Emergent BioSolutions Inc. — Director's Dealing 2015

May 14, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Emergent BioSolutions Inc. (EBS)
CIK: 0001367644
Period of Report: 2015-05-12

Reporting Person: Bailey Sue (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-12	Common Stock	M	5760	$8.43	Acquired	24860	Direct
2015-05-12	Common Stock	S	5760	$30.14	Disposed	19100	Direct
2015-05-12	Common Stock	M	6960	$8.76	Acquired	26060	Direct
2015-05-12	Common Stock	S	6960	$30.13	Disposed	19100	Direct
2015-05-12	Common Stock	M	5760	$11.67	Acquired	24860	Direct
2015-05-12	Common Stock	S	5760	$30.08	Disposed	19100	Direct
2015-05-12	Common Stock	M	1440	$16.13	Acquired	20540	Direct
2015-05-12	Common Stock	S	1440	$30.16	Disposed	19100	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-05-12	Stock Option	$8.43	M	5760	Disposed	2017-06-13	Common Stock (5760)	Direct
2015-05-12	Stock Option	$8.76	M	6960	Disposed	2018-05-20	Common Stock (6960)	Direct
2015-05-12	Stock Option	$11.67	M	5760	Disposed	2019-05-21	Common Stock (5760)	Direct
2015-05-12	Stock Option	$16.13	M	1440	Disposed	2010-05-20	Common Stock (5760)	Direct

Footnotes

F1: Consists of an option granted under the company's stock incentive plan on June 14, 2007.

F2: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.05 to $30.24, inclusive.

F3: Consists of an option granted under the company's stock incentive plan on May 21, 2008.

F4: Consists of an option granted under the company's stock incentive plan on May 21, 2009.

F5: Consists of an option granted under the company's stock incentive plan on May 20, 2010.

F6: All options vested in three equal installments on the anniversary date of the grant.