UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ( ) Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instructions 1(b). 1. Name and Address of Reporting Person Flom, Edward Leonard 4936 St. Croix Drive Tampa, FL 33629 2. Issuer Name and Ticker or Trading Symbol Outback Steakhouse, Inc. OSI 3. IRS or Social Security Number of Reporting Person (Voluntary) 263-36-4651 4. Statement for Month/Year 05/31/01 5. If Amendment, Date of Original (Month/Year) 06/04/01 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other (specify below) 7. 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 Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect | | Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership | | | | | Beneficially |(D)or | | | | | | | A/| | Owned at |Indir | | | Date |Code|V| Amount | D | Price | End of Month |ect(I)| | ___________________________________________________________________________________________________________________________________| Common Stock, par value $.0|5/18/0|G |V|3,300 |D |N/A |126,028 |D |(2) | 1 |1 | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of| Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect | |or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial | |cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership | |Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | | |Deriva- | | | |Date |Expir| | |ficially |Ind| | |tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| | |Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | | |rity |Date |Code|V| Amount | |ble | | | |Month |(I)| | ___________________________________________________________________________________________________________________________________| Phantom Stock Units |1-1 |- |- |-|- - |A,D|(1) |(1) |Common Stock|(1) |(1) |2,963.84(1) |D | | -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________| Explanation of Responses: (1) Derivative securities beneficially owned as of the end of reporting period include (i) 568.70 phantom stock units acquired in fiscal year 1997 of prices ranging from $15.840 to $17.669 to be settled 100% in the Company's common stock on May 1, 2003(2); (ii) 941.28 phantom stock units acquired in fiscal year 1998 of prices ranging from $18.070 to $24.697 to be settled 100% in the Company's common stock on May 1, 2003(2); (iii) 693.22 phantom stock units acquired in fiscal year 1999 of prices ranging from $25.33 to $36.68 to be settled 100% in the Company's common stock on May 1, 2003(2); and (iv) 760.64 phantom stock units acquired in fiscal year 2000 of prices ranging from $23.603 to $29.821 to be settled 100% in the Company's common stock on May 1, 2003. (2) The Form 4 as originally filed erroneously reported the amount of securities beneficially owned at the end of the month. As of May 31, 2001, the reporting person owned 126,028. SIGNATURE OF REPORTING PERSON Edward L. Flom DATE January 31, 2002