X0205 3 2012-05-31 0 0001124105 TARGACEPT INC TRGT 0001551721 Toler Steven M. C/O TARGACEPT, INC. 200 EAST FIRST STREET, SUITE 300 WINSTON-SALEM NC 27101 0 1 0 0 VP, Trans Scnces & Emgng Opps Common Stock 1000 D Stock Option (Right to Buy) 8.99 2017-09-27 Common Stock 3000 D Stock Option (Right to Buy) 8.51 2017-12-18 Common Stock 525 D Stock Option (Right to Buy) 7.27 2018-06-29 Common Stock 3500 D Stock Option (Right to Buy) 2.93 2019-01-08 Common Stock 17000 D Stock Option (Right to Buy) 20.68 2020-01-18 Common Stock 15000 D Stock Option (Right to Buy) 26.05 2021-03-28 Common Stock 25625 D Stock Option (Right to Buy) 4.59 2022-05-03 Common Stock 75000 D This option vested in installments and became vested and exercisable in full on September 30, 2011. This option vested in installments and became vested and exercisable in full on September 30, 2011. This option vested 25% on June 30, 2009 and thereafter vested (vests) in equal installments on the last day of 12 consecutive calendar quarters beginning with September 30, 2009. This option vested (vests) in equal installments on the last day of 16 consecutive calendar quarters beginning with March 31, 2009. This option vested (vests) in equal installments on the last day of 16 consecutive calendar quarters beginning with March 31, 2010. This option vested (vests) in equal installments on the last day of 16 consecutive calendar quarters beginning with March 31, 2011. This option vests in equal installments on the last day of 16 consecutive calendar quarters beginning with June 30, 2012. /s/ Peter A. Zorn, Attorney-in-Fact for Steven M. Toler 2012-06-11