Emergent BioSolutions Inc. — Director's Dealing 2017

Mar 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Emergent BioSolutions Inc. (EBS)
CIK: 0001367644
Period of Report: 2017-02-28

Reporting Person: Kramer Robert (EVP, Corproate Services Div)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-01	Common Stock	J	1672	—	Acquired	70000	Direct
2016-08-01	Common Stock	J	1061	—	Acquired	71061	Direct
2016-08-01	Common Stock	J	1425	—	Acquired	72486	Direct
2017-02-28	Common Stock	A	8161	$0.00	Acquired	80647	Direct
2017-02-28	Common Stock	A	8162	$0.00	Acquired	88809	Direct
2017-02-28	Common Stock	F	1799	$30.63	Disposed	87010	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-01	Employee Stock Option (Right to buy)	$25.62	J	1672	Acquired	2021-03-10	Common Stock (1672)	Direct
2016-08-01	Employee Stock Option (Right to buy)	$26.45	J	2121	Acquired	2022-03-09	Common Stock (2847)	Direct
2016-08-01	Employee Stock Option (Right to buy)	$30.86	J	2847	Acquired	2023-02-28	Common Stock (2847)	Direct
2017-02-28	Employee Stock Option (Right to buy)	$30.63	A	32638	Acquired	2024-02-27	Common Stock (32638)	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 March 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 March 2017 and March 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 March 2017, March 2018 and March 2019.

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

F5: Consists of performance stock units granted under the Amended and Restated 2006 Emergent BioSolutions Inc. Stock Incentive Plan, as amended. Each PSU represents a right to receive one share of common stock. The PSUs vest upon achievement with respect to net income as a percentage of total revenue for the 2019 fiscal year, each as determined in accordance with GAAP, as certified by the Compensation Committee following the performance period.

F6: The option grant vests in three equal installments on the day prior to the first, second and third anniversary dates of the grant.

F7: Consists of an option granted on 03/11/2014 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.

F8: Consists of an option granted on 03/10/2015 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.

F9: Consists of an option granted on 03/01/2016 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.