Sec Form 4 Filing - REDDICK ANDREW D @ ACURA PHARMACEUTICALS, INC - 2011-04-04

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
REDDICK ANDREW D
2. Issuer Name and Ticker or Trading Symbol
ACURA PHARMACEUTICALS, INC [ ACUR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
President and CEO
(Last) (First) (Middle)
C/O ACURA PHARMACEUTICALS, INC., 616 N. NORTH COURT, SUITE 120
3. Date of Earliest Transaction (MM/DD/YY)
04/04/2011
(Street)
PALANTINE, IL60067
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 04/04/2011 M 112,500 A $ 1.3 1,105,109 ( 1 ) D
Common Stock 04/04/2011 F 37,500 ( 2 ) D $ 3.9 1,067,609 D
Common Stock 04/04/2011 F 30,263 ( 3 ) D $ 3.9 1,037,346 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 Options $ 1.3 04/04/2011 M 112,500 ( 4 ) 08/12/2014 Coomon Stock 112,500 ( 5 ) 337,500 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
REDDICK ANDREW D
C/O ACURA PHARMACEUTICALS, INC.
616 N. NORTH COURT, SUITE 120
PALANTINE, IL60067
X President and CEO
Signatures
/s/ Andrew D. Reddick 04/05/2011
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Amount of securities includes 682,500 Restricted Stock Units held by Reporting Person. Absent a change of control, shares of common stock will be distributed in exchange for Restricted Stock Units (after payment of $.01 par value per share) in three equal installments on January 1st of each of 2012, 2013 and 2014.
( 2 )Shares withheld by the Issuer for payment by the Reporting Person to the Issuer of his option exercise price.
( 3 )Shares withheld by the Issuer for payment by the Reporting Person of his tax withholdings.
( 4 )Option exercised is derived from an option to purchase 875,000 shares granted 8/12/2004 (the "Original Option"), which vested as follows: (i) as to 300,000 underlying shares on the date of grant; and (ii) and with respect to the remainder, 25,000 underlying shares vested monthly thereafter commencing on August 31, 2004 until fully vested. On 2/8/2006 the Original Option was bifurcated into two options to comply with Section 409A of the Internal Revenue Code; one with respect to 425,000 shares that had vested on or prior to 12/31/2004 (the "Pre-409A Option") and one with respect to 450,000 shares (the "Post-409A Option"), which vested and was exercisable on the same schedule as in the Original Option. The Pre-409A Option was previously exercised. The Post-409A Option, as amended on 2/8/2006 and 12/2007, is exercisable (absent a change of control) in four equal installments commencing on January 1 of each of 2011, 2012, 2013 and 2014. The 1/1/2011 installment is being exercised herewith.
( 5 )Omitted pursuant to General Instruction 4(c)(iii) to Form 4.

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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