X0202 3 2005-02-03 0 0001062613 FAIRPOINT COMMUNICATIONS INC FRP 0001315616 Hood Lisa R C/O FAIRPOINT COMMUNICATIONS, INC. 521 E. MOREHEAD STREET, SUITE 250 CHARLOTTE NC 28202 0 1 0 0 Senior VP and Controller Common Stock, par value $.01 per share 1421 D Stock Options (1998 Stock Incentive Plan) 9.02 Common Stock, par value $.01 per share 22739 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2002-03-12 2012-03-12 Common Stock, par value $.01 per share 194 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2002-04-01 2012-03-12 Common Stock, par value $.01 per share 291 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2003-04-01 2012-03-12 Common Stock, par value $.01 per share 485 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2004-04-01 2012-03-12 Common Stock, par value $.01 per share 485 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2005-04-01 2012-03-12 Common Stock, par value $.01 per share 484 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2003-03-12 2012-03-12 Common Stock, par value $.01 per share 685 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2004-03-12 2012-03-12 Common Stock, par value $.01 per share 1028 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2005-03-12 2012-03-12 Common Stock, par value $.01 per share 1713 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2006-03-12 2012-03-12 Common Stock, par value $.01 per share 1713 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2007-03-12 2012-03-12 Common Stock, par value $.01 per share 1713 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2004-12-12 2013-12-12 Common Stock, par value $.01 per share 663 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2005-12-12 2013-12-12 Common Stock, par value $.01 per share 995 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2006-12-12 2013-12-12 Common Stock, par value $.01 per share 1659 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2007-12-12 2013-12-12 Common Stock, par value $.01 per share 1658 D Stock Options (2000 Employee Stock Incentive Plan) 36.94 2008-12-12 2013-12-12 Common Stock, par value $.01 per share 1658 D Restricted Stock Units (2000 Employee Stock Incentive Plan) 2006-12-12 Common Stock, par value $.01 per share 553 D Restricted Stock Units (2000 Employee Stock Incentive Plan) 2007-12-12 Common Stock, par value $.01 per share 553 D Restricted Stock Units (2000 Employee Stock Incentive Plan) 2008-12-12 Common Stock, par value $.01 per share 553 D While all of these options are fully vested, they only become exercisable (i) upon the occurrence of an exit event (as defined in the 1998 Stock Incentive Plan) and (ii) if certain specified thresholds are met. If an exit event occurs but the specified threshold is not met, the options are cancelled. These derivative securities are restricted stock units and accordingly, do not have an expiration date or exercise price. All share information gives effect to the reclassification of the Issuer's class A common stock, par value $.01 per share, as common stock, par value $.01 per share (the "Common Stock"), which reclassification will take place simultaneously with the consummation of the initial public offering of the Common Stock (the "IPO"). /s/ Lisa R. Hood 2005-02-03