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
Carey, W. R.
280 Preston Oaks Drive, Suite A
Alpharetta, GA 30022
2. Issuer Name and Ticker or Trading Symbol
Outback Steakhouse, Inc.
OSI
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
01/22/03
5. If Amendment, Date of Original (Month/Year)
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
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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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)| |
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Common stock, par value $.0|- |- |-|- |- |- |0(1) |D | |
1 | | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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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)| |
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Phantom Stock Units |1-1 |01/22|A |-|137.52 - |A,D|(2) |(2) |Common Stock|137.52 |$34.54 |3625.15(1)(3|D | |
| |/03 | | | | | | | | | |) | | |
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Stock Option (right to|$10.67 |- |- |-|- - |A,D|(4) |01/27|Common Stock|45,000 |$10.67 |45,000(1) |D | |
buy) | | | | | | | |/03 | | | | | | |
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Explanation of Responses:
(1) Represents number of shares beneficially owned immediately after the
reported transaction.
(2) The phantom stock units were accrued under the Company's Deferred
Compensation and Stock Plan and are settled 100% in the Company's common stock
upon the reporting person's
cessation as a director of the Company.
(3) Derivative securities beneficially owned at end of year include: (i) 568.70
phantom stock units accrued in fiscal year 1997 ranging in stock prices from
$15.840 to $17.669, and are each settled
100% in the Company's common stock upon cessation as a director of the Company;
(ii) 466.93 phantom stock units accrued in fiscal year 1998 ranging in stock
prices from $18.070 to $24.697,
and are each settled 100% in the Company's common stock upon cessation as a
director of the Company; (iii) 336.37 phantom stock units accrued in fiscal
year 1999 ranging in stock prices from
$25.33 to $36.68, and are each settled 100% in the Company's common stock upon
cessation as a director of the Company; (iv) 650.79 phantom stock units accrued
in fiscal year 2000 ranging in
stock prices from $23.603 to $29.821, and are each settled 100% in the
Company's common stock upon cessation as a director of the Company; (iv) 788.10
phantom stock units accrued in fiscal
year 2001 ranging in stock prices from $24.85 to $27.98, and are each settled
100% in the Company's common stock upon cessation as a director of the Company;
and (v) 676.74 phantom stock
units accrued in fiscal year 2002 ranging in stock prices from $28.00 to
$37.38, and are each settled 100% in the Company's common stock upon cessation
as a director of the Company.
(4) Currently exercisable. The option vested in three equal annual installments
beginning on January 27, 1993.
SIGNATURE OF REPORTING PERSON
Joseph J. Kadow, Attorney-in-Fact
DATE
January 24, 2003