X0202 4 2007-01-24 0 0001167419 AspenBio Pharma, Inc. APNB 0001316244 Donnelly Richard G 2838 GARRETT DRIVE FORT COLLINS CO 80526 1 1 0 0 President & CEO Common Stock 2007-01-24 4 A 0 25000 2.96 A 261537 D Common Stock 5000 I By IRA Stock Options 0.6 2005-02-01 2015-02-01 Common Stock 500000 500000 D Warrants 1.35 2005-05-06 2010-05-06 Common Stock 28571 28571 D Warrants 1.35 2005-07-08 2010-07-08 Common Stock 28571 28571 D Stock Options 1.4 2007-01-23 4 D 0 25000 0 D 2007-01-01 2016-07-14 Common Stock 75000 75000 D Stock Options 2.96 2007-01-24 4 A 0 100000 0 A 2007-01-24 2017-01-24 Common Stock 100000 100000 D Options vest over three years, at the rate of 33.3% at the end of year one, 66.7% at the end of year two, and 100% at the end of year three. Options were granted pursuant to Board approval on July 14, 2006 and were exempt from Section 16(b) pursuant to Rule 16b-3(d). On January 23, 2007, Mr. Donnelly forfeited 25,000 options, which were returned to the Company. This transaction is exempt from Section 16(b) pursuant to Rule 16b-3(e). Options and shares of common stock were granted pursuant to Board approval on January 24, 2007. The aggregate number of stock options granted was 100,000. One-third (33,333) of the options vest each year for three years following the date of grant. This transaction is exempt from Section 16(b) pursuant to Rule 16b-3(d). /s/ Richard G. Donnelly 2007-01-25