X0303 4 2009-06-17 0 0001124105 TARGACEPT INC TRGT 0001030468 BROWN JULIA R C/O TARGACEPT, INC. 200 EAST FIRST STREET, SUITE 300 WINSTON-SALEM NC 27101 1 0 0 0 Stock Option (Right to Buy) 2.71 2009-06-17 4 A 0 7500 0 A 2019-06-16 Common Stock 7500 7500 D This stock option vests and becomes exercisable in full on the earlier of (i) June 17, 2010 or (ii) the buisness day immediately preceding the date of the issuer's annual meeting of stockholders that occurs in 2010, provided that the reporting person remains in service as a director on such earlier date. /s/ Peter A. Zorn, Attorney-in-Fact for Julia R. Brown 2009-06-17