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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(Print or Type Responses)
1. Name and Address of Reporting Person *
Vasisht Niraj
  2. Issuer Name and Ticker or Trading Symbol
BIODELIVERY SCIENCES INTERNATIONAL INC [BDSI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Technology Officer
(Last)
(First)
(Middle)
C/O BIODELIVERY SCIENCES INTL, INC.,, 4131 PARKLAKE AVENUE, SUITE 225
3. Date of Earliest Transaction (Month/Day/Year)
09/21/2016
(Street)

RALEIGH, NC 27612
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)
Code V Amount (A) or (D) Price
Common Stock 09/21/2016   A   4,661 A $ 0 (1) 73,081 D  
Common Stock 09/21/2016   M(2)   27,666 A $ 0 (2) 100,747 D  
Common Stock 09/21/2016   M(3)   16,667 A $ 0 (3) 117,414 D  
Common Stock 09/21/2016   M(4)   24,980 A $ 0 (4) 142,394 D  
Common Stock 09/21/2016   M(5)   66,667 A $ 0 (5) 209,061 D  
Common Stock 09/21/2016   S(6)   40,000 D $ 2.39 (7) 169,061 D  
Common Stock 09/23/2016   S(8)   7,000 D $ 2.68 (9) 162,061 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units $ 0 09/21/2016   M(2)     27,666 02/20/2016 09/21/2016 Common Stock 27,666 $ 0 0 D  
Restricted Stock Units $ 0 09/21/2016   M(3)     16,667 01/30/2016 01/30/2017 Common Stock 16,667 $ 0 16,666 D  
Restricted Stock Units $ 0 09/21/2016   M(4)     24,980 02/22/2016 02/22/2017 Common Stock 24,980 $ 0 24,980 D  
Restricted Stock Units $ 0 09/21/2016   M(5)     66,667 02/23/2016 02/23/2018 Common Stock 66,667 $ 0 133,333 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Vasisht Niraj
C/O BIODELIVERY SCIENCES INTL, INC.,
4131 PARKLAKE AVENUE, SUITE 225
RALEIGH, NC 27612
      Chief Technology Officer  

Signatures

 /s/ Niraj Vasisht   09/23/2016
**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) The shares of common stock reported on this Form 4 were acquired by the Reporting Person in connection with the vesting of Restricted Stock Units ("RSUs") granted to the Reporting Person under the Issuer's Long Term Incentive Plan. Pursuant to a deferral, these RSUs vested on September 21, 2016.
(2) The shares of common stock were acquired by the Reporting Person as a result of the vesting of 27,666 RSUs granted to the Reporting Person on February 20, 2013 under the Issuer's 2011 Equity Incentive Plan, as amended (the "Plan"). Pursuant to a deferral, these RSUs vested on September 21, 2016.
(3) The shares of common stock were acquired by the Reporting Person as a result of the vesting of one-half of the RSUs granted to the Reporting Person on January 30, 2014 under the Plan. Pursuant to a deferral, these RSUs vested on September 21, 2016. The remaining half of the RSUs under this grant will vest on January 30, 2017.
(4) The shares of common stock were acquired by the Reporting Person as a result of the vesting of one-half of the RSUs granted to the Reporting Person on February 22, 2014 under the Plan. Pursuant to a deferral, these RSUs vested on September 21, 2016. The remaining half of the RSUs under this grant will vest on February 22, 2017.
(5) The shares of common stock were acquired by the Reporting Person as a result of the vesting of one-third of the RSUs granted to the Reporting Person on February 23, 2015 under the Plan. Pursuant to a deferral, these RSUs vested on September 21, 2016. The remainder of the RSUs under this grant will vest in equal portions on each of (i) February 23, 2017 and (ii) February 23, 2018.
(6) The shares of common stock were sold under a pre-planned 10b5-1 trading plan and were sold to cover the Reporting Person's tax liability upon the vesting of RSUs.
(7) On September 21, 2016, the Reporting Person sold an aggregate of 40,000 shares of the Issuer's Common Stock at a weighted average price of $2.39 per share. The highest sale price for the Common Stock was $2.45 per share and the lowest sale price was $2.35 per share. The Reporting Person undertakes to provide the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(8) The shares of common stock were sold upon expiration of a pre-planned 10b5-1 trading plan, and were sold to cover the Reporting Person's additional tax liability upon the vesting of RSUs.
(9) On September 23, 2016, the Reporting Person sold an aggregate of 7,000 shares of the Issuer's Common Stock at a weighted average price of $2.68 per share. The highest sale price for the Common Stock was $2.81 per share and the lowest sale price was $2.58 per share. The Reporting Person undertakes to provide the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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