Sec Form 4 Filing - RAI RAJAT @ AKORN INC - 2014-08-07

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
RAI RAJAT
2. Issuer Name and Ticker or Trading Symbol
AKORN INC [ AKRX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Chief Executive Officer
(Last) (First) (Middle)
1925 WEST FIELD COURT SUITE 300
3. Date of Earliest Transaction (MM/DD/YY)
08/07/2014
(Street)
LAKE FOREST, IL60045
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 08/07/2014 M 2,000,000 A $ 1.34 2,031,271 D
Common Stock 08/07/2014( 1 ) S 903,659 D $ 33.62 ( 2 ) 1,127,612 ( 3 ) D
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
Stock Option (right to buy) $ 1.34 08/07/2014( 4 ) M 250,000 12/07/2009 08/07/2014 Common Stock 250,000 $ 0 ( 5 ) 0 D
Stock Option (right to buy) $ 1.34 08/07/2014( 4 ) M 1,750,000 ( 6 ) 08/07/2014 Common Stock 1,750,000 $ 0 ( 5 ) 0 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
RAI RAJAT
1925 WEST FIELD COURT SUITE 300
LAKE FOREST, IL60045
Chief Executive Officer
Signatures
/s/ Rajat Rai 08/08/2014
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Proceeds from the sale were used to pay exercise price and taxes due upon exercise of options.
( 2 )Reflects the weighted average sale price of the shares sold. The shares were sold in multiple trades at prices ranging from $33.14 to $34.11 per share. The reporting person will provide to the SEC staff, the issuer or a security holder of the issuer, upon request, full information regarding the number of shares sold at separate prices within the foregoing range.
( 3 )Amount of Shares Beneficially Owned Following Reported Transaction includes 26,271 unvested shares subject to a restricted stock award and 1,101,341 shares owned outright.
( 4 )Exercise of stock options that were approaching their 5-year expiration date.
( 5 )There was no consideration given in exchange for the security.
( 6 )1,750,000 options vested upon shareholder approval of an amendment to plan and the 6 month renewals of reporting person's consulting agreement which expired on December 7, 2009 pursuant to the following vesting schedule: 250,000 options vested upon each subsequent 6 month renewal of reporting person's consulting agreement after December 7, 2009 to June 7, 2013.

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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