Dyax (DYAX) Form 4 DYAX / GEORGE V MIGAUSKY ownership change

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

MIGAUSKY GEORGE V

(Last) (First) (Middle)

C/O DYAX CORP.

55 NETWORK DRIVE

(Street)

BURLINGTON MA 01803-2756

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DYAX CORP [ DYAX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EVP & Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2016

4. If Amendment, Date of Original Filed (Month/Day/Year)

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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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	01/07/2016		M		12,266	A	$2.39	83,616	D
Common Stock	01/07/2016		M		37,271	A	$3.22	120,887	D
Common Stock	01/07/2016		M		47,761	A	$1.91	168,648	D
Common Stock	01/07/2016		M		52,077	A	$3	220,725	D
Common Stock								15,000	I	By Trust(1)

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		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: 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)	$2.39	01/07/2016		M			12,266	(2)	02/11/2019	Common Stock	12,266	$0	42,734	D
Stock Option (right to buy)	$3.22	01/07/2016		M			37,271	(3)	02/10/2020	Common Stock	37,271	$0	87,729	D
Stock Option (right to buy)	$1.91	01/07/2016		M			47,761	(4)	02/09/2021	Common Stock	47,761	$0	142,239	D
Stock Option (right to buy)	$3	01/07/2016		M			52,077	(5)	02/07/2023	Common Stock	52,077	$0	87,923	D

Explanation of Responses:

1. Shares are held in trusts, of which Mr. Migausky is the trustee, for the benefit of each of Mr. Migausky's children. Mr. Migausky disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

2. The options became fully exercisable on February 11, 2013.

3. The options became fully exercisable on February 10, 2014.

4. The options became fully exercisable on February 9, 2015.

5. The options become exercisable in 48 substantially equal installments at the end of each monthly anniversary of the date of grant, February 7, 2013.

Remarks:

	/s/ Stacie S. Aarestad as attorney-in-fact	01/08/2016
	** 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).
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