SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ^*
Bahcall Safi R

(Last) | (First) | (Middle)
C/O SYNTA PHARMACEUTICALS CORP.
45 HARTWELL AVENUE

(Street)
LEXINGTON | MA | 02421

(City) | (State) | (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/05/2007

3. Issuer Name and Ticker or Trading Symbol
SYNTA PHARMACEUTICALS CORP [ SNTA ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X | Director | | 10% Owner
X | Officer (give title below) | | Other (specify below)
President and CEO

5. If Amendment, Date of 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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock | 2,245,525^(1) | D |
Common Stock | 110,000^(1) | I | By trust^(2)(3)

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

1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | | | |
Employee Stock Option (Right to Buy) | ^(4) | 02/15/2015 | Common Stock | 37,500^(5) | 14^(5) | D | |
Employee Stock Option (Right to Buy) | ^(6) | 02/15/2016 | Common Stock | 50,000^(5) | 14^(5) | D | |
Explanation of Responses:
1. Reflects a 1-for-4 reverse stock split effected on February 2, 2007 in connection with the Issuer's initial public offering, pursuant to which the number of shares of Common Stock was divided by 4.
2. Of these shares, 15,000 are owned directly by the Safi R. Bahcall Irrevocable Trust and indirectly by the Reporting Person as the beneficiary of the trust; 24,250 are owned directly by the 2004 Neta Bahcall GRAT and indirectly by the Reporting Person as the trustee and a beneficiary of the trust; 40,750 are owned directly by the 2006 Neta Bahcall GRAT and indirectly by the Reporting Person as a beneficiary of the trust; 15,000 are owned directly by the Dan O. Bahcall Irrevocable Trust and indirectly by the Reporting Person as the brother of the beneficiary of the trust; and 15,000 are owned directly by the Orli G. Bahcall Irrevocable Trust and indirectly by the Reporting Person as the brother of the beneficiary of the trust.
3. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any, and the inclusion of these shares in this report shall not be deemed an admission of the beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
4. The option vested as to 25% of the shares on February 15, 2006 and as to an additional 6.25% of the shares on the last day of each calendar quarter thereafter.
5. Reflects a 1-for-4 reverse stock split effected on February 2, 2007 in connection with the Issuer's initial public offering pursuant to which (i) the number of shares of Common Stock underlying the option was divided by 4 and (ii) the exercise price of the option was multiplied by 4.
6. The option vests as to 25% of the shares on February 15, 2007 and as to an additional 6.25% of the shares on the last day of each calendar quarter thereafter.
| /s/ Ann Margaret Eames, Attorney-in-Fact | 02/05/2007
| ** Signature of Reporting Person | Date
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 5 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.

POWER OF ATTORNEY

Know all by these presents, that the undersigned 
hereby constitutes and appoints each of Safi R. Bahcall, 
Ph.D., the President and Chief Executive Officer of Synta 
Pharmaceuticals Corp. (the "Company"), Keith S. Ehrlich, 
the Vice President, Finance and Administration, Chief 
Financial Officer of the Company, and Wendy E. Rieder, 
the Vice President, Intellectual Property and Legal 
Affairs, General Counsel of the Company, and Brian Keane, 
Daniel T. Kajunski, and Ann Margaret Eames of Mintz, 
Levin, Cohn, Ferris, Glovsky and Popeo, P.C., signing 
singly, with full power of substitution, the 
undersigned's true and lawful attorney-in-fact to:

(1)     execute for and on behalf of the undersigned, 
in the undersigned's capacity as an officer, director 
and/or 10% shareholder of the Company, 
forms and authentication documents for EDGAR Filing     
Access;

(2)     do and perform any and all acts for and on 
behalf of the undersigned which may be necessary or     
desirable to complete and execute any such 
forms and authentication documents;

(3)     execute for and on behalf of the undersigned, 
in the undersigned's capacity as an officer, 
director and/or 10% shareholder of the 
Company, Forms 3, 4 and 5 in accordance with 
Section 16(a) of the Securities Exchange Act 
of 1934 and the rules thereunder;

(4)     do and perform any and all acts for and on 
behalf of the undersigned which may be 
necessary or desirable to complete and 
execute any such Form 3, 4 or 5 and timely 
file such form with the United States 
Securities and Exchange Commission and any 
stock exchange or similar authority; and

(5)     take any other action of any type whatsoever 
in connection with the foregoing which, in 
the opinion of such attorney-in-fact, may be 
of benefit to, in the best interests of, or 
legally required by the undersigned, it being 
understood that the documents executed by 
such attorney-in-fact on behalf of the 
undersigned pursuant to this Power of 
Attorney shall be in such form and shall 
contain such terms and conditions as such 
attorney-in-fact may approve in such 
attorney-in-fact's discretion.

The undersigned hereby grants to each such 
attorney-in-fact full power and authority to do and 
perform any and every act and thing whatsoever requisite, 
necessary, or proper to be done in the exercise of any of 
the rights and powers herein granted, as fully to all 
intents and purposes as the undersigned might or could do 
if personally present, with full power of substitution or 
revocation, hereby ratifying and confirming all that such 
attorney-in-fact, or such attorney-in-fact's substitute 
or substitutes, shall lawfully do or cause to be done by 
virtue of this power of attorney and the rights and 
powers herein granted.  The undersigned acknowledges that 
the foregoing attorneys-in-fact, in serving in such 
capacity at the request of the undersigned, are not 
assuming, nor is the Company assuming, any of the 
undersigned's responsibilities to comply with Section 16 
of the Securities Exchange Act of 1934, as amended.

This Power of Attorney shall remain in full force 
and effect until the undersigned is no longer required to 
file Forms 3, 4 and 5 with respect to the undersigned's 
holdings of and transactions in securities issued by the 
Company, unless earlier revoked by the undersigned in a 
signed writing delivered to the foregoing attorneys-in-
fact.

IN WITNESS WHEREOF, the undersigned has caused this 
Power of Attorney to be executed this 30th day of January
2007.

/s/ Safi Bahcall
Signature

Safi Bahcall
Print Name