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
Brabson, Jr., John A.
100 North Tampa Street, Suite 2030
Tampa, FL 33602
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
04/23/03
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
___________________________________________________________________________________________________________________________________
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|- |- | |- |- |- |23,531(1) |D | |
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 |04/23|A |-|85.01 - |A,D|(2) |(2) |Common Stock|85.01 |$33.82 |2040.02(1)(3|D | |
| |/03 | | | | | | | | | |) | | |
-----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
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 ("Plan") and are settled 100% in the Company's
common stock upon cessation as a
director.
(3) Derivative securities beneficially owned as of the end of reporting period
include: (i) 439.26 phantom stock units acquired in fiscal year 1998 of prices
ranging from $18.070 to $24.697; (ii)
336.37 phantom stock units acquired in fiscal year 1999 at prices ranging from
$25.33 to $36.68; (iii) 378.49 phantom stock units acquired in fiscal year 2000
at prices ranging from $23.603 to
$29.821; (iv) 394.05 phantom stock units acquired in fiscal year 2001 at prices
ranging from $24.85 to $27.98; (v) 331.31 phantom stock units acquired in
fiscal year 2002 at prices ranging from
$28.00 to $37.38; and (vi) 75.53 phantom stock units acquired in fiscal year
2003 at prices ranging from $33.82 to $34.54, all such phantom stock units are
to be settled 100% in the Company's
common stock upon cessation as a director. The phantom stock units were accrued
under the Company's Plan.
SIGNATURE OF REPORTING PERSON
Joseph J. Kadow, Attorney-in-Fact
DATE
04-23-03