X0303 4 2010-05-20 0 0000818033 AP PHARMA INC /DE/ APPA 0001178579 TANG KEVIN C 4401 EASTGATE MALL SAN DIEGO CA 92121 1 0 1 0 0001232621 TANG CAPITAL MANAGEMENT LLC 4401 EASTGATE MALL SAN DIEGO CA 92121 1 0 1 0 0001191935 TANG CAPITAL PARTNERS LP 4401 EASTGATE MALL SAN DIEGO CA 92121 1 0 1 0 Common Stock 2010-05-20 4 A 0 95891 0.00 A 138841 D Common Stock 286950 I As Trustee Common Stock 10436506 I By LP Vesting will occur in equal increments, 1/2 to vest in 6 months from the date of grant and the balances to vest on the day prior to the Company's next Annual Meeting. 42,950 of these securities are held by Kevin C. Tang's IRA. The securities are held by Kevin C. Tang as custodian for his minor children, as Trustee of the Tang Family Trust, and as Trustee of the Tang Advisors, LLC Profit Sharing Plan. The securities are held by Tang Capital Partners, LP. Kevin C. Tang is the sole manager of Tang Capital Management, LLC, which is the general partner of Tang Capital Partners, LP. Mr. Tang disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein. /s/ Kevin C. Tang 2010-05-26 /s/ Kevin C. Tang, Managing Member 2010-05-26 /s/ Kevin C. Tang, as Managing Member of Tang Capital Management, LLC, General Partner 2010-05-26