X0202 4 2004-11-11 0 0001033025 PRAECIS PHARMACEUTICALS INC PRCS 0001215549 GARNICK MARC B C/O PRAECIS PHARMACEUTICALS INC 830 WINTER ST WALTHAM MA 02451 0 1 0 0 EVP, Chief Med. & Reg. Officer Common Stock, par value $.01 per share 464298 D Common Stock, par value $.01 per share 35081 I By the Garnick Family 2003 Grantor Retained Annuity Trust Common Stock, par value $.01 per share 22112 I By the Garnick Family 1999 Grantor Retained Annuity Trust Stock Option (Right to Buy) 1.86 2004-11-11 4 A 0 70000 0 A 2004-12-11 2014-11-11 Common Stock, par value $.01 per share 70000 70000 D Reflects distributions for no consideration to Dr. Garnick in April 2004 of 3,158 shares by the Garnick Family 1999 Grantor Retained Annuity Trust and 919 shares by the Garnick Family 2003 Grantor Retained Annuity Trust for the purpose of meeting each GRAT's annuity payment obligation. The term of the option is ten years from the date of grant. These options vest and become exercisable in equal monthly installments over a three-year period. These options shall vest and become immediately exercisable in the event that the recipient is terminated without cause or leaves for good reason within a one-year period following a change of control of the Company. /s/ Marc B. Garnick 2004-11-15