SEC FORM 4

SEC Form 4

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

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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^*

BAUM WILLIAM H

(Last)

(First)

(Middle)

4955 DIRECTORS PLACE

(Street)

SAN DIEGO

92121

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
DIVERSA CORP [ DVSA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Exec Vice President,

3. Date of Earliest Transaction (Month/Day/Year)
05/04/2006

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/04/2006		M		300	A	$2.0164	198,436	D
Common Stock	05/04/2006		S		300	D	$11.02	198,136	D
Common Stock	05/04/2006		M		500	A	$2.0164	198,636	D
Common Stock	05/04/2006		S		500	D	$11.021	198,136	D
Common Stock	05/04/2006		M		100	A	$2.0164	198,236	D
Common Stock	05/04/2006		S		100	D	$11.04	198,136	D
Common Stock	05/04/2006		M		300	A	$2.0164	198,436	D
Common Stock	05/04/2006		S		300	D	$11.06	198,136	D
Common Stock	05/04/2006		M		100	A	$2.0164	198,236	D
Common Stock	05/04/2006		S		100	D	$11.07	198,136	D
Common Stock	05/04/2006		M		500	A	$2.0164	198,636	D
Common Stock	05/04/2006		S		500	D	$11.08	198,136	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (Right to Buy)	$0.5761	05/04/2006		M			6,509	01/07/2000	01/07/2009	Common Stock	6,509	$0	0	D
Employee Stock Option (Right to Buy)	$1.7284	05/04/2006		M			21,696	06/30/2000	06/30/2009	Common Stock	21,696	$0	0	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			12,523	10/26/2000	10/26/2009	Common Stock	12,523	$0	96,336	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			5,368	10/26/2000	10/26/2009	Common Stock	5,368	$0	90,968	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			5,400	10/26/2000	10/26/2009	Common Stock	5,400	$0	85,568	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			10,000	10/26/2000	10/26/2009	Common Stock	10,000	$0	75,568	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			4,100	10/26/2000	10/26/2009	Common Stock	4,100	$0	71,468	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			1,000	10/26/2000	10/26/2009	Common Stock	1,000	$0	70,468	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			1,553	10/26/2000	10/26/2009	Common Stock	1,553	$0	68,915	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			400	10/26/2000	10/26/2009	Common Stock	400	$0	68,515	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			384	10/26/2000	10/26/2009	Common Stock	384	$0	68,131	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			547	10/26/2000	10/26/2009	Common Stock	547	$0	67,584	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			584	10/26/2000	10/26/2009	Common Stock	584	$0	67,000	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			100	10/26/2000	10/26/2009	Common Stock	100	$0	66,900	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			100	10/26/2000	10/26/2009	Common Stock	100	$0	66,800	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			300	10/26/2000	10/26/2009	Common Stock	300	$0	66,500	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			500	10/26/2000	10/26/2009	Common Stock	500	$0	66,000	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			100	10/26/2000	10/26/2009	Common Stock	100	$0	65,900	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			300	10/26/2000	10/26/2009	Common Stock	300	$0	65,600	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			100	10/26/2000	10/26/2009	Common Stock	100	$0	65,500	D
Employee Stock Option (Right to Buy)	$2.0164	05/04/2006		M			500	10/26/2000	10/26/2009	Common Stock	500	$0	65,000	D

Explanation of Responses:

	By: Martin A. Sabarsky, Attorney-in-Fact For: William H. Baum	05/08/2006
	** 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.