| FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES 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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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 04/11/2006 |
3. Issuer Name and Ticker or Trading Symbol
TARGACEPT INC [ TRGT ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
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| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Stock | 11,332(1) | D | |
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Explanation of Responses: |
| 1. Of the 11,332 shares reported, 1,666 are subject to forfeiture if (i) the service of Mr. Skaletsky is terminated or (ii) Mr. Skaletsky fails to attend (either in person or by conference telephone) in full at least 75% of the regular meetings of the Board of Directors in the one-year period ending June 6, 2006. |
| Remarks: |
| /s/ Mark Skaletsky | 04/11/2006 | |
| ** 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 5 (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. | ||
Securities
and Exchange Commission
Judiciary
Plaza
450 Fifth
Street, N.W.
Washington,
DC 20549
| Re: | Targacept, Inc. |
Gentlemen:
Pursuant
to General Instruction 7 to Form 3 (Initial Statement of Beneficial Ownership),
Form 4 (Statement of Changes in Beneficial Ownership) and Form 5 (Annual
Statement of Changes in Beneficial Ownership) promulgated by the Securities and
Exchange Commission pursuant to Section 16 of the Securities Exchange Act of
1934, the undersigned director, officer and/or shareholder of Targacept, Inc.
(the “Company”) hereby authorizes and designates Peter A. Zorn, Mauri Hodges,
and Alan A. Musso, and each of them, to execute and file with the Commission on
his behalf any and all statements on Form 3, Form 4 or Form 5 relating to his
beneficial ownership of securities of the Company as required by Section 16(a)
of the Securities Exchange Act of 1934 and the rules of the Commission
promulgated thereunder. This authorization and designation shall be effective
for so long as the undersigned remains subject to the provisions of Section 16
of the Securities Exchange Act of 1934.
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Effective
as of April 11, 2006. |
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/s/
Mark Skaletsky |
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Mark
Skaletsky |