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^*

CREECH TIMOTHY J

(Last)

(First)

(Middle)

C/O SALIX PHARMACEUTICALS, LTD.

8510 COLONNADE CENTER DRIVE

(Street)

RALEIGH

27615

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/05/2014

3. Issuer Name and Ticker or Trading Symbol
SALIX PHARMACEUTICALS LTD [ SLXP ]

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

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

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	5,773	D
Common Stock	1,782⁽¹⁾	D
Common Stock	2,835⁽²⁾	D
Common Stock	4,875⁽³⁾	D
Common Stock	7,260⁽⁴⁾	D
Common Stock	11,260⁽⁵⁾	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)

Explanation of Responses:

1. Represents the remaining unvested portion of a restricted stock award granted on April 25, 2011, which vests January 2, 2015, subject to continued employment.

2. Represents the remaining unvested portion of a restricted stock award granted on April 26, 2012, which vests annually in two equal installments on January 2, 2015 and January 2, 2016, subject to continued employment.

3. Represents the remaining unvested portion of a restricted stock award granted on April 18, 2013, which vests annually in three equal installments on January 2, 2015, January 2, 2016, and January 2, 2017, subject to continued employment.

4. Represents a restricted stock award granted on April 17, 2014, which vests annually in four equal installments beginning January 2, 2015, subject to continued employment.

5. Represents a restricted stock award granted on August 22, 2014, which vests annually in four equal installments beginning August 22, 2015, subject to continued employment.

Remarks:

Senior Vice President, Finance and Administrative Services, and Acting Chief Financial Officer

	/s/ Timothy J. Creech	11/10/2014
	** 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.