X0202 4 2006-07-16 0 0000882104 PDL BIOPHARMA, INC. PDLI 0001242117 BENNER STEVEN E C/O PDL BIOPHARMA, INC. 34801 CAMPUS DRIVE FREMONT CA 94555 0 1 0 0 SVP & Chief Med. Off. Common Stock 2006-07-16 4 F 0 1073 17.40 D 10927 D Represents the number of shares withheld by the issuer and canceled to satisfy tax withholding obligations of the reporting person that arose on July 13, 2006 in connection with the vesting of restricted shares of common stock. /s/ George Jue by George Jue, Attorney in Fact for Steven E. Benner 2006-07-18