U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/ / Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See
Instruction 1(b).
Filed pursuant to Section 16(a) of the Securities Exchange Act of
1934, Section 17(a) of the Public Utility Holding Company Act of
1935 or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person (If the form is filed
by more than one reporting person, see Instruction 4(b)(v).)
Wiswell, Thomas E.
(Last) (First) (Middle)
234 Cuylers Lane
(Street)
Haverford, PA 19041
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Discovery Laboratories, Inc. (Discovery)
DSCO
3. IRS or Social Security Number of Reporting Person
(Voluntary)
4. Statement for
(Month/Year)
03/2000
5. If Amendment, Date of Original
(Month/Year)
6. Relationship of Reporting Person to Issuer
(Check all applicable)
Director 10% Owner
-------- -------
X Officer (give title Other (specify
-------- below) ------- below)
Chief Executive Officer
7. 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 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
Security action action or Disposed of (D) Securities Form: Indirect
(Instr.3) Date Code (Instr. 3, 4 and 5) Beneficial- Direct (D) Beneficial
(Month/ (Instr.8) ly Owned at or Ownership
Date/ --------------------------------------- End of Indirect
Year) Code V Amount (A) Price Month (I) (Instr. 4)
or
(D) (Inst. 3 (Instr. 4)
and 4)
- --------------------------------------------------------------------------------------------------------------------------
Common Stock 03/06/00 M 31,200 A $0.1923
- --------------------------------------------------------------------------------------------------------------------------
Common Stock 03/06/00 M 20,000 A $3.00
- --------------------------------------------------------------------------------------------------------------------------
Common Stock 03/06/00 M 3,900 A $0.1923
- --------------------------------------------------------------------------------------------------------------------------
Common Stock 03/06/00 M 22,500 A $1.38
- --------------------------------------------------------------------------------------------------------------------------
Common Stock 03/06/00 F 9,426 D $10.378 (1) 83,744 D
- --------------------------------------------------------------------------------------------------------------------------
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TABLE II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of 2. Conver- 3. Trans- 4. Transaction 5. Number of Deriv- 6. Date Exercisable and
Derivative sion or action Code ative Securities Expiration Date
Security Exercise Date Acquired (A) or (Month/Day/Year)
(Instr. 3) Price of (Instr. 8) Disposed of (D)
Deri- (Month/
vative Day/ (Instr. 3, 4,
Security Year) and 5)
-----------------------------------------------------------------------
Code V (A) (D) Date Exer- Expiration
cisable Date
- --------------------------------------------------------------------------------------------------------------------
Employee stock $0.1923 03/06/00 M 31,200 Immediately 06/02/07
option (right
to purchase)
- --------------------------------------------------------------------------------------------------------------------
Employee stock $3.00 03/06/00 M 20,000 Immediately 01/01/09
option (right (2)
to purchase)
- --------------------------------------------------------------------------------------------------------------------
Employee stock $0.1923 03/06/00 M 3,900 Immediately 04/17/07
option (right
to purchase)
- --------------------------------------------------------------------------------------------------------------------
Employee stock $1.38 03/06/00 M 22,500 Immediately 09/30/09
option (right (2)
to purchase)
- --------------------------------------------------------------------------------------------------------------------
(2) The remaining shares subject to the option are subject to repurchase by
Discovery upon the occurrence of certain events relating to the market price of
the common stock of Discovery, the failure of Discovery to enter into certain
collaboration agreements or a sale or merger of Discovery.
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1. Title of 7. Title and Amount of 8. Price of 9. Number of 10. Ownership 11. Nature of
Derivative Underlying Securities Derivative Derivative Form of Deri- Indirect Bene-
Security (Instr.3 and 4) Security Securities vative Sec- ficial Owner-
(Instr. 3) ------------------------------ Beneficially urity: Direct ship (Instr.
Title Amount or (Instr. 5) Owned at End (D) or 4)
Number of of Month Indirect (I)
Shares (Instr. 4)
(Instr. 4)
- -------------------------------------------------------------------------------------------------------------------------------
Employee Common Stock, 62,400 15,600 D
stock option par value
(right to $.001 per
purchase) share
- -------------------------------------------------------------------------------------------------------------------------------
Employee Common Stock, 40,000 20,000 D
stock option par value
(right to $.001 per
purchase) share
- -------------------------------------------------------------------------------------------------------------------------------
Employee Common Stock, 3,900 0 D
stock option par value
(right to $.001 per
purchase) share
- -------------------------------------------------------------------------------------------------------------------------------
Employee Common Stock, 45,000 22,500 D
stock option par value
(right to $.001 per
purchase) share
Explanation of Responses:
By: s/ Thomas Wiswell May 25, 2000
**Signature of Reporting Person Date
** 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 provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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