SURMODICS INC — Director's Dealing 2014

May 9, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SURMODICS INC (SRDX)
CIK: 0000924717
Period of Report: 2013-12-31

Reporting Person: BEDOYA JOSE H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-12-31	Common Stock	A	486	$24.39	Acquired	4813	Direct
2014-03-31	Common Stock	A	525	$22.60	Acquired	5338	Direct
2014-04-29	Common Stock	M	8000	$21.82	Acquired	13338	Direct
2014-04-29	Common Stock	F	7930	$22.01	Disposed	5408	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-04-29	Stock Option (right to buy)	$21.82	M	8000	Disposed	2014-05-17	Common Stock (8000)	Direct

Footnotes

F1: The reporting person elected to receive vested deferred stock units (DSUs) in lieu of quarterly cash retainer payments. The DSUs are settled in shares of the issuer's common stock as described below.

F2: The reporting person paid the exercise price of a stock option issued in accordance with Rule 16b-3 by having shares of stock acquired upon the exercise withheld by the issuer.

F3: The amount beneficially owned includes 2,800 restricted stock units (RSUs) that vest on service-based vesting dates and 2,538 DSUs that are vested upon issuance, each of which will be settled in shares of the issuer's common stock on a 1 for 1 basis when the reporting person's service as a director ends.

F4: Fully vested.