-------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
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/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB NUMBER: 3235-0287
LONGER SUBJECT TO EXPIRES: DECEMBER 31, 2001
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ESTIMATED AVERAGE BURDEN
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or HOURS PER RESPONSE .... 0.5
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940 -----------------------------
INSTRUCTION 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
Fleming Standish M Triangle Pharmaceuticals, Inc. (VIRS) X Director 10% Owner
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--------------------------------------------------------------------------------------------- Officer (give Other
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- title ---- (specify
Number of Reporting Month/Year below) below
c/o Forward Ventures Person (Voluntary) ----------------- ------------------
9255 Towne Centre Drive, Suite 300 May 2001
-------------------------------------------- --------------------- 7. Individual or Joint/Group Filing
(Street) 5. If Amendment, (Check Applicable Line)
Date of Original _X_Form filed by One Reporting Person
(Month/Year) ___Form filed by More than One
San Diego CA 92121 Reporting Person
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(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day/ ------------------------------------------- Month Indirect Owner-
Year) (A) or (I) ship
Code V Amount (D) Price (Instr. 3 (Instr. 4) (Instr. 4)
and 4)
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Common Stock 106,082 D
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Common Stock 817(1) I By family
trust
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Common Stock 1,545(+)(2) I By
children's
trust
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Common Stock 4,122(+)(3) I By limited
partnership
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Common Stock 520,000(+)(4) I By general
partnership
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Common Stock 233,633(+)(5) I By general
partnership
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Common Stock 5/18/2001 C 1,229,130 A (++) 1,229,139(+)(6) I By general
partnership
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Common Stock 5/18/2001 C 104,200 A (++) 104,200(+)(7) I By general
partnership
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, SEE Instruction 4(b)(v). SEC 1474 (3-00)
POTENTIAL PERSONS WHO ARE TO 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.
FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
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Date Expira-
-------------------------------------- Exer- tion
cisable Date
Code V (A) (D)
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Series B Convertible 1-for-10(++) 5/18/2001 C 122,913(8)
Preferred Stock
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Series B Convertible 1-for-10(++) 5/18/2001 C 10,420(8)
Preferred Stock
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Stock Option (Right to Buy) $5 5/18/2001 A V 22,500 (9) 5/17/2011
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7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
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Common Stock 1,229,130 0(6) 1 By general
partnership
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Common Stock 104,200 0(7) 1 By general
partnership
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Common Stock 22,500 29,834 D
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Explanation of Responses:
(+) Mr. Fleming disclaims beneficial ownership of these shares other than to
the extent of his individual partnership and member pecuniary interests.
(++) Each share of Series B Convertible Preferred Stock automatically
converted into ten shares of Common Stock upon stockholder approval of
the terms of the sale of such shares at the annual meeting of stockholders
held on May 18, 2001.
(1) Represents shares held by the Fleming Family Trust, of which Mr.
Fleming is a co-trustee.
(2) Represents shares held by the Fleming Family Children's Trust, of which
Mr. Fleming is a co-trustee.
(3) Represents all shares held by Forward II Associates, L.P. (to the extent
of its own partnership interest in Forward Ventures II, L.P.).
(4) Represents all shares held by Forward Ventures II, L.P.
(5) Represents all shares held by Forward Ventures III, L.P., of which Forward III
Associates, L.L.C. is the general partner, of which Mr. fleming is a managing member.
(6) Represents all shares held by Forward Ventures IV, L.P., of which Forward IV
Associates, L.L.C. is the general partner, of which Mr. Fleming is a manager member.
(7) Represents all shares held by Forward Ventures IV B, L.P., of which Forward IV
Associates, L.L.C. is the general partner, of which Mr. Fleming is a managing member.
(8) Forward Ventures IV B, L.P. transferred 2,209 shares of Series B Convertible
Preferred Stock to Forward Ventures IV, L.P. for $60 per share.
(9) The option shall vest and become exercisable with respect to 7,500
shares on the day immediately preceding the date of each subsequent annual
meeting of stockholders following the grant date until all of such shares
shall become vested and exercisable.
/s/ STANDISH M. FLEMING June 8, 2001
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**Signature of Reporting Person Date
**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.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 2
SEC 1474 (3-90)