X0303 4 2008-06-19 0 0000882104 PDL BIOPHARMA, INC. PDLI 0001390798 McCamish Mark Anthony C/O PDL BIOPHARMA, INC. 1400 SEAPORT BLVD REDWOOD CITY CA 94063 0 1 0 0 SVP & CMO Common Stock 2008-06-19 4 A 0 10000 0 A 17862 D Shares are subject to forfeiture and would vest in full upon the earlier of the record date for (1) the distribution of shares in the planned spin-off transaction, or (2) the distribution of proceeds from a sale or securitization of a portion or all of the company?s antibody humanization patent royalty stream. If these shares do not vest by 12/31/2008, all of these shares will be forfeited. /s/ Francis Sarena, Attorney-in-Fact for Mark McCamish 2008-06-23