TPTX » Topics » C. Aggregate Option Exercises in Fiscal Year 2004 Year End Option Values

This excerpt taken from the TPTX DEF 14A filed May 17, 2005.

C.            Aggregate Option Exercises in Fiscal Year 2004 Year End Option Values

                The following table sets forth the number and value of unexercised options held by the Named Executive Officers as of December 31, 2004.


Number of
shares acquired
on exercise
Value ($)
Number of
at fiscal year
end #(1)
Value of
unexercised in-the-
money options at
fiscal year end ($)

Name Exercisable/

Marvin S. Hausman,   175,000   $ 845,000     562,500/   $ 769,875/  
M.D., Chairman & CEO (3)               362,500   $ 815,875  
Gosse B. Bruinsma,   215,000   $ 1,064,000     435,000/   $ 699,900/  
M.D., Pres. & COO (3)               290,000   $ 846,850  
S. Colin Neill, C.F.O           117,500/   $ 256,950/  
              142,500   $ 256,950  


The number of options granted for certain Executive Officers in 2003 have been adjusted to include options granted in 2003 under our 2000 Stock Option Plan which were contingent upon the January 1, 2004 increase in the number of shares reserved for issuance under the 2000 Stock Option Plan by 750,000 shares per the evergreen provision. The increase in options granted for each Executive Officer in 2003 due to this adjustment are as follows: Marvin S. Hausman, M.D. 125,000; Gosse B. Bruinsma, M.D. 100,000; S. Colin Neill 93,620.
Dollar amounts reflect the net values of outstanding stock options computed as the difference between $6.20 (the fair market value at December 31, 2004) and the exercise price of the options.
Dr. Bruinsma replaced Dr. Hausman as CEO effective March 3, 2005.
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