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^*

BRADSHER NEAL C

(Last)

(First)

(Middle)

C/O BROADWOOD CAPITAL INC.

724 FIFTH AVENUE, 9TH FLOOR

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
QUESTCOR PHARMACEUTICALS INC [ QCOR ]

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)
05/14/2014

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	05/14/2014		M		7,500	A	$0.84	11,683	D⁽¹⁾
Common Stock								2,046,660	I	Footnote⁽²⁾

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)
OPTION TO PURCHASE COMMON SHARES	$0.84	05/14/2014		M			7,500	⁽³⁾	05/16/2014	COMMON SHARES	7,500	⁽⁴⁾	0	D⁽¹⁾
OPTION TO PURCHASE COMMON SHARES	$34.86							⁽⁵⁾	05/24/2023	COMMON SHARES	9,203		9,203	D⁽¹⁾
OPTION TO PURCHASE COMMON SHARES	$40.37							⁽³⁾	05/09/2022	COMMON SHARES	15,214		15,214	D⁽¹⁾
OPTION TO PURCHASE COMMON SHARES	$14.73							⁽³⁾	12/31/2020	COMMON SHARES	17,500		17,500	D⁽¹⁾
OPTION TO PURCHASE COMMON SHARES	$14.73							⁽⁶⁾	12/31/2020	COMMON SHARES	15,000		15,000	D⁽¹⁾
OPTION TO PURCHASE COMMON SHARES	$4.75							⁽³⁾	12/31/2019	COMMON SHARES	17,500		17,500	D⁽¹⁾
OPTION TO PURCHASE COMMON SHARES	$4.75							⁽³⁾	12/31/2019	COMMON SHARES	15,000		15,000	D⁽¹⁾
OPTION TO PURCHASE COMMON SHARES	$9.31							⁽³⁾	12/31/2018	COMMON SHARES	32,500		32,500	D⁽¹⁾
OPTION TO PURCHASE COMMON SHARES	$5.77							⁽³⁾	12/31/2017	COMMON SHARES	32,500		32,500	D⁽¹⁾
OPTION TO PURCHASE COMMON SHARES	$1.47							⁽³⁾	12/31/2016	COMMON SHARES	32,500		32,500	D⁽¹⁾
OPTION TO PURCHASE COMMON SHARES	$1.04							⁽³⁾	12/31/2015	COMMON SHARES	32,500		32,500	D⁽¹⁾
OPTION TO PURCHASE COMMON SHARES	$0.53							⁽³⁾	12/31/2014	COMMON SHARES	32,500		32,500	D⁽¹⁾

Explanation of Responses:

1. These securities are owned by Neal C. Bradsher, who is the Reporting Person.

2. The reported securities are directly owned by Broadwood Partners, L.P. and may be deemed beneficially owned by Broadwood Capital, Inc. as General Partner of Broadwood Partners, L.P. and Neal C. Bradsher as President of Broadwood Capital, Inc. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

3. These options are currently exercisable.

4. Options granted under the 2004 Non-Employee Director Equity Incentive Plan.

5. These options vest in equal monthly installments over one year from the time of the grant.

6. These options vest monthly over 48 months from the time of the grant.

	/s/ Neal C. Bradsher	05/16/2014
	** 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 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.