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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED
  STATES<br>
  SECURITIES AND EXCHANGE COMMISSION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT REPORT</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant to Section&nbsp;13 or 15(d)&nbsp;of the<br>
  Securities Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report
  (Date of earliest event reported):<br>
  <b>May&nbsp;7, 2008</b></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Pharmacopeia,&nbsp;Inc.</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of
  registrant as specified in its charter)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
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    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">0-50523</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">51-0418085</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
    jurisdiction of<br>
    incorporation or organization)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission<br>
    File Number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer<br>
    Identification No.)</font></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
   </tr>
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    <td width="66%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:66.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PO
    Box 5350, Princeton, New Jersey</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">08543-5350</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="66%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:66.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of
    principal executive offices)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(609)
  452-3600</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s
  telephone number, including area code)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Not
  Applicable</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former name,
  former address and former fiscal year, if changed since last report)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box
  below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the
  filing obligation of the registrant under any of the following provisions:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.46%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in .7pt 0in .7pt;width:96.54%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Written communications
    pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font></p>
    </td>
   </tr>
   <tr>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.46%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in .7pt 0in .7pt;width:96.54%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.46%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in .7pt 0in .7pt;width:96.54%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Soliciting material
    pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
    </td>
   </tr>
   <tr>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.46%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in .7pt 0in .7pt;width:96.54%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.46%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in .7pt 0in .7pt;width:96.54%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement
    communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17
    CFR 240.14d-2(b))</font></p>
    </td>
   </tr>
   <tr>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.46%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in .7pt 0in .7pt;width:96.54%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.46%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in .7pt 0in .7pt;width:96.54%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement
    communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17
    CFR 240.13e-4(c))</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\carias\08-14253-1\task2936695\14253-1-ba.htm',USER='cariasb',CD='May 13 10:43 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section&nbsp;5
  &#150; Corporate Governance and Management</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
  5.02&#160; Departure of Directors or Principal
  Officers; Election of Directors; Appointment of Principal Officers;
  Compensatory Arrangements of Certain Officers.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Restricted Stock Awards:</font></u></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;7,
  2008, the Compensation Committee (the &#147;Compensation Committee&#148;) of the Board of
  Directors (the &#147;Board&#148;) of Pharmacopeia,&nbsp;Inc. (the &#147;Company&#148;), granted the
  following restricted stock awards to the Company&#146;s principal executive officer,
  principal financial officer and other named executive officers:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="96%" style="border-collapse:collapse;width:96.46%;">
   <tr>
    <td width="48%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:48.38%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Name
    and Principal Position</font></b></p>
    </td>
    <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.3%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="49%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:49.32%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Restricted Stock Awards</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:48.38%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joseph A. Mollica<br>
    Chairman of the Board and Interim President and Chief Executive Officer</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:49.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55,000</font></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.38%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.38%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rene Belder<br>
    Senior Vice President, Clinical Development</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40,000</font></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.38%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.38%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stephen C. Costalas<br>
    Executive Vice President and General Counsel</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35,000</font></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.38%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.38%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Brian M. Posner<br>
    Executive Vice President and Chief Financial Officer</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30,000</font></p>
    </td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The restricted
  stock awards were issued pursuant to the terms of the Company&#146;s Amended and
  Restated 2004 Stock Incentive Plan, as amended from time to time (the &#147;2004
  Plan&#148;), as incentive awards to the executive officers based on the fair market
  value of the Common Stock on May&nbsp;7, 2008, as defined in the 2004 Plan, of
  $3.47.&nbsp; Dr.&nbsp;Mollica&#146;s award was granted to him pursuant to his
  interim employment agreement with the Company described below and it will vest
  in four equal tranches upon the achievement of four different performance
  metrics.&#160;&#160; The other restricted stock
  awards will vest as follows:&#160; fifty
  percent (50%) on December&nbsp;31, 2008 and the remainder on June&nbsp;1, 2009,
  provided that the executive continues employment with the Company from the date
  of the grant through the vesting date or the occurrence of an event enumerated
  below.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the event of
  termination of employment of the executive officer by reason of death,
  disability, or retirement, or involuntary termination of employment by the
  Company without Cause (as defined in the 2004 Plan), the restricted stock
  awards will vest fully and, in the event of termination for any other reason,
  any unvested restricted stock awards will automatically terminate and be
  forfeited as of the date of the executive&#146;s termination of employment.&#160; The restricted stock may not, among other
  things, be encumbered by the executive officer in favor of any party or
  assigned or transferred by the executive officer otherwise than by will or the
  laws of descent and distribution.&#160;&#160; Upon
  a Change in Control (as defined in the 2004 Plan), the outstanding stock awards
  will become immediately and fully vested, unless the restricted stock awards
  are assumed by the successor corporation and are substituted with restricted
  stock awards involving the common stock of the successor corporation with
  equivalent value and on terms and conditions no less favorable than those of
  the restricted stock awards described above.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Once the
  restricted stock awards are vested, the executive officer shall have all of the
  rights of a stockholder of the Company with respect to the restricted stock,
  including voting rights.&#160; Irrespective of
  whether the restricted stock awards are vested or unvested, if any cash
  dividends are paid with respect to shares of the Company&#146;s common stock, the
  Company will pay the executive officer, in cash, the amount of dividend that
  would have been distributed if the shares of restricted stock credited to the
  executive officer&#146;s account at the time of such dividend payment were
  unrestricted shares of common stock.&#160; The
  shares of restricted stock were issued to the executive officers pursuant to a
  registration statement on file with the Securities and Exchange Commission.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;page-break-after:avoid;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\carias\08-14253-1\task2936695\14253-1-ba.htm',USER='cariasb',CD='May 13 10:43 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interim Employment Agreement:</font></u></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;12,
  2008, the Company entered into an Interim Employment Agreement (the &#147;Interim
  Employment Agreement&#148;) with Joseph A. Mollica, Ph.D., the Company&#146;s Chairman of
  the Board and Interim President and Chief Executive Officer.&#160; The Interim Employment Agreement is effective
  as of April&nbsp;10, 2008 and the term (the &#147;Term&#148;) will continue for three
  months following the date on which a successor President and Chief Executive
  Officer of the Company commences his or her employment (&#147;Successor Commencement
  Date&#148;).&#160; On the Successor Commencement
  Date, Dr.&nbsp;Mollica will resign as the Company&#146;s Chairman of the Board but
  he may, at his option, continue to serve as a Class&nbsp;II director on the
  Board for the remainder of his current Class&nbsp;II director term, which
  expires at the 2009 annual meeting of stockholders.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">During the Term, Dr.&nbsp;Mollica
  will be paid an annual salary of $405,000 (&#147;Base Salary&#148;) for his service (i)&nbsp;as
  Chairman of the Board and Interim President and Chief Executive Officer prior
  to the Successor Commencement Date and (ii)&nbsp;assisting with, at the Company&#146;s
  option, a three-month transition period beginning with the Successor
  Commencement Date.&#160; Following the
  conclusion of the Term, Dr.&nbsp;Mollica&#146;s compensation will revert to an
  annualized amount of $100,000, the level of compensation he had been receiving
  as Chairman of the Board.&#160; This
  compensation will be paid in monthly installments through April&nbsp;30, 2009.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For calendar year
  2008, Dr.&nbsp;Mollica will be eligible to participate in the Company&#146;s Bonus
  Program for Senior Management for calendar year 2008 (the &#147;2008 Bonus Program&#148;).&#160; His annual bonus target (&#147;Target Bonus&#148;)
  under the 2008 Bonus Program will be nine-twelfths (9/12) of fifty percent
  (50%) of his Base Salary and payments to him under the 2008 Bonus Program will
  be determined based on the Company&#146;s actual performance versus approved
  corporate goals and objectives for 2008.&#160;
  Dr.&nbsp;Mollica will remain eligible for bonus payments under the 2008
  Bonus Program even if his employment under the Interim Employment Agreement
  ends prior to December&nbsp;31, 2008, provided that the Compensation Committee
  determines that he assisted in the successful identification and retention of a
  successor President and Chief Executive Officer and in a successful transition
  period.&#160; If Dr.&nbsp;Mollica&#146;s employment
  with the Company under this agreement extends into 2009, the Company and he
  have agreed to meet to negotiate an appropriate bonus arrangement for 2009.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In recognition of Dr.&nbsp;Mollica&#146;s
  agreement to serve as Interim President and Chief Executive Officer, (i)&nbsp;he
  was granted 55,000 restricted stock awards pursuant to the 2004 Plan, as
  described above, and (ii)&nbsp;all of his outstanding stock option agreements
  with the Company to purchase shares of Company common stock will be amended to
  provide that unless Dr.&nbsp;Mollica is terminated for Cause (as defined in the
  Interim Employment Agreement) or he voluntarily terminates his employment, he
  will be permitted to exercise the options that vest under such agreements for
  the full remainder of the respective terms of such options, irrespective of his
  status with the Company at the proposed time of exercise.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Interim
  Employment Agreement may be terminated by either party for any reason on ninety
  days&#146; notice.&#160; Dr.&nbsp;Mollica&#146;s
  employment may be terminated for Cause, under the Interim Employment Agreement,
  at any time upon delivery of written notice of such termination and he will not
  be entitled to receive a pro-rata bonus for the calendar year in which such
  termination occurs.&#160; If Dr.&nbsp;Mollica&#146;s
  employment is terminated without Cause in connection with a Change of Control
  (as defined in the Interim Employment Agreement), (i)&nbsp;the Company will pay
  Dr.&nbsp;Mollica a lump sum equal to two times the amount of his annual Base
  Salary then in effect, (ii)&nbsp;all of Dr.&nbsp;Mollica&#146;s unvested stock
  options will immediately vest, (iii)&nbsp;Dr.&nbsp;Mollica will receive a lump
  sum payment equal to two times the Target Bonus and (iv)&nbsp;the Company will
  pay Dr.&nbsp;Mollica all other accrued, but unpaid, compensation up to the date
  of his termination.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A copy of the
  Interim Employment Agreement is attached to this Report as Exhibit&nbsp;10.1
  and the foregoing summary is qualified in its entirety by the agreement as
  attached hereto.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\carias\08-14253-1\task2936695\14253-1-ba.htm',USER='cariasb',CD='May 13 10:43 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section&nbsp;8 &#150; Other
  Events</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
  8.01 Other Events.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><font size="2" style="font-size:10.0pt;">On April&nbsp;30,
  2008, the independent members of the Board elected Bruce A. Peacock to serve as
  the Board&#146;s lead independent director as of May&nbsp;8, 2008.&#160; Mr.&nbsp;Peacock is one of the Company&#146;s Class&nbsp;III
  Directors and he has served as a Company director since April&nbsp;2004.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section&nbsp;9 &#150; Financial
  Statement and Exhibits</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
  9.01 Financial Statements and Exhibits.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Exhibits</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="right">
  
  <table border="0" cellspacing="0" cellpadding="0" width="87%" style="border-collapse:collapse;margin-left:-41.65pt;width:87.68%;">
   <tr>
    <td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:7.58%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit<br>
    Number</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.22%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="90%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:90.2%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:7.58%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.1</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.22%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="90%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:90.2%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interim Employment
    Agreement by and between the Registrant and Joseph A. Mollica</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\carias\08-14253-1\task2936695\14253-1-ba.htm',USER='cariasb',CD='May 13 10:43 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Signatures</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the
  requirements of the Securities Exchange Act of 1934, the registrant has duly
  caused this report to be signed on its behalf by the undersigned hereunto duly
  authorized.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="50%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PHARMACOPEIA, INC.</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="50%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
    </td>
    <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:45.56%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Brian M. Posner</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="45%" valign="top" style="padding:0in .7pt 0in .7pt;width:45.56%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Brian M. Posner</font></p>
    </td>
   </tr>
   <tr>
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    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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    <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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    <td width="45%" valign="top" style="padding:0in .7pt 0in .7pt;width:45.56%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive Vice
    President, Chief Financial Officer and</font></p>
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    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="45%" valign="top" style="padding:0in .7pt 0in .7pt;width:45.56%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Treasurer</font></p>
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    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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    <td width="50%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;May&nbsp;13,
    2008</font></p>
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    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
  
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-14253_18k.htm", "description": "8-K", "secsgml_size_bytes": 45569}]
metadata_filer: {"company-data": {"conformed-name": "PHARMACOPEIA INC", "cik": "0001273013", "assigned-sic": "8731", "irs-number": "510418085", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50523", "film-number": "08827805"}, "business-address": {"street1": "P.O. BOX 5350", "city": "PRINCETON", "state": "NJ", "zip": "08543-5350", "phone": "609-452-3600"}, "mail-address": {"street1": "P.O. BOX 5350", "city": "PRINCETON", "state": "NJ", "zip": "08543-5350"}, "former-company": {"former-conformed-name": "PHARMACOPEIA DRUG DISCOVERY INC", "date-changed": "20031212"}}
text: UNITED
  STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the
  Securities Exchange Act of 1934
  Date of Report
  (Date of earliest event reported):
  May 7, 2008
  Pharmacopeia, Inc.
  (Exact name of
  registrant as specified in its charter)
  Delaware
  0-50523
  51-0418085
  (State or other
    jurisdiction of
  incorporation or organization)
  (Commission
  File Number)
  (I.R.S. Employer
  Identification No.)
  PO
    Box 5350, Princeton, New Jersey
  08543-5350
  (Address of
    principal executive offices)
  (Zip Code)
  (609)
  452-3600
  (Registrant's
  telephone number, including area code)
  Not
  Applicable
  (Former name,
  former address and former fiscal year, if changed since last report)
  Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the
  filing obligation of the registrant under any of the following provisions:
  o
  Written communications
    pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  o
  Soliciting material
    pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  o
  Pre-commencement
    communications pursuant to Rule 14d-2(b) under the Exchange Act (17
    CFR 240.14d-2(b))
  o
  Pre-commencement
    communications pursuant to Rule 13e-4(c) under the Exchange Act (17
    CFR 240.13e-4(c))
  Section 5
  – Corporate Governance and Management
  Item
  5.02  Departure of Directors or Principal
  Officers; Election of Directors; Appointment of Principal Officers;
  Compensatory Arrangements of Certain Officers.
  (e)
  Restricted Stock Awards:
  On May 7,
  2008, the Compensation Committee (the "Compensation Committee") of the Board of
  Directors (the "Board") of Pharmacopeia, Inc. (the "Company"), granted the
  following restricted stock awards to the Company's principal executive officer,
  principal financial officer and other named executive officers:
  Name
    and Principal Position
  Restricted Stock Awards
  Joseph A. Mollica
  Chairman of the Board and Interim President and Chief Executive Officer
  55,000
  Rene Belder
  Senior Vice President, Clinical Development
  40,000
  Stephen C. Costalas
  Executive Vice President and General Counsel
  35,000
  Brian M. Posner
  Executive Vice President and Chief Financial Officer
  30,000
  The restricted
  stock awards were issued pursuant to the terms of the Company's Amended and
  Restated 2004 Stock Incentive Plan, as amended from time to time (the "2004
  Plan"), as incentive awards to the executive officers based on the fair market
  value of the Common Stock on May 7, 2008, as defined in the 2004 Plan, of
  $3.47.  Dr. Mollica's award was granted to him pursuant to his
  interim employment agreement with the Company described below and it will vest
  in four equal tranches upon the achievement of four different performance
  metrics.   The other restricted stock
  awards will vest as follows:  fifty
  percent (50%) on December 31, 2008 and the remainder on June 1, 2009,
  provided that the executive continues employment with the Company from the date
  of the grant through the vesting date or the occurrence of an event enumerated
  below.
  In the event of
  termination of employment of the executive officer by reason of death,
  disability, or retirement, or involuntary termination of employment by the
  Company without Cause (as defined in the 2004 Plan), the restricted stock
  awards will vest fully and, in the event of termination for any other reason,
  any unvested restricted stock awards will automatically terminate and be
  forfeited as of the date of the executive's termination of employment.  The restricted stock may not, among other
  things, be encumbered by the executive officer in favor of any party or
  assigned or transferred by the executive officer otherwise than by will or the
  laws of descent and distribution.   Upon
  a Change in Control (as defined in the 2004 Plan), the outstanding stock awards
  will become immediately and fully vested, unless the restricted stock awards
  are assumed by the successor corporation and are substituted with restricted
  stock awards involving the common stock of the successor corporation with
  equivalent value and on terms and conditions no less favorable than those of
  the restricted stock awards described above.
  Once the
  restricted stock awards are vested, the executive officer shall have all of the
  rights of a stockholder of the Company with respect to the restricted stock,
  including voting rights.  Irrespective of
  whether the restricted stock awards are vested or unvested, if any cash
  dividends are paid with respect to shares of the Company's common stock, the
  Company will pay the executive officer, in cash, the amount of dividend that
  would have been distributed if the shares of restricted stock credited to the
  executive officer's account at the time of such dividend payment were
  unrestricted shares of common stock.  The
  shares of restricted stock were issued to the executive officers pursuant to a
  registration statement on file with the Securities and Exchange Commission.
  2
  Interim Employment Agreement:
  On May 12,
  2008, the Company entered into an Interim Employment Agreement (the "Interim
  Employment Agreement") with Joseph A. Mollica, Ph.D., the Company's Chairman of
  the Board and Interim President and Chief Executive Officer.  The Interim Employment Agreement is effective
  as of April 10, 2008 and the term (the "Term") will continue for three
  months following the date on which a successor President and Chief Executive
  Officer of the Company commences his or her employment ("Successor Commencement
  Date").  On the Successor Commencement
  Date, Dr. Mollica will resign as the Company's Chairman of the Board but
  he may, at his option, continue to serve as a Class II director on the
  Board for the remainder of his current Class II director term, which
  expires at the 2009 annual meeting of stockholders.
  During the Term, Dr. Mollica
  will be paid an annual salary of $405,000 ("Base Salary") for his service (i) as
  Chairman of the Board and Interim President and Chief Executive Officer prior
  to the Successor Commencement Date and (ii) assisting with, at the Company's
  option, a three-month transition period beginning with the Successor
  Commencement Date.  Following the
  conclusion of the Term, Dr. Mollica's compensation will revert to an
  annualized amount of $100,000, the level of compensation he had been receiving
  as Chairman of the Board.  This
  compensation will be paid in monthly installments through April 30, 2009.
  For calendar year
  2008, Dr. Mollica will be eligible to participate in the Company's Bonus
  Program for Senior Management for calendar year 2008 (the "2008 Bonus Program").  His annual bonus target ("Target Bonus")
  under the 2008 Bonus Program will be nine-twelfths (9/12) of fifty percent
  (50%) of his Base Salary and payments to him under the 2008 Bonus Program will
  be determined based on the Company's actual performance versus approved
  corporate goals and objectives for 2008. 
  Dr. Mollica will remain eligible for bonus payments under the 2008
  Bonus Program even if his employment under the Interim Employment Agreement
  ends prior to December 31, 2008, provided that the Compensation Committee
  determines that he assisted in the successful identification and retention of a
  successor President and Chief Executive Officer and in a successful transition
  period.  If Dr. Mollica's employment
  with the Company under this agreement extends into 2009, the Company and he
  have agreed to meet to negotiate an appropriate bonus arrangement for 2009.
  In recognition of Dr. Mollica's
  agreement to serve as Interim President and Chief Executive Officer, (i) he
  was granted 55,000 restricted stock awards pursuant to the 2004 Plan, as
  described above, and (ii) all of his outstanding stock option agreements
  with the Company to purchase shares of Company common stock will be amended to
  provide that unless Dr. Mollica is terminated for Cause (as defined in the
  Interim Employment Agreement) or he voluntarily terminates his employment, he
  will be permitted to exercise the options that vest under such agreements for
  the full remainder of the respective terms of such options, irrespective of his
  status with the Company at the proposed time of exercise.
  The Interim
  Employment Agreement may be terminated by either party for any reason on ninety
  days' notice.  Dr. Mollica's
  employment may be terminated for Cause, under the Interim Employment Agreement,
  at any time upon delivery of written notice of such termination and he will not
  be entitled to receive a pro-rata bonus for the calendar year in which such
  termination occurs.  If Dr. Mollica's
  employment is terminated without Cause in connection with a Change of Control
  (as defined in the Interim Employment Agreement), (i) the Company will pay
  Dr. Mollica a lump sum equal to two times the amount of his annual Base
  Salary then in effect, (ii) all of Dr. Mollica's unvested stock
  options will immediately vest, (iii) Dr. Mollica will receive a lump
  sum payment equal to two times the Target Bonus and (iv) the Company will
  pay Dr. Mollica all other accrued, but unpaid, compensation up to the date
  of his termination.
  A copy of the
  Interim Employment Agreement is attached to this Report as Exhibit 10.1
  and the foregoing summary is qualified in its entirety by the agreement as
  attached hereto.
  3
  Section 8 – Other
  Events
  Item
  8.01 Other Events.
  On April 30,
  2008, the independent members of the Board elected Bruce A. Peacock to serve as
  the Board's lead independent director as of May 8, 2008.  Mr. Peacock is one of the Company's Class III
  Directors and he has served as a Company director since April 2004.
  Section 9 – Financial
  Statement and Exhibits
  Item
  9.01 Financial Statements and Exhibits.
  (d)
  Exhibits
  Exhibit
  Number
  Description
  10.1
  Interim Employment
    Agreement by and between the Registrant and Joseph A. Mollica
  4
  Signatures
  Pursuant to the
  requirements of the Securities Exchange Act of 1934, the registrant has duly
  caused this report to be signed on its behalf by the undersigned hereunto duly
  authorized.
  PHARMACOPEIA, INC.
  By:
  /s/ Brian M. Posner
  Brian M. Posner
  Executive Vice
    President, Chief Financial Officer and
  Treasurer
  Date:        May 13,
    2008
  5