REGENERON PHARMACEUTICALS, INC. — Director's Dealing 2014

Mar 25, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: REGENERON PHARMACEUTICALS INC (REGN)
CIK: 0000872589
Period of Report: 2014-03-24

Reporting Person: BAKER CHARLES A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-24	Common Stock	M	15000.0	$23.84	Acquired	24000	Direct
2014-03-24	Common Stock	S	10200.0	$300.09	Disposed	13800	Direct
2014-03-24	Common Stock	S	700.0	$301.12	Disposed	13100	Direct
2014-03-24	Common Stock	S	100.0	$302.9	Disposed	13000	Direct
2014-03-24	Common Stock	S	300.0	$303.64	Disposed	12700	Direct
2014-03-24	Common Stock	S	300.0	$304.42	Disposed	12400	Direct
2014-03-24	Common Stock	S	200.0	$305.25	Disposed	12200	Direct
2014-03-24	Common Stock	S	300.0	$307.65	Disposed	11900	Direct
2014-03-24	Common Stock	S	400.0	$308.25	Disposed	11500	Direct
2014-03-24	Common Stock	S	600.0	$310.8	Disposed	10900	Direct
2014-03-24	Common Stock	S	1200.0	$311.46	Disposed	9700	Direct
2014-03-24	Common Stock	S	600.0	$312.29	Disposed	9100	Direct
2014-03-24	Common Stock	S	100.0	$313.4	Disposed	9000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-24	Non-Qualified Stock Option (right to buy)	$23.84	M	15000.0	Disposed	2018-01-02	Common Stock (15000)	Direct

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 10,200 shares of Company stock on March 24, 2014 at prices ranging from $300.00 to $300.52. 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 March 24, 2014 at each separate price.

F3: Represents volume-weighted average price of sales of 700 shares of Company stock on March 24, 2014 at prices ranging from $301.00 to $301.37. 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 March 24, 2014 at each separate price.

F4: Represents volume-weighted average price of sales of 300 shares of Company stock on March 24, 2014 at prices ranging from $303.56 to $303.71. 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 March 24, 2014 at each separate price.

F5: Represents volume-weighted average price of sales of 300 shares of Company stock on March 24, 2014 at prices ranging from $304.24 to $304.73. 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 March 24, 2014 at each separate price.

F6: Represents volume-weighted average price of sales of 200 shares of Company stock on March 24, 2014 at prices ranging from $305.00 to $305.50. 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 March 24, 2014 at each separate price.

F7: Represents volume-weighted average price of sales of 300 shares of Company stock on March 24, 2014 at prices ranging from $307.62 to $307.67. 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 March 24, 2014 at each separate price.

F8: Represents volume-weighted average price of sales of 400 shares of Company stock on March 24, 2014 at prices ranging from $308.00 to $308.61. 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 March 24, 2014 at each separate price.

F9: Represents volume-weighted average price of sales of 600 shares of Company stock on March 24, 2014 at prices ranging from $310.65 to $310.92. 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 March 24, 2014 at each separate price.

F10: Represents volume-weighted average price of sales of 1,200 shares of Company stock on March 24, 2014 at prices ranging from $311.00 to $311.96. 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 March 24, 2014 at each separate price.

F11: Represents volume-weighted average price of sales of 600 shares of Company stock on March 24, 2014 at prices ranging from $312.00 to $312.70. 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 March 24, 2014 at each separate price.

F12: The stock option becomes exercisable in three equal annual installments, commencing one year after the date of grant.