Edgar Filing: GENENCOR INTERNATIONAL INC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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3235-0287

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January 31, 2005

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

PEKICH THOMAS J

2. Issuer Name and Ticker or Trading Symbol
GENENCOR INTERNATIONAL INC [GCOR]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Group VP-Bioproducts

(Last)

(First)

(Middle)

925 PAGE MILL ROAD

3. Date of Earliest Transaction (Month/Day/Year)
04/20/2005

(Street)

PALO ALTO, CA 94304

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $.01 par value	04/20/2005		U⁽¹⁾		10,683 ⁽¹⁾	D	$ 19.25 ⁽¹⁾	0	D
Common Stock, $.01 par value	04/21/2005		U⁽²⁾		8,100 ⁽²⁾	D	$ 19.25 ⁽²⁾	0	D
Common Stock, $.01 par value	04/20/2005		U⁽¹⁾		1,100 ⁽¹⁾	D	$ 19.25 ⁽¹⁾	0	I	By Wife
Common Stock, $.01 par value	04/20/2005		U⁽¹⁾		1,100 ⁽¹⁾	D	$ 19.25 ⁽¹⁾	0	I	Custodian for Daughter
Common Stock, $.01 par value	04/20/2005		U⁽¹⁾		1,100 ⁽¹⁾	D	$ 19.25 ⁽¹⁾	0	I	Custodian for Son

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (Right to Buy)

$ 10.77

04/21/2005

U⁽³⁾

206,817 ⁽³⁾

⁽³⁾

Common Stock, par value $.01 per share

206,817 ⁽³⁾

⁽³⁾

Stock Option (Right to Buy)

$ 14.52

04/21/2005

U⁽³⁾

52,000 ⁽³⁾

⁽³⁾

Common Stock, par value $.01 per share

52,000 ⁽³⁾

⁽³⁾

Stock Option (Right to Buy)

$ 16.23

04/21/2005

U⁽³⁾

60,000 ⁽³⁾

⁽³⁾

Common Stock, par value $.01 per share

60,000 ⁽³⁾

⁽³⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
PEKICH THOMAS J 925 PAGE MILL ROAD PALO ALTO, CA 94304			Group VP-Bioproducts

Signatures

Mark D. Buri, Attorney-in-fact for Thomas J. Pekich		04/21/2005
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On 1/27/05, Genencor International, Inc. (the "Company"), Danisco A/S ("Danisco") and DH Subsidiary Inc., an indirect wholly-owned subsidiary of Danisco ("Acquisition Sub") entered into an Acquisition Agreement (the "Acquisition Agreement") providing for a cash tender offer to acquire all of the outstanding shares of common stock of the Company not otherwise owned by Danisco or its subsidiaries for $19.25 per share, to be followed by a merger of Acquisition Sub with and into the Company, with the Company to continue as the surviving corporation. These shares were accepted in the closing of the tender offer on 4/20/05.
(2)	Pursuant to the terms of the Acquisition Agreement, as of the effective time of the merger (5:00 PM EST on 4/21/05) (the "Effective Time of the Merger"), these restricted stock units will be cancelled and Mr. Pekich will be entitled to receive a cash payment in an amount equal to the number of restricted stock units credited to his account immediately before the Effective Time of the Merger multiplied by $19.25.
(3)	Pursuant to the terms of the Acquisition Agreement, as of the Effective Time of the Merger, these options will be cancelled and Mr. Pekich will be entitled to receive a cash payment in an amount equal to the difference between $19.25 (for options issued under the Company's Stock Option and Stock Appreciation Right Plan) or $19.27 (for options issued under the Company's 2002 Omnibus Incentive Plan) and the exercise price per share under the option multiplied by the number of shares covered by the option.

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