Vanda Pharmaceuticals Inc. — Director's Dealing 2010

Dec 17, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Vanda Pharmaceuticals Inc. (VNDA)
CIK: 0001347178
Period of Report: 2010-12-16

Reporting Person: Polymeropoulos Mihael Hristos (Director, President and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-16	Employee Stock Option (Right to Buy)	$8.75	A	150000	Acquired	2020-12-15	Common Stock (150000)	Direct
2010-12-16	Restricted Stock Units	$	A	50000	Acquired		Common Stock (50000)	Direct

Footnotes

F1: The option vests in 48 equal monthly installments beginning on January 16, 2011.

F2: The Restricted Stock Units represent a contingent right to receive a share of the Issuer's common stock.

F3: The Restricted Stock Units vest in four equal annual installments beginning January 1, 2012. Vested shares will be delivered on the First Permissable Trading Day (as defined in the Restricted Stock Unit Agreement) that occurs on or after the day when the Restricted Stock Units vest.

F4: N/A