Savara Inc — Director's Dealing 2009

Jul 23, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADVENTRX PHARMACEUTICALS INC (ANX)
CIK: 0001160308
Period of Report: 2009-07-21

Reporting Person: Culley Brian M (SVP & Chief Business Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-07-21	Restricted Stock Units	$.0911	D	1200000	Disposed		Common Stock (1200000)	Direct
2009-07-21	Stock Option (Right to Buy)	$.13	A	1700000	Acquired	2019-07-21	Common Stock (1700000)	Direct

Footnotes

F1: This award of restricted stock units ("RSUs") was made pursuant to the issuer's 2008 Omnibus Incentive Plan (the "Plan") and each RSU represented a contingent right to receive one share of the issuer's common stock. The RSUs would have vested prior to the consummation of a Strategic Transaction, as such capitalized term was defined in the Notice of Grant issued pursuant to the Plan, provided that the reporting person's services to the issuer had not been terminated. The vested shares would have been delivered to the reporting person as soon as administratively practicable following the vesting date.

F2: The RSUs were canceled by mutual agreement of the reporting person and the issuer. In connection with cancellation of the RSUs, the reporting person received the stock option award reported in this Form 4.

F3: 25% of the total shares subject to the option vest and become exercisable on each of January 1, 2010, January 1, 2011, January 1, 2012 and January 1, 2013.