Vanda Pharmaceuticals Inc. — Director's Dealing 2014

May 27, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Vanda Pharmaceuticals Inc. (VNDA)
CIK: 0001347178
Period of Report: 2014-05-22

Reporting Person: DUGAN RICHARD W (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-22	Stock Option (Right to Buy)	$10.44	A	15000	Acquired	2024-05-21	Common Stock (15000)	Direct

Footnotes

F1: Option granted upon conclusion of annual meeting of stockholders pursuant to the provisions of the Issuer's 2006 Equity Incentive Plan providing for annual option grants for outside directors.

F2: Exercisable in equal monthly installments over 12 months starting one month after the grant date, provided the Reporting Person provides continuous service to the Issuer through the applicable vesting date.