<HTML>
<HEAD>
<TITLE>ATHEROGENICS INC.</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt">As filed with the Securities and Exchange Commission on April&nbsp;28, 2004<BR>
Registration No.&nbsp;333-


<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>


<P align="center" style="font-size: 10pt"><HR size="1" noshade width="10%" align="center">


<P align="center" style="font-size: 18pt"><B>FORM S-8</B>

<DIV align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>


<P align="center" style="font-size: 10pt"><HR size="1" noshade width="10%" align="center">


<P align="center" style="font-size: 24pt"><B>ATHEROGENICS, INC.</B>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Georgia</B><BR>
(State or other jurisdiction<BR>
of incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>58-2108232</B><BR>
(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><B>8995 Westside Parkway, Alpharetta, Georgia 30004</B><BR>
(Address of principal executive offices, including zip code)



<P align="center" style="font-size: 10pt"><B>AtheroGenics, Inc. 2004 Equity Ownership Plan</B><BR>
(Full title of the plan)



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="10%" align="center">


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Russell M. Medford</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Copy to:</B></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><B>President and Chief Executive Officer<BR>
AtheroGenics, Inc.<BR>
8995 Westside Parkway<BR>
Alpharetta, Georgia 30004</B><BR>
(Name and address of agent for service)<BR>
<B>(678)&nbsp;336-2500</B><BR>
(Telephone number, including area code,<BR>
of agent for service)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Leonard A. Silverstein, Esq.<BR>
McKenna Long &#038; Aldridge LLP<BR>
303 Peachtree Street, N.E.<BR>
Suite&nbsp;5300<BR>
Atlanta, Georgia 30308-3201<BR>
(404)&nbsp;527-4000</B></TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Title Of Each</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Class of</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Securities</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount Of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B> To Be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>To Be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offering Price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Aggregate</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registration</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Registered</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registered (1)</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Per Share (2)</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offering Price (2)</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Fee (2)</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock, no
par value
per share (3)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,500,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">24.72</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">111,240,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">14,094</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The shares of common stock being registered represent shares of
common stock available for issuance as incentive stock options,
non-qualified stock options, stock appreciation rights, restricted
stock and performance awards to be granted under the AtheroGenics,
Inc. 2004 Equity Ownership Plan. An undetermined number of
additional shares may be issued, or the shares registered hereunder
may be combined into an undetermined lesser number of shares, as a
result of events such as stock splits, stock dividends or similar
transactions pursuant to the terms of the AtheroGenics, Inc. 2004
Equity Ownership Plan.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The offering price for these shares is estimated pursuant to Rule 457(c)
and (h)&nbsp;of the Securities Act of 1933, as amended, solely for the purpose
of calculating the registration fee and is based upon the average of the
high and low prices of our common stock on April&nbsp;23, 2004 as reported on
the Nasdaq National Market.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Includes common stock purchase rights which initially attach to and trade
with the shares of common stock being registered hereby. Value
attributable to such rights, if any, is reflected in the market price of
the common stock.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">2
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>


<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">ITEM 8. EXHIBITS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">ITEM 9. UNDERTAKINGS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="g88741exv4w4.txt">EX-4.4 2004 EQUITY OWNERSHIP PLAN</A></TD></TR>
<TR><TD colspan="9"><A HREF="g88741exv5w1.txt">EX-5.1 OPINION OF MCKENNA LONG & ALDRIDGE LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="g88741exv23w1.txt">EX-23.1 CONSENT OF ERNST & YOUNG LLP</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART I</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I of the
instructions to the registration statement on Form S-8 will be sent or given to
participants in the AtheroGenics, Inc. 2004 Equity Ownership Plan as required
by Rule&nbsp;428(b)(1) of the rules promulgated under the Securities Act. These
documents are not being filed with the Securities and Exchange Commission (the
&#147;Commission&#148;) as a part of this registration statement in accordance with Rule
428(b) and the Note to Part&nbsp;I of Form S-8.


<P align="center" style="font-size: 10pt">3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "PART II" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART II</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>


<!-- link2 "ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Commission allows us to &#147;incorporate by reference&#148; the information we
file with it, which means that we can disclose important information to you by
referring you to those documents. The information incorporated by reference is
considered part of this registration statement, and later information that we
file with the Commission will automatically update and supersede this
information. We incorporate by reference documents listed below and any future
filings made with the Commission under Sections&nbsp;13(a), 13(c), 14 or 15(d) of
the Securities Exchange Act of 1934, as amended, until we file a post-effective
amendment which indicates that all securities offered in this registration
statement have been sold or which de-registers all securities then remaining
unsold.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have filed the following documents with the Commission that are
incorporated by reference as of their respective dates:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="right">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Annual Report on Form 10-K for the fiscal year ended December&nbsp;31,
2003;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="right">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of our common stock included in Item&nbsp;1 of our
Registration Statement on Form 8-A (Registration No.&nbsp;0-31261), as
filed with the Commission on August&nbsp;4, 2000; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="right">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of our common stock purchase rights included
in Item&nbsp;1 of our Registration Statement on Form 8-A (Registration
No.&nbsp;0-31261), as filed with the Commission on November&nbsp;19, 2001.</TD>
</TR>

</TABLE>

<!-- link2 "ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Fourth Amended and Restated Articles of Incorporation eliminate, as
permitted by Section&nbsp;14-2-202(b)(4) of the Georgia Business Corporation Code
(the &#147;Georgia Code&#148;), the personal liability of directors and officers for
monetary damages to the corporation or its shareholders for breach of their
duty of care and other duties; provided, however, that our Articles of
Incorporation and Section&nbsp;14-2-202(b)(4) of the Georgia Code do not permit us
to eliminate or limit liability for (1)&nbsp;a breach of duty involving
appropriation of a business opportunity of ours; (2)&nbsp;an act or omission which
involves intentional misconduct or a knowing violation of law; (3)&nbsp;any
transaction from which an improper personal benefit is derived; or (4)&nbsp;any
payments of a dividend or any other type of distribution that is illegal under
Section&nbsp;14-2-832 of the Georgia Code. In addition, if at any time the Georgia
Code is amended to authorize further elimination or limitation of personal
liability, then the liability of each of our directors and officers shall be
eliminated or limited to the fullest extent permitted by such provisions, as so
amended, without further action by the shareholders, unless the provisions of
the Georgia Code require such action.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sections&nbsp;14-2-850 to 14-2-859, inclusive, of the Georgia Code govern the
indemnification of directors, officers, employees and agents. Section&nbsp;14-2-851
of the Georgia Code provides for indemnification of any of our directors for
liability incurred by him in connection with any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative,
arbitrative or investigative and whether formal or informal, in which he may
become involved by reason of being a member of our board of directors. Section
14-2-851 also provides such indemnity for directors who, at


<P align="center" style="font-size: 10pt">II-1
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">our request, act as directors, officers, partners, trustees, employees or
agents of another foreign or domestic corporation, partnership, joint venture,
trust, employee benefit plan or another enterprise. Section&nbsp;14-2-851 permits
indemnification if the director acted in a manner he believed in good faith to
be in or not opposed to our best interest and, in addition, in criminal
proceedings, if he had no reasonable cause to believe his conduct was unlawful.
If the required standard of conduct is met, indemnification may include
judgments, settlements, penalties, fines or reasonable expenses, including
attorneys&#146; fees, incurred with respect to a proceeding. However, if the
director is adjudged liable to us in a derivative action or on the basis that
personal benefit was improperly received by him, the director will only be
entitled to such indemnification for reasonable expenses as a court finds to be
proper in accordance with the provisions of Section&nbsp;14-2-854.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;14-2-852 of the Georgia Code provides that directors who are
successful with respect to any claim brought against them, which claim is
brought because they are or were directors, are entitled to indemnification
against reasonable expenses as a right. Conversely, if the charges made in any
action are sustained, the determination of whether the required standard of
conduct has been met will be made, in accordance with the provisions of Section
14-2-855 of the Georgia Code, as follows: (1)&nbsp;if there are two or more
disinterested members of the board of directors, by the majority vote of a
quorum of the disinterested members of the board of directors, (2)&nbsp;by a
majority of the members of a committee of two or more disinterested directors,
(3)&nbsp;by special legal counsel or (4)&nbsp;by the shareholders, but, in such event,
the shares owned by or voted under the control of directors seeking
indemnification may not be voted.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;14-2-857 of the Georgia Code provides that an officer who is not a
director has the mandatory right of indemnification granted to directors under
Section&nbsp;14-2-852, as described above. In addition, we may, as provided by our
Articles of Incorporation, Bylaws, general or specific actions by our board of
directors, or by contract, indemnify and advance expenses to an officer,
employee or agent who is not a director to the extent that such indemnification
is consistent with public policy.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;V of our Third Amended and Restated Bylaws, as amended, provide
for indemnification of directors, officers and in-house legal counsel acting in
a legal capacity on our behalf against third-party actions and derivative
actions in which the individual becomes involved, as a party or otherwise,
arising from their status as such. Our Bylaws provide for the same standard of
conduct for indemnification as set out above in Section&nbsp;14-2-851 of the Georgia
Code. Our Bylaws prohibit indemnification where such person is adjudged liable
under similar situations set out above in Section&nbsp;14-2-854 of the Georgia Code.
Section&nbsp;3 of Article&nbsp;V provides for advancement of expenses as authorized by
our board of directors upon receipt of a written affirmation of such persons
good faith belief that he has met the relevant standard of conduct and an
undertaking to repay if it is determined that he is not entitled to
indemnification. Our Bylaws contain similar requirements for determining
indemnification rights that are set out above in Section&nbsp;14-2-855 of the
Georgia Code. Our Bylaws also contain a provision that allows us to purchase
and maintain insurance on behalf of an individual who is or was a director,
officer or in-house legal counsel.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our officers and directors are presently covered by insurance which (with
certain exceptions and within certain limitations) indemnifies them against any
losses or liabilities arising from any alleged &#147;wrongful act,&#148; including any
alleged breach of duty, neglect, error, misstatement, misleading statement,
omissions or other act done or wrongfully attempted. We pay the cost of such
insurance as permitted by our Bylaws and the laws of the State of Georgia.


<P align="center" style="font-size: 10pt">II-2
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "ITEM 8. EXHIBITS" -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 8. EXHIBITS</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Number</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Fourth Amended and Restated Articles of Incorporation, as amended
(incorporated by reference to Exhibit&nbsp;3.01 to Amendment No.&nbsp;2 of the
Registration Statement on Form&nbsp;S-1, Registration No.&nbsp;333-31140, filed July
13, 2000 declared effective on August&nbsp;8, 2000).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Third Amended and Restated Bylaws of AtheroGenics, Inc., as
amended (incorporated by reference to Exhibit&nbsp;3.02 to our Annual Report on
Form&nbsp;10-K filed March&nbsp;29, 2002).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rights Agreement dated as of November&nbsp;9, 2001 between AtheroGenics, Inc.
and American Stock Transfer &#038; Trust Company, as Rights Agent (incorporated
by reference to the AtheroGenics, Inc.&#146;s Current Report on Form&nbsp;8-K dated
November&nbsp;9, 2001, as filed November&nbsp;19, 2001).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">AtheroGenics, Inc. 2004 Equity Ownership Plan.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of McKenna Long &#038; Aldridge LLP.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of McKenna Long &#038; Aldridge LLP (included in its opinion filed as
Exhibit&nbsp;5.1 hereto).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney (see signature pages to this registration statement).</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>




<P>
<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="100%">*Filed herewith</TD>
</TR>

</TABLE>


<!-- link2 "ITEM 9. UNDERTAKINGS" -->
<DIV align="left"><A NAME="005"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 9. UNDERTAKINGS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>A.&nbsp;Rule
415 Offering.</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section&nbsp;10(a)(3) of
the Securities Act of 1933;



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising
after the effective date of the registration statement (or the most
recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information
set forth in the registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed
that which was registered) and any deviation from the low or high
end


<P align="center" style="font-size: 10pt">II-3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="margin-left:6%; font-size: 10pt">of the estimated maximum offering range may be reflected in
the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price
represent no more than 20&nbsp;percent change in the maximum aggregate
offering price set forth in the &#147;Calculation of Registration Fee&#148;
table in the effective registration statement; and



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the
plan of distribution not previously disclosed in the registration
statement or any material change to such information in the
registration statement;

<P align="left" style="font-size: 10pt"><I>provided, however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
registration statement is on Form S-3, Form S-8 or Form F-3, and the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the
Commission by the registrant pursuant to Section&nbsp;13 or 15(d) of the Securities
Exchange Act of 1934 that are incorporated by reference in the registration
statement.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to
be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
<I>bona fide </I>offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination
of the offering.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>B.&nbsp;Subsequent Documents Incorporated by Reference.</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant&#146;s annual report pursuant to Section 13(a) or Section 15(d) of the
Securities Exchange Act of 1934 that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial <I>bona fide </I>offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>C.&nbsp;Indemnification of Officers, Directors and Controlling Persons.</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling persons of
the registrant pursuant to the foregoing provisions, or otherwise, the
registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the
Securities Act of 1933 and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by
the registrant of expenses incurred or paid by a director, officer or
controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the registrant will, unless
in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.


<P align="center" style="font-size: 10pt">II-4
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="006"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the city of Alpharetta, State of Georgia, on April&nbsp;28, 2004.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3"><B>ATHEROGENICS, INC.</B><BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">/s/RUSSELL M. MEDFORD
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Russell M. Medford&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>




<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints Russell M. Medford and Mark P. Colonnese, and
each of them, as his true and lawful attorneys-in-fact, each acting alone, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign any and all amendments (including
any post-effective amendments) to this Registration Statement on Form S-8, and
to file the same, with all exhibits thereto and any other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite and
necessary to be done, as fully to all intents and purposes as he might or could
do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents (or any of them), or their or his substitute or substitutes, may
lawfully do or cause to be done by virtue thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities indicated as of April&nbsp;28, 2004.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="29%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="66%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Signatures</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/RUSSELL M. MEDFORD
<HR size="1" noshade>
Russell M. Medford
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President, Chief Executive Officer and Director<BR>
(Principal Executive Officer)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/MARK P. COLONNESE
<HR size="1" noshade>
Mark P. Colonnese
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Senior Vice President of Finance and Administration,
Chief Financial Officer and Secretary<BR>
(Principal Financial Officer and Principal
Accounting Officer)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/MICHAEL A. HENOS
<HR size="1" noshade>
Michael A. Henos
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board of Directors</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><I>(Signatures continued on following page)</I>

<P align="center" style="font-size: 10pt">II-5
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="29%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="66%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Signatures</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/R. WAYNE ALEXANDER
<HR size="1" noshade>
R. Wayne Alexander
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/DAVID BEARMAN
<HR size="1" noshade>
David Bearman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/VAUGHN D. BRYSON
<HR size="1" noshade>
Vaughn D. Bryson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/T. FORCHT DAGI
<HR size="1" noshade>
T. Forcht Dagi
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade>
Arthur M. Pappas
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/WILLIAM A. SCOTT
<HR size="1" noshade>
William A. Scott
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/STEVEN G. SUDOVAR
<HR size="1" noshade>
Steven G. Sudovar
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>







<P align="center" style="font-size: 10pt">II-6
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="007"></A></DIV>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Number</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Fourth Amended and Restated Articles of Incorporation, as amended
(incorporated by reference to Exhibit&nbsp;3.01 to Amendment No.&nbsp;2 of the
Registration Statement on Form&nbsp;S-1, Registration No.&nbsp;333-31140, filed July
13, 2000 declared effective on August&nbsp;8, 2000).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Third Amended and Restated Bylaws of AtheroGenics, Inc., as
amended (incorporated by reference to Exhibit&nbsp;3.02 to our Annual Report on
Form&nbsp;10-K filed March&nbsp;29, 2002).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rights Agreement dated as of November&nbsp;9, 2001 between AtheroGenics, Inc.
and American Stock Transfer &#038; Trust Company, as Rights Agent (incorporated
by reference to the AtheroGenics, Inc.&#146;s Current Report on Form&nbsp;8-K dated
November&nbsp;9, 2001, as filed November&nbsp;19, 2001).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">AtheroGenics, Inc. 2004 Equity Ownership Plan.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of McKenna Long &#038; Aldridge LLP.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of McKenna Long &#038; Aldridge LLP (included in its opinion filed as
Exhibit&nbsp;5.1 hereto).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney (see signature pages to this registration statement).</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>




<P>
<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="100%">*Filed herewith</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt">
</DIV>


</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "g88741sv8.htm", "description": "ATHEROGENICS INC.", "secsgml_size_bytes": 46449}]
{"company-data": {"conformed-name": "ATHEROGENICS INC", "cik": "0001107601", "assigned-sic": "2834", "irs-number": "582108232", "state-of-incorporation": "GA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-114953", "film-number": "04760831"}, "business-address": {"street1": "8995 WESTSIDE PARKWAY", "city": "ALPHARETTA", "state": "GA", "zip": "30004", "phone": "6783362500"}}
ATHEROGENICS INC.
Table of Contents
As filed with the Securities and Exchange Commission on April 28, 2004
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ATHEROGENICS, INC.
(Exact name of registrant as specified in its charter)
Georgia
(State or other jurisdiction
of incorporation or organization)
58-2108232
(I.R.S. Employer
Identification No.)
8995 Westside Parkway, Alpharetta, Georgia 30004
(Address of principal executive offices, including zip code)
AtheroGenics, Inc. 2004 Equity Ownership Plan
(Full title of the plan)
Russell M. Medford
Copy to:
President and Chief Executive Officer
AtheroGenics, Inc.
8995 Westside Parkway
Alpharetta, Georgia 30004
(Name and address of agent for service)
(678) 336-2500
(Telephone number, including area code,
of agent for service)
Leonard A. Silverstein, Esq.
McKenna Long & Aldridge LLP
303 Peachtree Street, N.E.
Suite 5300
Atlanta, Georgia 30308-3201
(404) 527-4000
Table of Contents
CALCULATION OF REGISTRATION FEE
Title Of Each
Class of
Proposed
Proposed
Securities
Amount
Maximum
Maximum
Amount Of
To Be
To Be
Offering Price
Aggregate
Registration
Registered
Registered (1)
Per Share (2)
Offering Price (2)
Fee (2)
Common Stock, no
par value
per share (3)
4,500,000
$
24.72
$
111,240,000
$
14,094
(1)
The shares of common stock being registered represent shares of
common stock available for issuance as incentive stock options,
non-qualified stock options, stock appreciation rights, restricted
stock and performance awards to be granted under the AtheroGenics,
Inc. 2004 Equity Ownership Plan. An undetermined number of
additional shares may be issued, or the shares registered hereunder
may be combined into an undetermined lesser number of shares, as a
result of events such as stock splits, stock dividends or similar
transactions pursuant to the terms of the AtheroGenics, Inc. 2004
Equity Ownership Plan.
(2)
The offering price for these shares is estimated pursuant to Rule 457(c)
and (h) of the Securities Act of 1933, as amended, solely for the purpose
of calculating the registration fee and is based upon the average of the
high and low prices of our common stock on April 23, 2004 as reported on
the Nasdaq National Market.
(3)
Includes common stock purchase rights which initially attach to and trade
with the shares of common stock being registered hereby. Value
attributable to such rights, if any, is reflected in the market price of
the common stock.
2
TABLE OF CONTENTS
PART I
PART II
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
ITEM 8. EXHIBITS
ITEM 9. UNDERTAKINGS
SIGNATURES
EXHIBIT INDEX
EX-4.4 2004 EQUITY OWNERSHIP PLAN
EX-5.1 OPINION OF MCKENNA LONG & ALDRIDGE LLP
EX-23.1 CONSENT OF ERNST & YOUNG LLP
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part I of the
instructions to the registration statement on Form S-8 will be sent or given to
participants in the AtheroGenics, Inc. 2004 Equity Ownership Plan as required
by Rule 428(b)(1) of the rules promulgated under the Securities Act. These
documents are not being filed with the Securities and Exchange Commission (the
"Commission") as a part of this registration statement in accordance with Rule
428(b) and the Note to Part I of Form S-8.
3
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE
The Commission allows us to "incorporate by reference" the information we
file with it, which means that we can disclose important information to you by
referring you to those documents. The information incorporated by reference is
considered part of this registration statement, and later information that we
file with the Commission will automatically update and supersede this
information. We incorporate by reference documents listed below and any future
filings made with the Commission under Sections 13(a), 13(c), 14 or 15(d) of
the Securities Exchange Act of 1934, as amended, until we file a post-effective
amendment which indicates that all securities offered in this registration
statement have been sold or which de-registers all securities then remaining
unsold.
We have filed the following documents with the Commission that are
incorporated by reference as of their respective dates:
(1)
Our Annual Report on Form 10-K for the fiscal year ended December 31,
2003;
(2)
The description of our common stock included in Item 1 of our
Registration Statement on Form 8-A (Registration No. 0-31261), as
filed with the Commission on August 4, 2000; and
(3)
The description of our common stock purchase rights included
in Item 1 of our Registration Statement on Form 8-A (Registration
No. 0-31261), as filed with the Commission on November 19, 2001.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Our Fourth Amended and Restated Articles of Incorporation eliminate, as
permitted by Section 14-2-202(b)(4) of the Georgia Business Corporation Code
(the "Georgia Code"), the personal liability of directors and officers for
monetary damages to the corporation or its shareholders for breach of their
duty of care and other duties; provided, however, that our Articles of
Incorporation and Section 14-2-202(b)(4) of the Georgia Code do not permit us
to eliminate or limit liability for (1) a breach of duty involving
appropriation of a business opportunity of ours; (2) an act or omission which
involves intentional misconduct or a knowing violation of law; (3) any
transaction from which an improper personal benefit is derived; or (4) any
payments of a dividend or any other type of distribution that is illegal under
Section 14-2-832 of the Georgia Code. In addition, if at any time the Georgia
Code is amended to authorize further elimination or limitation of personal
liability, then the liability of each of our directors and officers shall be
eliminated or limited to the fullest extent permitted by such provisions, as so
amended, without further action by the shareholders, unless the provisions of
the Georgia Code require such action.
Sections 14-2-850 to 14-2-859, inclusive, of the Georgia Code govern the
indemnification of directors, officers, employees and agents. Section 14-2-851
of the Georgia Code provides for indemnification of any of our directors for
liability incurred by him in connection with any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative,
arbitrative or investigative and whether formal or informal, in which he may
become involved by reason of being a member of our board of directors. Section
14-2-851 also provides such indemnity for directors who, at
II-1
Table of Contents
our request, act as directors, officers, partners, trustees, employees or
agents of another foreign or domestic corporation, partnership, joint venture,
trust, employee benefit plan or another enterprise. Section 14-2-851 permits
indemnification if the director acted in a manner he believed in good faith to
be in or not opposed to our best interest and, in addition, in criminal
proceedings, if he had no reasonable cause to believe his conduct was unlawful.
If the required standard of conduct is met, indemnification may include
judgments, settlements, penalties, fines or reasonable expenses, including
attorneys' fees, incurred with respect to a proceeding. However, if the
director is adjudged liable to us in a derivative action or on the basis that
personal benefit was improperly received by him, the director will only be
entitled to such indemnification for reasonable expenses as a court finds to be
proper in accordance with the provisions of Section 14-2-854.
Section 14-2-852 of the Georgia Code provides that directors who are
successful with respect to any claim brought against them, which claim is
brought because they are or were directors, are entitled to indemnification
against reasonable expenses as a right. Conversely, if the charges made in any
action are sustained, the determination of whether the required standard of
conduct has been met will be made, in accordance with the provisions of Section
14-2-855 of the Georgia Code, as follows: (1) if there are two or more
disinterested members of the board of directors, by the majority vote of a
quorum of the disinterested members of the board of directors, (2) by a
majority of the members of a committee of two or more disinterested directors,
(3) by special legal counsel or (4) by the shareholders, but, in such event,
the shares owned by or voted under the control of directors seeking
indemnification may not be voted.
Section 14-2-857 of the Georgia Code provides that an officer who is not a
director has the mandatory right of indemnification granted to directors under
Section 14-2-852, as described above. In addition, we may, as provided by our
Articles of Incorporation, Bylaws, general or specific actions by our board of
directors, or by contract, indemnify and advance expenses to an officer,
employee or agent who is not a director to the extent that such indemnification
is consistent with public policy.
Article V of our Third Amended and Restated Bylaws, as amended, provide
for indemnification of directors, officers and in-house legal counsel acting in
a legal capacity on our behalf against third-party actions and derivative
actions in which the individual becomes involved, as a party or otherwise,
arising from their status as such. Our Bylaws provide for the same standard of
conduct for indemnification as set out above in Section 14-2-851 of the Georgia
Code. Our Bylaws prohibit indemnification where such person is adjudged liable
under similar situations set out above in Section 14-2-854 of the Georgia Code.
Section 3 of Article V provides for advancement of expenses as authorized by
our board of directors upon receipt of a written affirmation of such persons
good faith belief that he has met the relevant standard of conduct and an
undertaking to repay if it is determined that he is not entitled to
indemnification. Our Bylaws contain similar requirements for determining
indemnification rights that are set out above in Section 14-2-855 of the
Georgia Code. Our Bylaws also contain a provision that allows us to purchase
and maintain insurance on behalf of an individual who is or was a director,
officer or in-house legal counsel.
Our officers and directors are presently covered by insurance which (with
certain exceptions and within certain limitations) indemnifies them against any
losses or liabilities arising from any alleged "wrongful act," including any
alleged breach of duty, neglect, error, misstatement, misleading statement,
omissions or other act done or wrongfully attempted. We pay the cost of such
insurance as permitted by our Bylaws and the laws of the State of Georgia.
II-2
Table of Contents
ITEM 8. EXHIBITS
Exhibit
Number
Description
4.1
Form of Fourth Amended and Restated Articles of Incorporation, as amended
(incorporated by reference to Exhibit 3.01 to Amendment No. 2 of the
Registration Statement on Form S-1, Registration No. 333-31140, filed July
13, 2000 declared effective on August 8, 2000).
4.2
Form of Third Amended and Restated Bylaws of AtheroGenics, Inc., as
amended (incorporated by reference to Exhibit 3.02 to our Annual Report on
Form 10-K filed March 29, 2002).
4.3
Rights Agreement dated as of November 9, 2001 between AtheroGenics, Inc.
and American Stock Transfer & Trust Company, as Rights Agent (incorporated
by reference to the AtheroGenics, Inc.'s Current Report on Form 8-K dated
November 9, 2001, as filed November 19, 2001).
4.4*
AtheroGenics, Inc. 2004 Equity Ownership Plan.
5.1*
Opinion of McKenna Long & Aldridge LLP.
23.1*
Consent of Ernst & Young LLP.
23.2*
Consent of McKenna Long & Aldridge LLP (included in its opinion filed as
Exhibit 5.1 hereto).
24.1
Powers of Attorney (see signature pages to this registration statement).
*Filed herewith
ITEM 9. UNDERTAKINGS
A. Rule
415 Offering.
The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of
the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events arising
after the effective date of the registration statement (or the most
recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information
set forth in the registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed
that which was registered) and any deviation from the low or high
end
II-3
Table of Contents
of the estimated maximum offering range may be reflected in
the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price
represent no more than 20 percent change in the maximum aggregate
offering price set forth in the "Calculation of Registration Fee"
table in the effective registration statement; and
(iii) To include any material information with respect to the
plan of distribution not previously disclosed in the registration
statement or any material change to such information in the
registration statement;
provided, however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
registration statement is on Form S-3, Form S-8 or Form F-3, and the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the
Commission by the registrant pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 that are incorporated by reference in the registration
statement.
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to
be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination
of the offering.
B. Subsequent Documents Incorporated by Reference.
The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Securities Exchange Act of 1934 that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial
bona fide
offering thereof.
C. Indemnification of Officers, Directors and Controlling Persons.
Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling persons of
the registrant pursuant to the foregoing provisions, or otherwise, the
registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the
Securities Act of 1933 and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by
the registrant of expenses incurred or paid by a director, officer or
controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the registrant will, unless
in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.
II-4
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the city of Alpharetta, State of Georgia, on April 28, 2004.
ATHEROGENICS, INC.
(Registrant)
By:
/s/RUSSELL M. MEDFORD
Russell M. Medford
President and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints Russell M. Medford and Mark P. Colonnese, and
each of them, as his true and lawful attorneys-in-fact, each acting alone, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign any and all amendments (including
any post-effective amendments) to this Registration Statement on Form S-8, and
to file the same, with all exhibits thereto and any other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite and
necessary to be done, as fully to all intents and purposes as he might or could
do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents (or any of them), or their or his substitute or substitutes, may
lawfully do or cause to be done by virtue thereof.
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities indicated as of April 28, 2004.
Signatures
Title
/s/RUSSELL M. MEDFORD
Russell M. Medford
President, Chief Executive Officer and Director
(Principal Executive Officer)
/s/MARK P. COLONNESE
Mark P. Colonnese
Senior Vice President of Finance and Administration,
Chief Financial Officer and Secretary
(Principal Financial Officer and Principal
Accounting Officer)
/s/MICHAEL A. HENOS
Michael A. Henos
Chairman of the Board of Directors
(Signatures continued on following page)
II-5
Table of Contents
Signatures
Title
/s/R. WAYNE ALEXANDER
R. Wayne Alexander
Director
/s/DAVID BEARMAN
David Bearman
Director
/s/VAUGHN D. BRYSON
Vaughn D. Bryson
Director
/s/T. FORCHT DAGI
T. Forcht Dagi
Director
Arthur M. Pappas
Director
/s/WILLIAM A. SCOTT
William A. Scott
Director
/s/STEVEN G. SUDOVAR
Steven G. Sudovar
Director
II-6
Table of Contents
EXHIBIT INDEX
Exhibit
Number
Description
4.1
Form of Fourth Amended and Restated Articles of Incorporation, as amended
(incorporated by reference to Exhibit 3.01 to Amendment No. 2 of the
Registration Statement on Form S-1, Registration No. 333-31140, filed July
13, 2000 declared effective on August 8, 2000).
4.2
Form of Third Amended and Restated Bylaws of AtheroGenics, Inc., as
amended (incorporated by reference to Exhibit 3.02 to our Annual Report on
Form 10-K filed March 29, 2002).
4.3
Rights Agreement dated as of November 9, 2001 between AtheroGenics, Inc.
and American Stock Transfer & Trust Company, as Rights Agent (incorporated
by reference to the AtheroGenics, Inc.'s Current Report on Form 8-K dated
November 9, 2001, as filed November 19, 2001).
4.4*
AtheroGenics, Inc. 2004 Equity Ownership Plan.
5.1*
Opinion of McKenna Long & Aldridge LLP.
23.1*
Consent of Ernst & Young LLP.
23.2*
Consent of McKenna Long & Aldridge LLP (included in its opinion filed as
Exhibit 5.1 hereto).
24.1
Powers of Attorney (see signature pages to this registration statement).
*Filed herewith