X0202 4 2007-02-23 0 0001124105 TARGACEPT INC TRGT 0001296907 Jones Elaine V C/O TARGACEPT, INC. 200 EAST FIRST STREET, SUITE 300 WINSTON-SALEM NC 27101 1 0 0 0 Common Stock 2007-02-23 4 M 0 803 0.075 A 1510883 I By EuclidSR Partners, L.P. Common Stock 2007-02-23 4 M 0 197 0.075 A 371945 I By EuclidSR Biotechnology Partners, L.P. Stock Option (Right to Buy) 0.075 2007-02-23 4 M 0 803 0 D 2006-06-07 Common Stock 803 0 I By EuclidSR Partners L.P. Stock Option (Right to Buy) 0.075 2007-02-23 4 M 0 197 0 D 2006-06-07 Common Stock 197 0 I By EuclidSR Biotechnology Partners L.P. The reporting person is a general partner of EuclidSR Associates, L.P., the general partner of EuclidSR Partners, L.P. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein. The reporting person is a general partner of EuclidSR Biotechnology Associates, L.P., the general partner of EuclidSR Biotechnology Partners, L.P. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein. This stock option would have expired on the later of (1) the date that is two and one-half months following the end of the recipient's first taxable year during which the option vested, or (2) the date that is two and one-half months following the end of the issuer's taxable year in which the option vested, and in no event after March 15, 2007. /s/ Peter A. Zorn, Attorney-in-Fact 2007-02-27