REGENERON PHARMACEUTICALS, INC. — Director's Dealing 2012

Feb 23, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: REGENERON PHARMACEUTICALS INC (REGN)
CIK: 0000872589
Period of Report: 2012-02-21

Reporting Person: Powchik Peter (SVP Clinical Development & Reg)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-21	Common Stock	M	49428	$15.64	Acquired	64572	Direct
2012-02-21	Common Stock	F	7705	$100.32	Disposed	56867	Direct
2012-02-21	Common Stock	F	18530	$100.32	Disposed	38337	Direct
2012-02-21	Common Stock	M	20000	$20.32	Acquired	58337	Direct
2012-02-21	Common Stock	F	4050	$100.32	Disposed	54287	Direct
2012-02-21	Common Stock	F	7347	$100.32	Disposed	46940	Direct
2012-02-21	Common Stock	M	25438	$21.92	Acquired	72378	Direct
2012-02-21	Common Stock	F	5558	$100.32	Disposed	66820	Direct
2012-02-21	Common Stock	F	9158	$100.32	Disposed	57662	Direct
2012-02-21	Common Stock	M	15000	$16.8	Acquired	72662	Direct
2012-02-21	Common Stock	F	2511	$100.32	Disposed	70151	Direct
2012-02-21	Common Stock	F	5753	$100.32	Disposed	64398	Direct
2012-02-22	Common Stock	S	4200	$94.71	Disposed	60198	Direct
2012-02-22	Common Stock	S	10800	$95.46	Disposed	49398	Direct
2012-02-22	Common Stock	S	23454	$96.45	Disposed	25944	Direct
2012-02-22	Common Stock	S	9600	$97.58	Disposed	16344	Direct
2012-02-22	Common Stock	S	1200	$98.05	Disposed	15144	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-21	Non-Qualified Stock Option (right to buy)	$15.64	M	49428	Disposed	2016-10-02	Common Stock (49428)	Direct
2012-02-21	Non-Qualified Stock Option (right to buy)	$16.8	M	15000	Disposed	2018-12-17	Common Stock (15000)	Direct
2012-02-21	Non-Qualified Stock Option (right to buy)	$20.32	M	20000	Disposed	2016-12-18	Common Stock (20000)	Direct
2012-02-21	Non-Qualified Stock Option (right to buy)	$21.92	M	25438	Disposed	2017-12-17	Common Stock (25438)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1532	Indirect

Footnotes

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

F2: Represents volume-weighted average price of sales of 4,200 shares of Company stock on February 22, 2012 at prices ranging from $94.22 to $94.98. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 22, 2012 at each separate price.

F3: Represents volume-weighted average price of sales of 10,800 shares of Company stock on February 22, 2012 at prices ranging from $95.00 to $95.99. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 22, 2012 at each separate price.

F4: Represents volume-weighted average price of sales of 23,454 shares of Company stock on February 22, 2012 at prices ranging from $96.00 to $96.98. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 22, 2012 at each separate price.

F5: Represents volume-weighted average price of sales of 9,600 shares of Company stock on February 22, 2012 at prices ranging from $97.00 to $97.97. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 22, 2012 at each separate price.

F6: Represents volume-weighted average price of sales of 1,200 shares of Company stock on February 22, 2012 at prices ranging from $98.01 to $98.27. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 22, 2012 at each separate price.

F7: The stock option award (combined incentive stock option and non-qualified stock option) vests in four equal annual installments, commencing one year after the date of grant.

F8: Exercisable date, exercise date, exercise price, purchase price, sales price, and/or expiration date is/are not applicable in this case.

F9: The stock option award vests in four equal annual installments, commencing one year after the date of grant.