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*
SMITH LONNIE M
(Last) (First) (Middle)
BIOSITE INCORPORATED
9975 SUMMERS RIDGE ROAD
(Street)
SAN DIEGO CA 92121
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BIOSITE INC [ BSTE ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/05/2007
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)
Code V Amount (A) or (D) Price
Common Stock 06/05/2007 M 6,400 A $11 7,969 D
Common Stock 06/05/2007 S 6,400 D $91.9725 1,569 D
Common Stock 06/05/2007 M 3,600 A $11 5,169 D
Common Stock 06/05/2007 S 3,600 D $91.97 1,569 D
Common Stock 06/05/2007 M 4,955 A $47.66 6,524 D
Common Stock 06/05/2007 S 4,955 D $91.97 1,569 D
Common Stock 06/05/2007 M 2,500 A $13.875 4,069 D
Common Stock 06/05/2007 S 2,500 D $91.97 1,569 D
Common Stock 06/05/2007 M 938 A $45.02 2,507 D
Common Stock 06/05/2007 S 938 D $91.97 1,569 D
Common Stock 06/05/2007 M 5,000 A $25.2 6,569 D
Common Stock 06/05/2007 S 5,000 D $91.97 1,569 D
Common Stock 06/05/2007 M 2,188 A $53.38 3,757 D
Common Stock 06/05/2007 S 2,188 D $91.97 1,569 D
Common Stock 06/05/2007 M 3,703 A $44.18 5,272 D
Common Stock 06/05/2007 S 3,703 D $91.97 1,569 D
Common Stock 06/05/2007 M 2,500 A $22.5 4,069 D
Common Stock 06/05/2007 S 2,500 D $91.97 1,569 D
Common Stock 06/05/2007 M 5,000 A $41.56 6,569 D
Common Stock 06/05/2007 S 5,000 D $91.97 1,569 D
Common Stock 06/05/2007 M 2,500 A $10 4,069 D
Common Stock 06/05/2007 S 2,500 D $91.97 1,569 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $10 06/05/2007 M 2,500 06/09/1999(1) 06/09/2009 Common Stock 2,500 $91.97 0 D
Non-Qualified Stock Option (right to buy) $11 06/05/2007 M 6,400 10/22/1997(1) 10/22/2007 Common Stock 6,400 $91.9725 3,600 D
Non-Qualified Stock Option (right to buy) $11 06/05/2007 M 3,600 10/22/1997(1) 10/22/2007 Common Stock 3,600 $91.97 0 D
Non-Qualified Stock Option (right to buy) $13.875 06/05/2007 M 2,500 05/21/1998(1) 05/21/2008 Common Stock 2,500 $91.97 0 D
Non-Qualified Stock Option (right to buy) $22.5 06/05/2007 M 2,500 05/31/2000(1) 05/31/2010 Common Stock 2,500 $91.97 0 D
Non-Qualified Stock Option (right to buy) $25.2 06/05/2007 M 5,000 06/14/2002(1) 06/14/2012 Common Stock 5,000 $91.97 0 D
Non-Qualified Stock Option (right to buy) $41.56 06/05/2007 M 5,000 06/14/2001(1) 06/14/2011 Common Stock 5,000 $91.97 0 D
Non-Qualified Stock Option (right to buy) $44.18 06/05/2007 M 3,703 06/18/2004(1) 06/18/2014 Common Stock 3,703 $91.97 1,297 D
Non-Qualified Stock Option (right to buy) $45.02 06/05/2007 M 938 11/01/2006(2) 11/01/2016 Common Stock 938 $91.97 4,062 D
Non-Qualified Stock Option (right to buy) $47.66 06/05/2007 M 4,955 06/18/2003(1) 06/18/2013 Common Stock 4,955 $91.97 45 D
Non-Qualified Stock Option (right to buy) $53.38 06/05/2007 M 2,188 06/17/2005(2) 06/17/2015 Common Stock 2,188 $91.97 2,812 D
Explanation of Responses:
1. Option vests daily over a four-year period commencing on the date of grant, except that no options are exercisable for the first six months after the date of grant.
2. Option vests in sixteen equal quarterly installments over four years (on each quarterly anniversary of the applicable vesting commencement date), provided that no shares may be exercised during the first six (6) month period following the commencement of vesting.
By: Robyn Shutak For: Lonnie Smith 06/05/2007
** 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.