X0304 4 2012-01-03 0 0000861838 IDERA PHARMACEUTICALS, INC. IDRA 0001085605 AGRAWAL SUDHIR C/O IDERA PHARMACEUTICALS, INC. 167 SIDNEY STREET CAMBRIDGE MA 02139 1 1 0 0 Chairman, CEO & President Stock Option (Right to Buy) 1.16 2012-01-03 4 A 0 8750 0.00 A 2021-11-28 Common Stock 8750 8750 D Stock Option (Right to Buy) 1.16 2012-01-03 4 A 0 8750 0.00 A 2012-11-28 2021-11-28 Common Stock 8750 8750 D The various numbers listed in Columns 5, 7 and 9 relate to a single option grant which entitled the reporting person to purchase up to an aggregate of 35,000 shares of the issuer's common stock. The option to purchase the remaining 17,500 shares of the issuer's common stock is subject to satisfaction of performance-based vesting criteria. The option vests over four years in 16 equal quarterly installments beginning on February 28, 2012. /s/ Sudhir Agrawal 2012-01-04