X0304 4 2012-02-16 0 0001196298 NEPHROS INC NEPH.OB 0001179697 AMRON ARTHUR H C/O WEXFORD CAPITAL LP 411 WEST PUTNAM AVENUE GREENWICH CT 06830 1 0 0 0 Non-qualified stock option (right to buy) 0.83 2012-02-16 4 A 0 10000 0.00 A 2022-02-16 Common Stock 10000 10000 D On February 16, 2012, the Company granted an option to purchase 10,000 shares of common stock of the Company (the "Option") in respect of the service by Mr. Amron as a member of the Board of Directors of the Company. The Option was granted under the Company's 2004 Stock Incentive Plan. At the request of Mr. Amron, the Option was granted to Wexford Capital LP. The Option vested immediately with respect to 3,334 shares on February 16, 2012. The remainder of the Option vests in an installment of 3,333 shares on each of the first and second anniversary of the grant date. Arthur H. Amron 2012-03-15