor Retained Annuity Trust and 3,257 shares by the Garnick Family 2003 Grantor Retained Annuity Trust for the purpose of meeting each GRAT's annuity payment obligation,
[F3]The term of the option is ten years from the date of grant.
[F4]The reported transactions involve an amendment of two outstanding option grants, resulting in the deemed cancellation of the old options and the grant of replacement options. These options were originally granted on November 11, 2004 and May 27, 2005 and vested over three and four years, respectively. In connection with the termination of the reporting person's employment from the Company effective June 19, 2006, vesting of the unvested portion of each option grant was accelerated. The option grants were also amended to provide that such options shall remain exercisable following the reporting person's termination date until December 31, 2006.

Documents

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