Dyax (DYAX) Form 4 DYAX / HENRY E BLAIR 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

OMB APPROVAL

OMB Number:	3235-0287
Estimated average burden
hours per response:	0.5

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^*

BLAIR HENRY E

(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)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/12/2016

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	01/12/2016		M		70,000	A	$2.94	421,722	D
Common Stock	01/12/2016		M		50,000	A	$2.39	471,722	D
Common Stock	01/12/2016		M		50,000	A	$2.09	521,722	D
Common Stock	01/12/2016		M		50,000	A	$3.15	571,722	D
Common Stock	01/12/2016		M		50,000	A	$2.09	621,722	D
Common Stock	01/12/2016		M		25,000	A	$1.51	646,722	D
Common Stock	01/12/2016		M		51,414	A	$2.06	698,136	D
Common Stock	01/12/2016		M		117,646	A	$2.06	815,782	D
Common Stock	01/12/2016		M		117,646	A	$2.06	933,428	D
Common Stock	01/12/2016		M		66,667	A	$2.3	1,000,095	D
Common Stock	01/12/2016		M		16,667	A	$26.23	1,016,762	D
Common Stock								100	I	By wife

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)	$2.94	01/12/2016		M			70,000	(1)	07/03/2016	Common Stock	70,000	$0	0	D
Stock Option (right to buy)	$2.39	01/12/2016		M			50,000	(2)	02/11/2019	Common Stock	50,000	$0	0	D
Stock Option (right to buy)	$2.09	01/12/2016		M			50,000	(3)	05/14/2019	Common Stock	50,000	$0	0	D
Stock Option (right to buy)	$3.15	01/12/2016		M			50,000	(4)	05/06/2020	Common Stock	50,000	$0	0	D
Stock Option (right to buy)	$2.09	01/12/2016		M			50,000	(5)	05/12/2021	Common Stock	50,000	$0	0	D
Stock Option (right to buy)	$1.51	01/12/2016		M			25,000	(6)	05/09/2022	Common Stock	25,000	$0	0	D
Stock Option (right to buy)	$2.06	01/12/2016		M			51,414	(7)	06/20/2017	Common Stock	51,414	$0	0	D
Stock Option (right to buy)	$2.06	01/12/2016		M			117,646	(7)	07/02/2017	Common Stock	117,646	$0	0	D
Stock Option (right to buy)	$2.06	01/12/2016		M			117,646	(7)	02/13/2018	Common Stock	117,646	$0	0	D
Stock Option (right to buy)	$2.3	01/12/2016		M			66,667	(8)	05/09/2023	Common Stock	66,667	$0	8,333	D
Stock Option (right to buy)	$26.23	01/12/2016		M			16,667	(9)	05/12/2025	Common Stock	16,667	$0	8,333	D

Explanation of Responses:

1. The options became fully exercisable on July 3, 2010.

2. The options became fully exercisable on May 14, 2009.

3. The options became fully exercisable on May 14, 2010.

4. The options became fully exercisable on May 12, 2011.

5. The options became fully exercisable on May 9, 2012.

6. The options became fully exercisable on May 9, 2013.

7. The options became fully exercisable on May 8, 2014.

8. The option becomes exercisable in thirty-six (36) substantially equal installments at the end of each monthly anniversary of the date of grant (May 9, 2013) for a period of thirty-five (35) months, with the 36th monthly installment to become exercisable as of the commencement of business on the date of the 2016 Annual Meeting of Stockholders at which such director is up for reelection or at which such director's term ends.

9. The option becomes exercisable in twelve (12) substantially equal installments on each monthly anniversary of the date of grant, May 12, 2015.

Remarks:

	/s/ Stacie S. Aarestad as attorney-in-fact	01/14/2016
	** 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).
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 Number.