ARROWHEAD PHARMACEUTICALS, INC. — Director's Dealing 2015

Mar 7, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROWHEAD RESEARCH CORP (ARWR)
CIK: 0000879407
Period of Report: 2015-03-04

Reporting Person: Anzalone Christopher Richard (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-03-04	Common Stock	A	360000	—	Acquired	620173	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-03-06	Stock Options	$7.75	A	300000	Acquired	2025-03-06	Common Stock (300000)	Direct

Footnotes

F1: Represents the maximum number of shares underlying a restricted stock unit that may be earned based on the achievement of certain predetermined performance goals related to the advancement of the Company's clinical programs and business development over three to five years. If the performance goals are not met within the required time periods, the award will be forfeited in part or in whole.

F2: Represents the maximum number of shares issuable pursuant to the stock option grant that vest based on the achievement of certain predetermined goals related to the advancement of the Company's clinical programs and business development over three to five years. If the performance goals are not met within the required time periods, the award will be forfeited in part or in whole.

F3: Vests and become exercisable over a three to five year period if performance goals are met.

F4: Stock option has a maximum ten year term, but may expire earlier if performance goals are not met.