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 OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Expires: November 30, 2011
Estimated average burden
hours per response... 0.5
                      
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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

COVINGTON PAUL S 		2. Issuer Name and Ticker or Trading Symbol

Furiex Pharmaceuticals, Inc. [ FURX ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Senior VP-Clinical Operations
(Last)          (First)          (Middle)

C/O FURIEX PHARMACEUTICALS, INC., 3900 PARAMOUNT PARKWAY, SUITE 150 		3. Date of Earliest Transaction (MM/DD/YYYY)

12/5/2011
(Street)

MORRISVILLE, NC 27560
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   12/5/2011     P    2850   A $17.68   (1) 2923   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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 Options (to buy)   $9.11                      (2) 6/17/2020   Common Stock   75691     75691   D    
Stock Options (to buy)   $15                      (3) 5/9/2021   Common Stock   26000     26000   D    
Stock Options (to buy)   $13.16                      (4) 10/3/2021   Common Stock   37944     37944   D    

Explanation of Responses:
( 1)  This transaction was executed in multiple trades at prices ranging from $17.75 to $17.98. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
( 2)  The options were awarded on 6/17/2010 and vest over three years, with one-third vesting on each of the first, second and third anniversaries of the date of grant, provided the Optionee's employment continues.
( 3)  The options were awarded on 5/9/2011. One-third of the options vest on the date of grant and the remaining two-thirds vest in two equal annual installments on the first and second anniversaries of the date of grant, provided the Optionee's employment continues.
( 4)  The options were awarded on 10/3/2011 and vest over three years, with one-third vesting on each of the first, second and third anniversaries of the date of grant, provided the Optionee's employment continues.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
COVINGTON PAUL S
C/O FURIEX PHARMACEUTICALS, INC.
3900 PARAMOUNT PARKWAY, SUITE 150
MORRISVILLE, NC 27560

Senior VP-Clinical Operations

Signatures
/s/ Paul S. Covington 12/7/2011
** Signature of Reporting Person Date


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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
(MM) (NASDAQ:FURX)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more (MM) Charts.
(MM) (NASDAQ:FURX)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more (MM) Charts.