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*
TURNBULL GREG

(Last) (First) (Middle)
123 SAGLNAW DRIVE

(Street)
REDWOOD CITY CA 94063

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
AP PHARMA INC /DE/ [ APPA ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
CEO, President & Interim CFO
3. Date of Earliest Transaction (Month/Day/Year)
05/28/2008
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 (Restricted Stock Award)(1) 05/28/2008 A 9,000 A $0.01 65,159 D
Common Stock 56,159 D
Common Stock(2) 175 I Spouse's IRA
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-Quaified Stock Option (Right to buy)(1) $1.68 05/28/2008 A 12,000 05/28/2009 05/28/2018 Common Stock 12,000 $1.68 12,000 D
Non-Quaified Stock Option (Right to buy) $1.54 01/18/2008 01/18/2018 Common Stock 100,000 100,000 D
Non-Quaified Stock Option (Right to buy) $3 05/23/2008 05/23/2017 Common Stock 2,500 2,500 D
Non-Quaified Stock Option (Right to buy) $4.6 04/09/2007 10/09/2016 Common Stock 16,250 16,250 D
Non-Quaified Stock Option (Right to buy) $4.84 05/28/2004 05/28/2013 Common Stock 2,500 2,500 D
Non-Quaified Stock Option (Right to buy) $6.4 05/25/2006 05/25/2015 Common Stock 2,500 2,500 D
Non-Quaified Stock Option (Right to buy) $6.96 05/31/2007 05/31/2016 Common Stock 2,500 2,500 D
Non-Quaified Stock Option (Right to buy) $9.36 05/22/2003 05/22/2012 Common Stock 2,500 2,500 D
Non-Quaified Stock Option (Right to buy) $11.756 05/25/2005 05/25/2014 Common Stock 2,500 2,500 D
Non-Quaified Stock Option (Right to buy) $11.8 05/09/2002 05/09/2011 Common Stock 2,500 2,500 D
Non-Quaified Stock Option (Right to buy) $14 07/31/2001 07/31/2010 Common Stock 2,500 2,500 D
Explanation of Responses:
1. Vests 5/28/09, one year from date of grant 5/28/08
2. Open Market purchase to Spouse's IRA account
Calvin Reuter for Gregory Turnbull 05/30/2008
** 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.