X0303 4 2010-12-31 0 0001047699 KING PHARMACEUTICALS INC KG 0001354792 Elrod James W C/O KING PHARMACEUTICALS, INC. 501 FIFTH STREET BRISTOL TN 37620 0 1 0 0 Chief Legal Officer, A. Sec. Common Stock 2010-12-31 4 M 0 40940 0.00 A 207448 D Long-Term Performance Unit 2010-12-31 4 M 0 40940 0.00 D 2010-12-31 Common Stock 40940 0 D Long-Term Performance Unit 2011-01-18 4 A 0 19259 0.00 A 2012-12-31 Common Stock 19259 19259 D The amount of securities beneficially owned by the reporting person following this reported transaction includes securities owned as of January 20, 2011. The Long-Term Performance Units (One Year Performance Cycle) were awarded under the King Pharmaceuticals, Inc. Incentive Plan (the "Incentive Plan"). Each Long-Term Performance Unit represented a contingent right to receive one share of King Pharmaceuticals, Inc. common stock if the reporting person remained employed by King Pharmaceuticals, Inc. during the two-year vesting period that ended on December 31, 2010. The Long-Term Performance Units (One Year Performance Cycle) were awarded under the Incentive Plan. Each Long-Term Performance Unit represents a contingent right to receive one share of King Pharmaceuticals, Inc. common stock. The number of Long-Term Performance Units awarded was based on the achievement of certain 2010 annual earnings per share targets established by the Compensation and Human Resources Committee under the Incentive Plan in early 2010. The Long-Term Performance Units vest in full on December 31, 2012, or sooner under certain limited circumstances, contingent upon the reporting person's continued employment by King Pharmaceuticals, Inc. as of that date. /s/ James W. Elrod 2011-01-20