XNAS:ETRM EnteroMedics Inc Insider Activity 4 Filing - 9/27/2012

Effective Date 9/27/2012

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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 OF SECURITIES

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
KNUDSON MARK B
  2. Issuer Name and Ticker or Trading Symbol
EnteroMedics Inc [ETRM]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chrmn, Pres & CEO
(Last)
(First)
(Middle)
2800 PATTON ROAD
3. Date of Earliest Transaction (Month/Day/Year)
09/27/2012
(Street)

ST. PAUL, MN 55113
4. If Amendment, Date 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
(City)
(State)
(Zip)
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               1,382 I Spouse Revocable Trust
Common Stock               3,215 I Family Limited Partnership
Common Stock               57,571 I Revocable Trust 2003

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 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 Option (right to buy) $2.76             08/16/2004(1) 08/16/2014 Common Stock 11,575   11,575 D  
Stock Option (right to buy) $2.76               (2) 04/27/2015 Common Stock 7,915   7,915 D  
Stock Option (right to buy) $2.76             04/20/2007(3) 04/20/2016 Common Stock 6,776   6,776 D  
Stock Option (right to buy) $1.9             10/29/2010(5) 10/29/2017 Common Stock 33,432   33,432 D  
Stock Option (right to buy) $1.9             10/29/2010(5) 10/29/2017 Common Stock 25,902   25,902 D  
Stock Option (right to buy) $1.9             10/29/2010(5) 10/29/2017 Common Stock 44,131   44,131 D  
Warrant (Right to Buy) $8.28             08/24/2009 02/24/2013 Common Stock 5,498   5,498 I Revocable Trust 2003
Stock Option (right to buy) $1.9             10/29/2010(5) 10/29/2017 Common Stock 50,472   50,472 D  
Stock Option (right to buy) $3.78             11/18/2009(4) 11/18/2019 Common Stock 20,833   20,833 D  
Warrant (Common Stock) $2.19               (6)   (7) Common Stock 25,000   25,000 D  
Stock Option (right to buy) $2.58             03/16/2011(8) 02/16/2021 Common Stock 350,000   350,000 D  
Stock Option (right to buy) $2.67             08/12/2011(8) 07/12/2021 Common Stock 350,000   350,000 D  
Stock Option (right to buy) $1.9             01/14/2012(8) 12/14/2021 Common Stock 200,000   200,000 D  
Stock Option (right to buy) $3.35(9) 09/27/2012   A   1,292,225   08/10/2012(8) 07/10/2022 Common Stock 1,292,225 $ 0 1,292,225 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
KNUDSON MARK B
2800 PATTON ROAD
ST. PAUL, MN 55113
  X     Chrmn, Pres & CEO  

Signatures

 /s/ Greg S. Lea, Attorney in Fact for Mark B. Knudson   09/28/2012
** Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) 32,968 shares vest immediately, of the remaining shares 25% vest on the first anniversary of the date of grant and thereafter at 1/36th per month for 36 months, beginning the date shown.
(2) Currently 100% vested in accordance with achievement of milestone vesting terms.
(3) Vests 25% on the first anniversary of the date of grant and 1/36th per month for 36 months thereafter, beginning the date shown.
(4) 25% vests immediately and the remaining 75% vests on 11/15/2010; 100% of unvested shares become vested upon change in control.
(5) Options vest 33% on date noted and thereafter at 1/24th per month.
(6) Warrant becomes exercisable 181 days from the date of issuance at close of offering.
(7) Warrant expires five years from the date it becomes exercisable.
(8) Vests in increments of 1/48th per month, beginning the date shown.
(9) The exercise price is the closing price on July 10, 2012, the date the board authorized the grants subject to stockholder approval of the increase in the number of shares available for awards under the stock incentive plan, which was obtained on September 27, 2012.

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XNAS:ETRM EnteroMedics Inc Insider Activity 4 Filling

EnteroMedics Inc XNAS:ETRM Stock - Get Insider Activity SEC Filing of EnteroMedics Inc XNAS:ETRM stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

XNAS:ETRM EnteroMedics Inc Insider Activity 4 Filing - 9/27/2012
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