REGENERON PHARMACEUTICALS, INC. — Director's Dealing 2011

Dec 20, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: REGENERON PHARMACEUTICALS INC (REGN)
CIK: 0000872589
Period of Report: 2008-12-17

Reporting Person: SCHLEIFER LEONARD S (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-16	Common Stock	M	250000	$28.01	Acquired	343992	Direct
2011-12-16	Common Stock	F	134585	$52.03	Disposed	209407	Direct
2011-12-16	Common Stock	F	53344	$52.03	Disposed	156063	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-12-17	Non-Qualified Stock Option (right to buy)	$16.8	A	187500	Acquired	2018-12-17	Common Stock (187500)	Direct
2011-12-16	Non-Qualified Stock Option (right to buy)	$28.01	M	250000	Disposed	2011-12-18	Common Stock (250000)	Direct
2011-12-16	Non-Qualified Stock Option (right to buy)	$52.03	A	160000	Acquired	2021-12-16	Common Stock (160000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	84773	Indirect
Common Stock	5416	Indirect

Footnotes

F1: Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c).

F2: On December 17, 2008, the reporting person was granted an option to purchase 187,500 shares of Common Stock. The option vests, partially or in full, on December 31, 2011, based on the extent to which the company satisfies certain performance criteria during the period ending December 31, 2011. The performance criteria have been met and the option will vest as to all 187,500 shares on December 31, 2011.

F3: Exercisable date, exercise date, exercise price, purchase price, sales price, and/or expiration date is/are not applicable in this case.

F4: The stock option award vests in four equal annual installments, commencing one year after the date of grant.