XNAS:XNPT XenoPort Inc Insider Activity 4 Filing - 1/13/2012

Effective Date 1/13/2012

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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 *
Harris William G
  2. Issuer Name and Ticker or Trading Symbol
XENOPORT INC [XNPT]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP, Finance and CFO
(Last)
(First)
(Middle)
C/O XENOPORT, INC., 3410 CENTRAL EXPRESSWAY
3. Date of Earliest Transaction (Month/Day/Year)
01/13/2012
(Street)

SANTA CLARA, CA 95051
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 01/13/2012   M   1,250 A $ 0 45,978(1) D  
Common Stock 01/13/2012   F   523 D $4.34 45,455 D  
Common Stock 01/13/2012   M   6,250 A $ 0 51,705 D  
Common Stock 01/13/2012   F   2,617 D $4.34 49,088 D  

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
Restricted Stock Unit (2) 01/13/2012   M   1,250     (3)   (3) Common Stock 1,250 $ 0 2,500 D  
Restricted Stock Unit (2) 01/13/2012   M   6,250     (4)   (4) Common Stock 6,250 $ 0 18,750 D  
Restricted Stock Unit (2) 01/13/2012   A   30,000     (5)   (5) Common Stock 30,000 $ 0 30,000 D  
Employee Stock Option $4.34 01/13/2012   A   30,000     (6) 01/13/2022 Common Stock 30,000 $ 0 30,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Harris William G
C/O XENOPORT, INC.
3410 CENTRAL EXPRESSWAY
SANTA CLARA, CA 95051
      SVP, Finance and CFO  

Signatures

 /s/ Martyn J. Webster Attorney-in-fact   01/17/2012
** 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) Includes 273 and 416 shares acquired through the Issuer's Employee Stock Purchase Plan on May 13, 2011 and November 15, 2011, respectively.
(2) Each restricted stock unit represents a contingent right to receive one share of XenoPort, Inc. common stock.
(3) The restricted stock units shall vest over four years from the grant date, January 13, 2010, in equal annual installments.
(4) The restricted stock units shall vest over four years from the grant date, January 13, 2011, in equal annual installments.
(5) The restricted stock units shall vest over three years from the grant date, January 13, 2012, with 25% vesting on the first anniversary date, 25% vesting on the second anniversary date and 50% vesting on the third anniversary date from the date of grant.
(6) The shares shall vest and become exercisable in a series of forty-eight successive equal monthly installments over the four-year period measured from the grant date, January 13, 2012.

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XNAS:XNPT XenoPort Inc Insider Activity 4 Filling

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XNAS:XNPT XenoPort Inc Insider Activity 4 Filing - 1/13/2012
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