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Vanda Pharmaceuticals Inc. Director's Dealing 2009

May 8, 2009

33390_dirs_2009-05-07_f2906ff2-ee57-4c83-bb47-ef36a65fe74d.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Vanda Pharmaceuticals Inc. (VNDA)
CIK: 0001347178
Period of Report: 2009-05-06

Reporting Person: Irish Stephanie Rast (Sr. VP, Acting CFO/Treasurer)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2009-05-06 Restricted Stock Units $ A 20000 Acquired Common Stock (20000) Direct

Footnotes

F1: The Restricted Stock Units represented a contingent right to receive a share of the Issuer's common stock which vested upon the Issuer's receipt of approval by the United States Food & Drug Administration of its New Drug Application for Fanapt(TM)(iloperidone) on May 6, 2009.

F2: N/A

F3: On January 20, 2009, the Reporting Person filed a Form 3 which stated that the Reporting Person owned 40,000 shares of Restricted Common Stock which had not vested as of such date. The 20,000 Restricted Stock Units reported herein were included in such aggregate number of securities reported as being owned by the Reporting Person.