X0202 4 2007-02-05 0001062613 FAIRPOINT COMMUNICATIONS INC FRP 0001315611 Johnson Eugene B C/O FAIRPOINT COMMUNICATIONS, INC. 521 E. MOREHEAD STREET, SUITE 250 CHARLOTTE NC 28202 0 1 0 0 Chairman of the Board and CEO Stock Options (1998 Stock Option Plan) 9.02 2007-02-05 4 J 0 226439 D Common Stock, par value $.01 226439 67863 D While all of these options were fully vested, they only became exercisable (i) upon the occurrence of an exit event (as defined in the 1998 Stock Incentive Plan) and (ii) if certain specified price thresholds were met. On February 5, 2007, an exit event occurred but the thresholds were not met and accordingly these options were cancelled in accordance with the terms of the 1998 Stock Incentive Plan. No consideration was paid or received by the Reporting Person. /S/ Eugene B. Johnson 2008-01-30