SEC FORM 4

SEC Form 4

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^*

Neukermans Armand

(Last)

(First)

(Middle)

10260 BUBB ROAD

(Street)

CUPERTINO

95014

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
DURECT CORP [ DRRX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/14/2012

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 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	06/14/2012		P		100	A	$0.8511	82,200	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		200	A	$0.8513	82,400	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8517	82,500	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		200	A	$0.852	82,700	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		400	A	$0.8526	83,100	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		200	A	$0.8529	83,300	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.853	83,400	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8533	83,500	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8546	83,600	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8547	83,700	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		400	A	$0.8547	84,100	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8551	84,200	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8554	84,300	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8559	84,400	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.858	84,500	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		400	A	$0.8582	84,900	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8583	85,000	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8586	85,100	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		17	A	$0.8589	85,117	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		983	A	$0.859	86,100	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		300	A	$0.8591	86,400	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8592	86,500	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		200	A	$0.8594	86,700	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		200	A	$0.8595	86,900	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8596	87,000	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8597	87,100	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		400	A	$0.8599	87,500	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.87	87,600	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8753	87,700	I	by Trust⁽¹⁾
Common Stock	06/14/2012		P		100	A	$0.8755	87,800	I	by Trust⁽¹⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Held by Neukermans Family Trust u/a/d January 21, 1993

	Armand P. Neukermans	06/18/2012
	** 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.