Depomed Inc (DEPO): Starboard Value Blasts The Company’s Board, Hires Special Advisors

Page 25 of 32 – SEC Filing

Item 5.

Interest in Securities of the Issuer.

Items 5(a) – (c) are hereby amended and restated to read as follows:

The aggregate percentage of Shares reported owned by each person named herein is based upon 61,097,929 Shares outstanding, as of May 4, 2016, which is the total number of Shares outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2016.

A.	Starboard V&O Fund

(a)

As of the close of business on July 26, 2016, Starboard V&O Fund beneficially owned 4,636,387 Shares.

Percentage: Approximately 7.6%

(b)

1. Sole power to vote or direct vote: 4,636,387

2. Shared power to vote or direct vote: 0

3. Sole power to dispose or direct the disposition: 4,636,387

4. Shared power to dispose or direct the disposition: 0

(c)

Starboard V&O Fund has not entered into any transactions in the Shares since the filing of Amendment No. 2 to the Schedule 13D.

B.	Starboard S LLC

(a)

As of the close of business on July 26, 2016, Starboard S LLC beneficially owned 548,714 Shares.

Percentage: Less than 1%

(b)

1. Sole power to vote or direct vote: 548,714

2. Shared power to vote or direct vote: 0

3. Sole power to dispose or direct the disposition: 548,714

4. Shared power to dispose or direct the disposition: 0

(c)

Starboard S LLC has not entered into any transactions in the Shares since the filing of Amendment No. 2 to the Schedule 13D.

C.	Starboard C LP

(a)

As of the close of business on July 26, 2016, Starboard C LP beneficially owned 304,821 Shares.

Percentage: Less than 1%

(b)

1. Sole power to vote or direct vote:  304,821

2. Shared power to vote or direct vote: 0

3. Sole power to dispose or direct the disposition:  304,821

4. Shared power to dispose or direct the disposition: 0

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