Form 4 – Statement of Changes in Beneficial Ownership – EDGAR Services Provided by St Ives Burrups
FORM 4
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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1. Name and Address of Reporting Person *

Dixon Rosina B.
(Last)        (First)        (Middle)
 2. Issuer Name ENZON PHARMACEUTICALS, INC.
     and Ticker or Trading Symbol (ENZN)
 
 
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director                          10% Owner
 Officer (give title below)  Other (specify below)


c/o Enzon Pharmaceuticals, Inc.
685 Route 202/206
3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (Voluntary)
 
 
 4. Statement for
    Month/Day/Year


4/7/03

(Street)

Bridgewater, New Jersey 08807
5. If Amendment,
    Date of Original
    (Month/Day/Year)


7. Individual or Joint/Group
    Filing (Check Applicable Line)

 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. Owner-
    ship
    Form:
    Direct
    (D) or
    Indirect (I)

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

     (Instr. 4)
Code
V
Amount
(A) or (D)
Price
Common Stock  4/7/03    M    342(1)  A    26,886  D   
                500  I  By Husband 
                100  I  By Son 
Explanation of Responses:  
1. This is the aggregate number of shares of common stock issued to the director upon the exercise of the Common Stock Rights described in further detail on Table II, and is qualified under Rule 16b-3(d).
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.  
* If the form is filed by more than one reporting person, see Instruction 4(b)(v). (Over)
    Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Control Number.  
Form 4
(continued)		 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. Conver-
    sion or
    Exer-
    cise
    Price of
    Deriva-
    tive
    Security
3. Trans-
    action
    Date

    (Month/
    Day/
    Year)
3A. Deemed
      Execu-
      tion
      Date, 
      if any

      (Month/
      Day/
      Year)
 4. Trans-
    action
    Code
    (Instr. 8) 		5. Number
    of Deri-
    vative
    Securities
    Acquired
    (A) or
    Disposed
    of (D)

    (Instr. 3, 4
    and 5)
6. Date
    Exercis-
    able
    (DE) and
    Expiration
    Date (ED)
    (Month/
    Day/
    Year)
7. Title and
    Amount of
    Underlying
    Securities
    (Instr. 3
    and 4)
 8. Price of
     Deriv-
     ative
     Security
     (Instr. 5)
 9. Number
    of Deri-
    vative
    Securi-
    ties
    Benefi-
    cially
    Owned
    Follow-
    ing
    Reported
    Trans-
    action(s)

    (Instr. 4)		 10. Owner-
      ship
      Form of
      Deriv-
      ative
      Security:
      Direct
      (D) or
      Indirect
      (I)

      (Instr. 4) 		11. Nature of
      Indirect
      Benefi-
      cial
      Owner-
      ship
      (Instr. 4)
Code
V
(A)
(D)
DE
ED
   Title   
Amount
or
Number
of
Shares
Common Stock Right(1)  1-for-1  4/7/03    M      80  See Footnote 1  See Footnote 1  Common Stock  80    0  D   
Common Stock Right(2)  1-for-1  4/7/03    M      182  See Footnote 2  See Footnote 2  Common Stock  182    0  D   
Common Stock Right(3)  1-for-1  4/7/03    M      182  See Footnote 3  See Footnote 3  Common Stock  182    0  D   
Common Stock Right(4)  1-for-1  4/7/03    M      240  See Footnote 4  See Footnote 4  Common Stock  240    0  D   
Explanation of Responses:
Explanation of Responses:
1. Securities granted by Enzon Pharmaceuticals, Inc. pursuant to Enzon‘s 2001 Incentive Stock Plan as compensation for service as an Independent Director during the quarter ended March 31, 2002 and qualified under Rule 16b-3(d). The value of the compensation was $3,500. Each Common Stock right is exchangeable for one share of Common Stock or cash with the price per right being $44.25, the fair market value of Enzon‘s common stock on March 31, 2002. On April 7, 2003, the director elected to receive cash for 50% of the rights.
2. Securities granted by Enzon Pharmaceuticals, Inc. pursuant to Enzon‘s 2001 Incentive Stock Plan as compensation for service as an Independent Director during the quarter ended June 30, 2002 and qualified under Rule 16b-3(d). The value of the compensation was $4,000. Each Common Stock right is exchangeable for one share of Common Stock or cash with the price per right being $22.05, the fair market value of Enzon‘s common stock on June 30, 2002. On April 7, 2003, the director elected to receive cash for 50% of the rights.
3. Securities granted by Enzon Pharmaceuticals, Inc. pursuant to Enzon‘s 2001 Incentive Stock Plan as compensation for service as an Independent Director during the quarter ended September 30, 2002 and qualified under Rule 16b-3(d). The value of the compensation was $3,500. Each Common Stock right is exchangeable for one share of Common Stock or cash with the price per right being $19.24, the fair market value of Enzon‘s common stock on September 30, 2002. On April 7, 2003, the director elected to receive cash for 50% of the rights.
4. Securities granted by Enzon Pharmaceuticals, Inc. pursuant to Enzon‘s 2001 Incentive Stock Plan as compensation for service as an Independent Director during the quarter ended December 31, 2002 and qualified under Rule 16b-3(d). The value of the compensation was $4,000. Each Common Stock right is exchangeable for one share of Common Stock or cash with the price per right being $16.72, the fair market value of Enzon‘s common stock on December 31, 2002. On April 7, 2003, the director elected to receive cash for 50% of the rights.
       
  /s/ Kenneth J. Zuerblis   4/09/03
 
 
  ** Signature of Reporting Person   Date
   
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See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). 		 
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