SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Kalnik Matthew W.

(Last)

(First)

(Middle)

7620 OLD GEORGETOWN ROAD, APT. 1014

(Street)

BETHESDA

20814

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2009

3. Issuer Name and Ticker or Trading Symbol
NABI BIOPHARMACEUTICALS [ NABI ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP Strategic Plan. & Bus. Ops

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	6,443.8218	D
Common Stock	9,375⁽¹⁾	D
Common Stock	7,200⁽²⁾	D
Common Stock	7,674	I	See footnote⁽³⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option (Right to Buy)	⁽⁴⁾	07/18/2014	Common Stock	25,000	$4.7	D
Stock Option (Right to Buy)	⁽⁵⁾	04/01/2015	Common Stock	18,000	$3.95	D

Explanation of Responses:

1. Restricted Stock which vests in four equal annual installments. The first installment vested on July 18, 2008. The remaining installments vest on July 18, 2009, July 18, 2010 and July 18, 2011.

2. Restricted Stock which vests in four equal annual installments beginning on April 1, 2009.

3. The reporting person indirectly beneficially owns and is voluntarily reporting 7,674 shares held by the Issuer's 401(k) Plan.

4. The Option will become exercisable in four equal annual installments. The first installment vested on July 18, 2008. The remaining installments vest on July 18, 2009, July 18, 2010 and July 18, 2011.

5. The Option will become exercisable in four equal annual installments beginning on April 1, 2009.

Remarks:

	/s/ James E. Dawson, as attorney-in-fact	03/27/2009
	** 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 5 (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.
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