| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
|
|||||||||||||||
| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
|
2. Issuer Name and Ticker or Trading Symbol
NOVEN PHARMACEUTICALS INC [ NOVN ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|
||||||||||||||||||||||||
|
3. Date of Earliest Transaction
(Month/Day/Year) 03/14/2008 | ||||||||||||||||||||||||||
|
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
|
| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Noven Pharmaceuticals Inc. | 03/14/2008 | P | 251,700 | A | $9.652 | 3,611,308 | I | See Footnote #1(1) | ||
| Noven Pharmaceuticals Inc. | 03/25/2008 | P | 10,250 | D | $10.95 | 3,601,058 | I | See Footnote #2(2) | ||
|
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
| ||||||||||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
| ||||||||||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
| ||||||||||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
|
| Explanation of Responses: |
| 1. The reported persons may be deemed beneficial owners of the shares reported because West Coast Asset Management, Inc. (WCAM) has the power to vote the shares pursuant to investor advisor agreements with the record owners. By virtue of their positions as member of the Investment Committee of WCAM who exercise shared voting and investment power over the shares, IC members may be deemed indirect beneficial owners, but each disclaims such beneficial ownership except to the extent of his pecuniary interest therein. Of the 3,611,308 shares reported herein, 747,530 shares are held in trust accounts, 176,350 shares are held in IRA accounts, 642,350 shares are held in Foundation accounts, 20,998 shares are held in corporate accounts, 942,800 shares are held in high net worth individuals' accounts, 952,000 shares are held in LLC accounts, 76,505 shares are held in LP accounts, and 52,775 shares are held in profit sharing accounts (managed by WCAM). |
| 2. The reported persons may be deemed beneficial owners of the shares reported because West Coast Asset Management, Inc. (WCAM) has the power to vote the shares pursuant to investor advisor agreements with the record owners. By virtue of their positions as member of the Investment Committee of WCAM who exercise shared voting and investment power over the shares, IC members may be deemed indirect beneficial owners, but each disclaims such beneficial ownership except to the extent of his pecuniary interest therein. Of the 3,601,058 shares reported herein, 746,630 shares are held in trust accounts, 176,350 shares are held in IRA accounts, 642,350 shares are held in Foundation accounts, 20,998 shares are held in corporate accounts, 938,700 shares are held in high net worth individuals' accounts, 945,400 shares are held in LLC accounts, 76,505 shares are held in LP accounts, and 54,125 shares are held in profit sharing accounts (managed by WCAM). |
| Linda Schuman as Attorney In Fact | 03/28/2008 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||