SEC FORM 3

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

RIGBY JONATHAN

(Last)

(First)

(Middle)

ARADIGM CORPORATION

3929 POINT EDEN WAY

(Street)

HAYWARD

94545

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/07/2006

3. Issuer Name and Ticker or Trading Symbol
ARADIGM CORP [ ARDM ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP, Business Development

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	8,000	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Option (Right to Buy)	⁽¹⁾	09/27/2014	Common Stock	2,000	⁽²⁾	D
Option (Right to Buy)	⁽³⁾	05/12/2014	Common Stock	8,000	⁽²⁾	D
Option (Right to Buy)	⁽⁴⁾	09/23/2013	Common Stock	3,000	⁽²⁾	D
Option (Right to Buy)	⁽⁵⁾	08/06/2013	Common Stock	1,000	⁽²⁾	D
Option (Right to Buy)	⁽⁶⁾	08/22/2012	Common Stock	5,000	⁽²⁾	D

Explanation of Responses:

1. 50% of the options granted shall vest on the one year anniversary of the grant date and 50% vest on the two year anniversary of the grant date.

2. Inapplicable.

3. Option becomes exercisable as to 25% twelve months from May 13, 2004 and 6.25% will then vest each quarter thereafter.

4. Option becomes exercisable as to 25% twelve months from September 24, 2003 and 6.25% will then vest each quarter thereafter.

5. Option becomes exercisable in sixteen equal quarterly installments beginning on August 7, 2003.

6. Option becomes exercisable as to 25% twelve months from July 1, 2003 and 6.25% will then vest each quarter thereafter.

Remarks:

	Jonathan Rigby, by /s/ Ron A. Metzger, Attorney-in-Fact	03/17/2006
	** 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 5 (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.