X0303 4 2009-02-23 0 0001360886 OSIRIS THERAPEUTICS, INC. OSIR 0001008317 FRIEDLI PETER C/O OSIRIS THERAPEUTICS, INC. 7015 ALBERT EINSTEIN DRIVE COLUMBIA MD 21046 1 0 1 1 Chairman Common Stock 2009-02-23 4 A 0 10000 18.60 A 4166685 I See Note Common Stock 10085794 D Grant of 10,000 shares of Common Stock as compensation for services as Chairman of the Registrant's Board of Directors during the fiscal year ended December 31, 2008 made under the Amended 2006 Omnibus Plan. Shares registered in the name of Madison Partners, Inc., a Panama corporation. The Reporting Person holds a 60% interest in Madison Partners, Inc. and serves as its President. The Reporting Person holds indirect beneficial ownership of 4,153,310 shares held by Venturetec, Inc., 10,000 shares held by Madison Partners, Inc., 2,750 shares held by his spouse and 625 shares held by his mother. The Reporting Person holds approximately a 3% interest in Venturetec, Inc. and serves as its president. The Preporting Perosn holds approximately a 60% interest in Madison Partners, Inc. and serves as its president. The Reporting Person disclaims beneficial ownership interest in the shares held by his spouse and mother and disclaims beneficial interest in the shares held by Venturetec, Inc. and Madison Partners, Inc. beyond the extent of his pecuniary interest therein. Peter Friedli 2009-02-25