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*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 03/15/2010 |
3. Issuer Name and Ticker or Trading Symbol
TITAN PHARMACEUTICALS INC [ TTNP:PK ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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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, $0.001 par value per share | 65,500(1) | D | |
Common Stock, $0.001 par value per share | 225,757 | I | By Family Trust(2) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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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) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Option to Purchase Common Stock | 01/08/2001 | 01/08/2011 | Common Stock | 42,000 | $22.98 | D | |
Option to Purchase Common Stock | 08/09/2001 | 08/09/2011 | Common Stock | 31,500 | $11.63 | D | |
Option to Purchase Common Stock | 01/16/2002 | 01/16/2012 | Common Stock | 90,000 | $8.77 | D | |
Option to Purchase Common Stock | 03/01/2003 | 03/01/2013 | Common Stock | 50,000 | $1.5 | D | |
Option to Purchase Common Stock | 02/09/2004 | 02/09/2014 | Common Stock | 60,000 | $3.69 | D | |
Option to Purchase Common Stock | 02/07/2005 | 02/07/2015 | Common Stock | 70,000 | $2.62 | D | |
Option to Purchase Common Stock | 01/03/2006 | 01/03/2016 | Common Stock | 80,137 | $1.4 | D | |
Option to Purchase Common Stock | 08/29/2006 | 08/29/2016 | Common Stock | 11,250 | $2.35 | D | |
Option to Purchase Common Stock | 01/03/2007 | 01/03/2017 | Common Stock | 76,666 | $3.13 | D | |
Option to Purchase Common Stock | 05/30/2008 | 05/30/2018 | Common Stock | 5,000 | $1.52 | D | |
Option to Purchase Common Stock | 05/17/2009 | 05/17/2019 | Common Stock | 100,000 | $0.79 | D | |
Option to Purchase Common Stock | (3) | 05/17/2019 | Common Stock | 700,000 | $0.79 | D | |
Option to Purchase Common Stock | (4) | 05/17/2019 | Common Stock | 10,000 | $0.79 | D |
Explanation of Responses: |
1. Does not include 10,000 shares of common stock beneficially owned by the reporting person's adult son. |
2. The reporting person is the trustee of a family trust owning the indicated shares. |
3. 175,000 options were fully vested on May 17, 2009 with the balance of the options vesting in 48 equal monthly installments beginning on May 17, 2009 with the vesting of 100,000 shares contingent upon the sale or partnering of Titan Pharmaceuticals, Inc.'s Probuphine program. |
4. These options vest in 12 equal monthly installments beginning on May 17, 2009. |
/s/ Sunil Bhonsle | 03/15/2010 | |
** 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. | ||
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. |