Emergent BioSolutions Inc. — Director's Dealing 2017

May 26, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Emergent BioSolutions Inc. (EBS)
CIK: 0001367644
Period of Report: 2017-05-25

Reporting Person: Harsanyi Zsolt (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-01	Common Stock	J	152	—	Acquired	34637	Direct
2016-08-01	Common Stock	J	604	—	Acquired	35241	Direct
2016-08-01	Common Stock	J	577	—	Acquired	35818	Direct
2017-05-25	Common Stock	A	8259	$0.00	Acquired	44077	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-01	Employee Stock Option (Right to buy)	$18.64	J	301	Acquired	2021-05-21	Common Stock (3434)	Direct

Footnotes

F1: In connection with the spin-off of Aptevo Therapeutics Inc. from Emergent BioSolutions Inc, on August 1, 2016 the reporting person received a grant of restricted stock units as a result of an adjustment to an existing Emergent restricted stock unit grant held by the reporting person prior to the spin-off. The restricted stock units vest in May 2017.

F2: In connection with the spin-off of Aptevo Therapeutics Inc. from Emergent BioSolutions Inc, on August 1, 2016 the reporting person received a grant of restricted stock units as a result of an adjustment to an existing Emergent restricted stock unit grant held by the reporting person prior to the spin-off. The restricted stock units vest in May 2017 and May 2018.

F3: In connection with the spin-off of Aptevo Therapeutics Inc. from Emergent BioSolutions Inc, on August 1, 2016 the reporting person received a grant of restricted stock units as a result of an adjustment to an existing Emergent restricted stock unit grant held by the reporting person prior to the spin-off. The restricted stock units vest in May 2017, May 2018 and May 2019.

F4: Consists of restricted stock units granted under the Fourth Amended and Restated Emergent BioSolutions Inc. 2006 Stock Incentive Plan.

F5: These restricted stock units vest in three equal annual installments beginning on the earlier of (i) the anniversary of the date of grant or (ii) one business day prior to date of the Company's next annual meeting; provided that the individual is serving on the Board on such date.

F6: Consists of an option granted on May 22, 2014 under the company's stock incentive plan as amended and restated. In connection with the spin-off on August 1, 2016, the reporting person received a grant of additional stock options as a result of an adjustment to preserve the pre-spin intrinsic value of an existing stock option grant. The adjustments included an adjustment to the stock option price of the grant.

F7: In connection with the spin-off (the "Spin-off") of Aptevo Therapeutics Inc. from Emergent BioSolutions Inc. ("Emergent"), on August 1, 2016 the reporting person received a grant of stock options as a result of an adjustment to an existing Emergent stock option grant held by the reporting person prior to the Spin-off. The stock options vest in May 2017.