X0202 4 2006-09-22 0 0000716646 CLINICAL DATA INC clda 0001232018 STEIN ISRAEL M 17 EDGE HILL RD CHESTNUT HILL MA 02467 0 0 0 1 former director/officer Common stock 2006-09-22 4 F 0 15561 D 373670 D Common stock 2006-09-22 4 M 0 50000 A 423670 D Common stock 2006-09-22 4 M 0 12000 A 435670 D Common stock 2006-09-22 4 S 0 378 15 D 435292 D Options 3.4 2006-09-22 4 M 0 50000 0 D 2004-06-20 2006-12-31 Common stock 50000 74000 D Options 5.32 2006-09-22 4 M 0 12000 0 D 2006-05-09 2006-12-31 Common stock 12000 62000 D Common stock delivered for cashless exercise of 50,000 options at $3.40 and 12,000 options at $5.32. Fair Market Value of $15.026 per share based on 5 day trailing NASDAQ closing price average. Common stock acquired through cashless exercise of outstanding options. 11,313 common shares delivered and cash of $10.86 in lieu of fractional shares. Common stock acquired through cashless exercise of outstanding options. 4,248 common shares delivered and cash of $9.55 in lieu of fractional shares. Reporting person owns 50,000 options exercisable at $17.89 and 12,000 exercisable at $23.47. /s/ Israel M. Stein 2006-09-25