X0303 4 2011-04-26 0 0000019411 MAGELLAN HEALTH SERVICES INC MGLN 0001245352 LERER RENE 55 NOD ROAD AVON CT 06001 1 1 0 0 Chief Executive Officer Ordinary Common Stock, $0.01 par value 2011-04-26 4 S 0 1850 50 D 62862 D Ordinary Common Stock, $0.01 par value 2011-04-26 4 S 0 1400 50.0168 D 61462 D This transaction was effectuated pursuant to a Rule10b-5-1 Plan. /s/ Rene Lerer 2011-04-28