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). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
SALIX PHARMACEUTICALS LTD [ SLXP ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 05/25/2004 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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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 | ||||||
Common Stock | 05/25/2004 | G | V | 51,952 | D | $0 | 448,048 | D | ||
Common Stock | 05/25/2004 | G | V | 51,952 | A | $0 | 351,556 | I | By Grat(1) |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 | ||||||||
Option to Buy Common Stock | $11.4 | (2) | 07/24/2013 | Common Stock | 10,000 | 10,000 | D | ||||||||
Option to Buy Common Stock | $6.1 | (3) | 07/02/2012 | Common Stock | 10,000 | 10,000 | D | ||||||||
Option to Buy Common Stock | $7.38 | 01/01/2001 | 12/03/2010 | Common Stock | 15,000 | 15,000 | D |
Explanation of Responses: |
1. The shares held in this grantor retained annuity trust were previously reported as held directly by the reporting person. In addition, the reporting person no longer has beneficial ownership over the 83,000 shares held in trust that were previously reported as indirectly beneficially owned by the reporting person. |
2. Option vests at a rate of 1/12th per month, with a vesting commencement date of July 1, 2003. |
3. Option vests at a rate of 1/12th per month, with a vesting commencement date of July 1, 2002. |
Remarks: |
EXPLANATORY NOTE: This amendment is being filed to reflect the reporting person's disclaimer of beneficial ownership, as reported on the original Form 4, of a total of 14,000 shares held in trust for the benefit of his children and with respect to which neither the reporting person nor his spouse is the trustee. The reporting person disclaims beneficial ownership of such shares for purpose of section 16 and for any other purpose. |
/s/ Stephen D. Celestini, by power of attorney | 06/07/2004 | |
** 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). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |