X0202 4 2005-07-05 0 0000737207 NASTECH PHARMACEUTICAL CO INC NSTK 0001008227 QUAY STEVEN C 3450 MONTE VILLA PARKWAY BOTHELL WA 98021 1 1 0 0 Chairman, President and CEO Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 M 0 106719 4.09 A 300000 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 M 0 200000 12.00 A 500000 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 200000 14.00 D 300000 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 900 14.05 D 299100 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 384 14.06 D 298716 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 5000 14.07 D 293716 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 5000 14.15 D 288716 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 6781 14.20 D 281935 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 237 14.24 D 281698 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 1400 14.25 D 280298 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 500 14.26 D 279798 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 100 14.27 D 279698 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 200 14.28 D 279498 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 5463 14.30 D 274035 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 1100 14.31 D 272935 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 100 14.32 D 272835 D Nastech Pharmaceutical Co. Common Stock 2005-07-05 4 S 0 4835 14.35 D 268000 D Nastech Pharmaceutical Co. Common Stock 593940 I By K-Quay Enterprises LLC Nastech Pharmaceutical Stock Options 4.09 2005-07-05 4 X 0 106719 4.09 D 2003-08-07 2005-08-07 Common Stock 106719 1200000 D Nastech Pharmaceutical Stock Options 12.00 2005-07-05 4 X 0 200000 12.00 D 2003-08-07 2005-08-07 Common Stock 200000 1000000 D Shares owned by K-Quay Enterprises LLC, of which Dr. Steven C. Quay is the President. 106,719 options were exercised in a cashless transaction at $4.09 per share. 32,000 of the exercised shares were sold and 74,719 of the exercised shares were held after this transaction. The options were granted on August 8, 2000, the commencement date of Dr. Quay's employment, at an exercise price of $4.09 per share, the closing price reported on Nasdaq on August 7, 2000. The options had an expiration date of August 7, 2005. 200,000 options were exercised and sold in a cashless transaction at $12.00 per share. The options were granted on August 8, 2000, the commencement date of Dr. Quay's employment, at an exercise price of $12.00 per share. The options had an expiration date of August 7, 2005. /s/ Gregory L. Weaver Gregory L. Weaver Attorney in Fact 2005-07-07