X0303 4 2008-08-04 0000873364 CEPHALON INC CEPH 0001209725 GREBOW PETER E 41 MOORES RD. FRAZER PA 19355 0 1 0 0 Exec. VP, WW Technical Ops. Common Stock 2008-08-04 4 M 0 22926 48.20 A 74322 D Common Stock 2008-08-04 4 M 0 15000 48.06 A 89322 D Common Stock 2008-08-04 4 M 0 25000 51.08 A 114322 D Common Stock 2008-08-04 4 S 0 62926 73.59 D 51396 D Common Stock 2779 I by Trust Non-Qualified Stock Option 48.06 2008-08-04 4 M 0 15000 0 D 2008-12-16 2014-12-15 Common Stock 15000 2920 D Non-Qualified Stock Option 48.20 2008-08-04 4 M 0 20852 0 D 2007-12-17 2013-12-16 Common Stock 20852 0 D Non-Qualified Stock Option 51.08 2008-08-04 4 M 0 25000 0 D 2009-12-01 2015-11-30 Common Stock 25000 23043 D Incentive Stock Option 48.20 2008-08-04 4 M 0 2074 0 D 2007-12-17 2013-12-16 Common Stock 2074 0 D This price is a weighted average sale price. The prices at which the shares actually sold ranged from $73.43 to $73.75. The reporting person has provided to the issuer, and upon request will provide to any security holder of the issuer or to the SEC staff, information regarding the number of shares sold at each price within the range. Options vest 25% on each annual anniversary of grant and are fully vested 4 years from date of grant. Options expire ten years from date of grant. Carolyn S. Iosca, Attorney-in-Fact For: Peter E. Grebow 2008-08-05