OPKO Health Inc. — Director's Dealing 2014

Mar 12, 2014

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: December 31, 2014 Estimated average burden hours per response. . . . 0.5

==> picture [678 x 379] intentionally omitted <==

----- Start of picture text -----

1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)Paganelli John A OPKO Health, Inc. (OPK) Director 10% Owner(Last) (First) (Middle) 3. Date of Earliest Transaction (MM/DD/YYYY) Officer Other(give title below) (specify below)1250 Pittsford-Victor Road Building 200 - Suite 280 03/10/2014(Street) 4. If Amendment, Date Original Filed (MM/DD/YYYY) 6. Individual or Joint/Group Filing (Check Applicable Line)Form filed by One Reporting PersonPittsford NY 14534Form filed by More than One Reporting Person(City) (State) (Zip)Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned1. Title of Security 2. Transaction 2A. Deemed 3. Transaction 4. Securities Acquired (A) or Disposed of (D) 5. Amount of 6. Ownership 7. Nature of Indirect(Instr 3.) Date Execution Code (Instr. 3, 4 and 5) Securities Form: Beneficial(MM/DD/YYYY) Date, if any (Instr. 8) Beneficially Direct (D) Ownership(MM/DD/YYYY) Owned or (Instr. 4)Following Indirect (I)Reported (Instr. 4)Transactions(Instr. 3 andCode V Amount (A) or (D) Price 4)Common Stock 03/10/2014 M 10000 A $0.89 235399 DCommon Stock 03/10/2014 M 5000 A $0.71 240399 DCommon Stock 03/10/2014 M 5000 A $0.67 245399 DCommon Stock 03/10/2014 M 5000 A $0.32 250399 DCommon Stock 03/10/2014 M 5000 A $0.40 255399 DCommon Stock 03/10/2014 M 5000 A $0.42 260399 DCommon Stock 03/10/2014 M 5000 A $0.45 265399 DCommon Stock 03/10/2014 M 15000 A $4.88 280399 DCommon Stock 03/10/2014 M 25000 A $4.15 305399 DCommon Stock 03/10/2014 M 20000 A $1.78 325399 DCommon Stock 03/10/2014 F 25574 (1) D $9.24 (2) 299825 D----- End of picture text -----

FORM 4 (continued)

==> picture [714 x 399] intentionally omitted <==

----- Start of picture text ----- Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)1. 2. 3. 3A. 4. 5. 6. 7. 8. 9. 10. 11.Title of Derivative Security Conversion Transaction Deemed Transaction Number of Date Exercisable and Title and Amount Price of Number of Ownership Nature of(Instr.3) or Date Execution Date Code Derivative Expiration Date of Underlying Derivative Derivative Form of IndirectExercise (MM/DD/YYYY) (MM/DD/YYYY) (Instr. 8) Securities (MM/DD/YYYY) Securities Security Securities Derivative BeneficialPrice of Acquired (Instr. 3 and 4) (Instr. 5) Beneficially Securities: OwnershipDerivative (A) or Owned Direct (D) (Instr. 4)Security Disposed Following orof (D) Reported Indirect (I)(Instr. 3, 4 Transaction(s) (Instr. 4)and 5) (Instr. 4)Amountor(A) Numberor Exercisable Expiration ofCode V Amount (D) Date Date Title SharesStock Option (Right to Buy) $0.89 03/10/2014 M 10000 D 05/27/2004 05/27/2014 Common 10000 $0.00 0 DStockStock Option (Right to Buy) $0.71 03/10/2014 M 5000 D 07/02/2004 07/02/2014 Common 5000 $0.00 0 DStockStock Option (Right to Buy) $0.67 03/10/2014 M 5000 D 10/01/2004 10/01/2014 Common 5000 $0.00 0 DStockStock Option (Right to Buy) $0.32 03/10/2014 M 5000 D 01/03/2005 01/03/2015 Common 5000 $0.00 0 DStockStock Option (Right to Buy) $0.40 03/10/2014 M 5000 D 04/01/2005 04/01/2015 Common 5000 $0.00 0 DStockStock Option (Right to Buy) $0.42 03/10/2014 M 5000 D 07/01/2005 07/01/2015 Common 5000 $0.00 0 DStockStock Option (Right to Buy) $0.45 03/10/2014 M 5000 D 10/03/2005 10/03/2015 Common 5000 $0.00 0 DStockStock Option (Right to Buy) $4.88 03/10/2014 M 15000 D 05/03/2007 05/03/2014 Common 15000 $0.00 0 DStockStock Option (Right to Buy) $4.15 03/10/2014 M 25000 D 09/19/2008 09/19/2014 Common 25000 $0.00 0 DStockStock Option (Right to Buy) $1.78 03/10/2014 M 20000 D 08/01/2009 08/01/2015 Common 20000 $0.00 0 DStock----- End of picture text -----

Explanation of Responses: See attached footnotes page.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

• If the form is filed by more than one reporting person, see Instruction 4(b)(v).

• ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Adam Logal, Attorney-in-Fact	3/11/2014
___________________________________**Signature of Reporting Person	______Date

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

FORM 4 (continued)

Explanation of Responses

• (1) Represents number of shares withheld by the Company at the direction of the reporting person for the payment of exercise price. No shares of Common Stock were sold by the reporting person in connection with this transaction. The reporting person has retained the net number of shares issued upon the exercise of the option (74,426 shares).

• (2) Closing market price of the Company's common stock on the transaction date.