X0202 4 2006-01-13 0000003116 AKORN INC AKN 0001213711 TREPPEL JERRY 2500 MILLBROOK DRIVE BUFFALO GROVE IL 60089 1 0 0 0 Common Stock 2006-01-13 4 C 0 381516 A 401516 D Common Stock 356974 I See Footnote 6 Series A Preferred Stock .75 2005-03-31 4 J 0 4036.00 A 2011-10-31 Common Stock 5381 273092.00 D Series A Preferred Stock .75 2005-06-30 4 J 0 4096.00 A 2011-10-31 Common Stock 5461 277188.00 D Series A Preferred Stock .75 2005-09-30 4 J 0 4157.00 A 2011-10-31 Common Stock 5543 281345.00 D Series A Preferred Stock .75 2005-12-31 4 J 0 4220.00 A 2011-10-31 Common Stock 5627 285565.00 D Series A Preferred Stock .75 2006-01-13 4 C 0 286137 D 2011-10-31 Common Stock 381516 0 D On January 13, 2006, the reporting person was issued 381,516 shares of Akorn Common Stock upon the automatic conversion of his 2,500 shares of Series A 6% Convertible Preferred Stock with a $100 per share stated value plus accrued and unpaid dividends of $36,137 at a conversion price equal to $0.75 per share of common stock. Subject to adjustment. Voluntary reporting of dividend resulting from existing Series A 6% Participating Convertible Preferred Stock ownership. Immediately Mandatory redemption on this date. Held indirectly through Wheaton Capital Management LLC, an entity of which Mr. Treppel is the managing member. Jerry I. Treppel 2006-02-10