Sec Form 4 Filing - BAFFI ROBERT @ BIOMARIN PHARMACEUTICAL INC - 2016-02-24

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
BAFFI ROBERT
2. Issuer Name and Ticker or Trading Symbol
BIOMARIN PHARMACEUTICAL INC [ BMRN]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
EVP, Technical Operations
(Last) (First) (Middle)
C/O BIOMARIN PHARMACEUTICAL INC., 770 LINDARO ST.
3. Date of Earliest Transaction (MM/DD/YY)
02/24/2016
(Street)
SAN RAFAEL, CA94901
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/24/2016( 1 ) A 17,150 ( 2 ) ( 3 ) A $ 0 ( 4 ) 114,226 ( 5 ) D
Common Stock 02/24/2016( 1 ) A 49,600 ( 3 ) ( 6 ) A $ 0 ( 4 ) 163,826 D
Common Stock 02/24/2016( 1 ) A 5,883 ( 7 ) ( 8 ) A $ 0 ( 4 ) 169,709 D
Common Stock 31,676 I Shares held by Baffi Family Trust
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
BAFFI ROBERT
C/O BIOMARIN PHARMACEUTICAL INC.
770 LINDARO ST.
SAN RAFAEL, CA94901
EVP, Technical Operations
Signatures
/s/ Laura Randall Woodhead, Attorney-in-Fact 02/26/2016
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Transaction Date is the date that the Issuer's Board of Directors' Compensation Committee certified that the reporting person earned the Restricted Stock Units (RSUs), which are convertible into shares of the Issuer's Common Stock on a 1:1 basis.
( 2 )Represents (A) the total number of RSUs earned for satisfaction of one of the performance conditions (approval of Vimizin in the U.S. or EU prior to December 31, 2015) set forth in the performance-based RSU awards previously granted under the Issuer's 2006 Share Incentive Plan, using the final Total Shareholder Return (TSR) as of December 31, 2015, less (B) the number of RSUs previously reported on Form 4 on February 19, 2014 as earned for satisfaction of the same performance condition determined using a lower, estimated TSR.
( 3 )Although earned, the RSUs only vest on the date of filing of the Issuer's Form 10-K for the fiscal year ended December 31, 2015, so long as the reporting person remains continuously employed with the Issuer through that date, subject to earlier vesting upon certain corporate events.
( 4 )Price is not applicable to the RSUs.
( 5 )Due to an administrative oversight, the total number of shares of Common Stock beneficially owned previously reported on Form 4 on June 8, 2015 and on Form 5 on February 12, 2016 was short by 50 shares. The total here correctly includes those 50 shares.
( 6 )Represents the total number of RSUs earned for satisfaction of one of the performance conditions (Issuers's total revenue for the calendar year 2015, as certified by the Issuer's audited financials, equals or exceeds $775 million) set forth in the performance-based RSU awards previously granted under the Issuer's 2006 Share Incentive Plan using the final TSR as of December 31, 2015.
( 7 )Represents the total number of RSUs earned pursuant to a calculation based on the level of the Issuer's total adjusted revenues for the fiscal year ended December 31, 2015, as certified by its audited financials, set forth in the performance-based RSU awards previously granted under the Issuer's 2006 Share Incentive Plan.
( 8 )Although earned, the RSUs only vest according to the following schedule: 1/3 vests on each of March 3, 2016, 2017 and 2018, so long as the reporting person remains continuously employed with the Issuer through that date, subject to earlier vesting upon certain corporate events.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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