X0303 4 2011-01-28 0 0001040416 INSPIRE PHARMACEUTICALS INC ISPH 0001230708 STAAB THOMAS R II C/O INSPIRE PHARMACEUTICALS, INC. 8081 ARCO CORPORATE DRIVE, SUITE 400 RALEIGH NC 27617 0 1 0 0 EVP, CFO & Treasurer Restricted Stock Units 2011-01-28 4 A 0 29046 0 A Common Stock 29046 29046 D Each Restricted Stock Unit represents a contingent right to receive one share of the common stock of Inspire Pharmaceuticals, Inc. The shares will be delivered following the end of the scheduled vesting date or 60 days following an earlier vesting date that occurs as a result of the grantee's separation from service. Shall vest as follows: 25% on June 1, 2012; 25% on June 1, 2013; 25% on June 1, 2014 and 25% on June 1, 2015. /s/ Thomas R. Staab, II 2011-02-01