Emergent BioSolutions Inc. — Director's Dealing 2014

May 23, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Emergent BioSolutions Inc. (EBS)
CIK: 0001367644
Period of Report: 2014-05-22

Reporting Person: SULLIVAN LOUIS W (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-22	Common Stock	A	4700	—	Acquired	19100	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-22	Director Stock Option (right to buy)	$20.44	A	9400	Acquired	2021-05-21	Common Stock (9400)	Direct

Footnotes

F1: Consists of restricted stock units granted under the Third Amended and Restated Emergent BioSolutions Inc. 2006 Stock Incentive Plan.

F2: These restricted stock units vest in three equal annual installments beginning on the first anniversary of the date of grant, assuming continued service with the company or, if the Company's Annual Meeting of Stockholders occurs prior to such date for any year, on the day prior to such year's Annual Meeting of Stockholders. Each restricted stock unit represents the right of the Reporting Person to receive one share of common stock of Emergent BioSolutions Inc., subject to adjustment as provided in the grant agreement.

F3: The option will vest in three equal annual installments beginning on the first anniversary of the date of grant, assuming continued service with the company or, if the Company's Annual Meeting of Stockholders occurs prior to such date for any year, on the day prior to such year's Annual Meeting of Stockholders.