UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ____#3____)*
CHOICE HOTELS INTERNATIONAL, INC.
---------------------------------------------------------
(Name of Issuer)
Common Stock
----------------------------------------
(Title of Class of Securities)
169905-10-6
--------------------
(CUSIP Number)
Christine A. Shreve - 301-881-9854
11810 Parklawn Drive, Suite 200, Rockville, MD 20852
----------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 26, 2003
---------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b) (3) or (4), check the following box [_].
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 169905-10-6 13D Page 2 of 4
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Stewart Bainum Jane Bainum
S.S.#: 269-14-2118 S.S.#: 577-24-6494
2 Check the Appropriate Box if a Member of a Group*
(a) [X] (b) [_]
3 SEC Use Only
4 Source of Funds
N/A
5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(C) or 2(E) [_]
6 Citizenship or Place of Organization
USA
Number of Shares Beneficially
Owned by Each Reporting Person with:
7 Sole Voting Power 4,680,832
8 Shared Voting Power 3,567,869
9 Sole Dispositive Power 4,680,832
10 Shared Dispositive Power 3,567,869
11 Aggregate Amount Beneficially Owned by Each Reporting Person
8,248,701
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
13 Percent of Class Represented by Amount in Row (11)
22.85%
14 Type of Reporting Person
IN
CUSIP No. 169905-10-6 13D Page 3 of 4
Item 1. Security and Issuer
(a) Name of Issuer:
Choice Hotels International, Inc.
(b) Address of Issuer's Principal Executive Offices:
10750 Columbia Pike
Silver Spring, MD 20901
(c) Title and Class of Securities:
Common Stock
Item 2. Identity and Background
(a) Name:
Stewart Bainum
Jane Bainum
(b) Business Address:
10770 Columbia Pike, Suite 100
Silver Spring, MD 20901
(c) Present Principal Employment:
President, Realty Investment Company, Inc.
10770 Columbia Pike, Suite 100
Silver Spring, MD 20901
(d) Record of Convictions:
During the last five years, the Reporting Person has not been
convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors.)
(e) Record of Civil Proceedings:
During the last five years, the Reporting Person was not a
party to a civil proceeding of a judicial or administrative
body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or
mandating such activities subject to, federal or state
securities laws or finding any violation with respect to such
laws.
(f) Citizenship:
Reporting Person is a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration
N/A
Item 4. Purpose of Transaction
During the period March 7, 2003 through March 24, 2003 420,865 shares
were sold by the Reporting Person.
Item 5. Interest in Securities of the Issuer
(a) Amount and percentage beneficially owned:
Reporting Person:
8,248,701 shares, including 3,768,921 shares held directly by
the Stewart Bainum Declaration of Trust ("SB Trust"), of which
Mr. Bainum is the sole trustee and beneficiary; 3,567,869
shares held directly by Realty Investment Company, a real
estate management and investment company in which the SB Trust
and the Jane L. Bainum Declaration of Trust ("JB Trust")are
stockholders and Mr. Bainum is President and Chairman of the
Board of Directors and has shared voting authority; 112,200
shares held by Cambridge Investment Co. LLC, a family
investment entity of which Mr. Bainum is the Managing Member
and has sole voting authority. Also includes 798,711 shares
held by the JB Trust, the sole trustee and beneficiary of which
is Mr. Bainum's wife. Also includes 1,000 shares which Mr.
Bainum has the right to acquire pursuant to stock options which
are presently exercisable or which become exercisable within
sixty days.
CUSIP No. 169905-10-6 13D Page 4 of 4
(b) Number of shares as to which such person has:
(i) Sole Voting Power 4,680,832
(ii) Shared Voting Power 3,567,869
(iii) Sole Dispositive Power 4,680,832
(iv) Shared Dispositive Power 3,567,832
(c) A schedule of transactions effected in the last sixty days is
as follows:
Sold 1,200 Shares 03/07/2003 $24.55
Sold 1,400 Shares 03/07/2003 $24.50
Sold 1,000 Shares 03/07/2003 $24.54
Sold 1,500 Shares 03/07/2003 $24.53
Sold 500 Shares 03/07/2003 $24.56
Sold 1,600 Shares 03/07/2003 $24.59
Sold 1,000 Shares 03/07/2003 $24.60
Sold 1,000 Shares 03/07/2003 $24.61
Sold 500 Shares 03/07/2003 $24.58
Sold 500 Shares 03/07/2003 $24.62
Sold 500 Shares 03/07/2003 $24.65
Sold 248,000 Shares 03/10/2003 $24.50
Sold 100 Shares 03/10/2003 $24.50
Sold 100 Shares 03/10/2003 $24.50
Sold 200 Shares 03/10/2003 $24.50
Sold 100 Shares 03/10/2003 $24.50
Sold 400 Shares 03/10/2003 $24.50
Sold 100 Shares 03/10/2003 $24.50
Sold 100 Shares 03/10/2003 $24.50
Sold 300 Shares 03/10/2003 $24.50
Sold 400 Shares 03/10/2003 $24.50
Sold 400 Shares 03/10/2003 $24.60
Sold 100 Shares 03/10/2003 $24.60
Sold 500 Shares 03/10/2003 $24.65
Sold 700 Shares 03/17/2003 $24.56
Sold 400 Shares 03/17/2003 $24.60
Sold 100 Shares 03/17/2003 $24.61
Sold 400 Shares 03/17/2003 $24.61
Sold 100 Shares 03/17/2003 $24.60
Sold 100 Shares 03/17/2003 $24.60
Sold 100 Shares 03/17/2003 $24.60
Sold 200 Shares 03/17/2003 $24.60
Sold 100 Shares 03/17/2003 $24.60
Sold 100 Shares 03/17/2003 $24.60
Sold 100 Shares 03/17/2003 $24.60
Sold 200 Shares 03/17/2003 $24.60
Sold 1,000 Shares 03/17/2003 $24.58
Sold 100 Shares 03/17/2003 $24.57
Sold 100 Shares 03/17/2003 $24.58
Sold 400 Shares 03/17/2003 $24.58
Sold 500 Shares 03/17/2003 $24.54
Sold 100 Shares 03/17/2003 $24.54
Sold 200 Shares 03/17/2003 $24.56
Sold 100 Shares 03/17/2003 $24.56
Sold 1,000 Shares 03/17/2003 $24.53
Sold 1,000 Shares 03/17/2003 $24.54
Sold 200 Shares 03/17/2003 $24.50
Sold 100 Shares 03/17/2003 $24.50
Sold 100 Shares 03/17/2003 $24.50
Sold 100 Shares 03/17/2003 $24.50
Sold 100 Shares 03/17/2003 $24.50
Sold 100 Shares 03/17/2003 $24.50
Sold 100 Shares 03/17/2003 $24.50
Sold 100 Shares 03/17/2003 $24.50
Sold 100 Shares 03/17/2003 $24.50
Sold 1,500 Shares 03/17/2003 $24.50
Sold 100 Shares 03/18/2003 $24.63
Sold 400 Shares 03/18/2003 $24.54
Sold 100 Shares 03/18/2003 $24.54
Sold 1,000 Shares 03/18/2003 $24.50
Sold 900 Shares 03/18/2003 $24.50
Sold 100 Shares 03/18/2003 $24.50
Sold 700 Shares 03/18/2003 $24.58
Sold 300 Shares 03/18/2003 $24.59
Sold 100 Shares 03/18/2003 $24.60
Sold 100 Shares 03/18/2003 $24.60
Sold 300 Shares 03/18/2003 $24.60
Sold 100 Shares 03/18/2003 $24.60
Sold 300 Shares 03/18/2003 $24.60
Sold 1,000 Shares 03/18/2003 $24.54
Sold 200 Shares 03/18/2003 $24.55
Sold 100 Shares 03/18/2003 $24.55
Sold 100 Shares 03/18/2003 $24.55
Sold 100 Shares 03/18/2003 $24.55
Sold 300 Shares 03/18/2003 $24.54
Sold 100 Shares 03/18/2003 $24.54
Sold 100 Shares 03/18/2003 $24.54
Sold 500 Shares 03/18/2003 $24.54
Sold 300 Shares 03/18/2003 $24.50
Sold 300 Shares 03/18/2003 $24.50
Sold 100 Shares 03/18/2003 $24.50
Sold 100 Shares 03/18/2003 $24.50
Sold 1,000 Shares 03/18/2003 $24.67
Sold 1,000 Shares 03/18/2003 $24.66
Sold 700 Shares 03/18/2003 $24.66
Sold 100 Shares 03/18/2003 $24.65
Sold 100 Shares 03/18/2003 $24.65
Sold 300 Shares 03/18/2003 $24.65
Sold 300 Shares 03/18/2003 $24.70
Sold 400 Shares 03/18/2003 $24.69
Sold 500 Shares 03/18/2003 $24.67
Sold 2,800 Shares 03/18/2003 $24.67
Sold 2,500 Shares 03/18/2003 $24.67
Sold 500 Shares 03/18/2003 $24.66
Sold 800 Shares 03/18/2003 $24.65
Sold 800 Shares 03/18/2003 $24.65
Sold 200 Shares 03/18/2003 $24.65
Sold 800 Shares 03/18/2003 $24.58
Sold 200 Shares 03/18/2003 $24.58
Sold 300 Shares 03/18/2003 $24.58
Sold 300 Shares 03/18/2003 $24.57
Sold 2,700 Shares 03/18/2003 $24.58
Sold 100 Shares 03/18/2003 $24.60
Sold 100 Shares 03/18/2003 $24.60
Sold 300 Shares 03/18/2003 $24.55
Sold 100 Shares 03/18/2003 $24.54
Sold 200 Shares 03/18/2003 $24.55
Sold 100 Shares 03/18/2003 $24.50
Sold 100 Shares 03/18/2003 $24.50
Sold 100 Shares 03/18/2003 $24.50
Sold 100 Shares 03/18/2003 $24.50
Sold 200 Shares 03/18/2003 $24.52
Sold 1,200 Shares 03/18/2003 $24.50
Sold 1,000 Shares 03/19/2003 $24.77
Sold 100 Shares 03/19/2003 $24.76
Sold 100 Shares 03/19/2003 $24.76
Sold 200 Shares 03/19/2003 $24.76
Sold 100 Shares 03/19/2003 $24.76
Sold 400 Shares 03/19/2003 $24.76
Sold 100 Shares 03/19/2003 $24.76
Sold 1,000 Shares 03/19/2003 $24.74
Sold 1,000 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 1,500 Shares 03/19/2003 $24.74
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 200 Shares 03/19/2003 $24.74
Sold 300 Shares 03/19/2003 $24.74
Sold 200 Shares 03/19/2003 $24.74
Sold 200 Shares 03/19/2003 $24.74
Sold 100 Shares 03/19/2003 $24.74
Sold 200 Shares 03/19/2003 $24.66
Sold 400 Shares 03/19/2003 $24.66
Sold 400 Shares 03/19/2003 $24.66
Sold 100 Shares 03/19/2003 $24.66
Sold 300 Shares 03/19/2003 $24.67
Sold 400 Shares 03/19/2003 $24.67
Sold 100 Shares 03/19/2003 $24.67
Sold 1,000 Shares 03/19/2003 $24.64
Sold 1,000 Shares 03/19/2003 $24.72
Sold 500 Shares 03/19/2003 $24.75
Sold 400 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 500 Shares 03/19/2003 $24.69
Sold 100 Shares 03/19/2003 $24.69
Sold 1,100 Shares 03/19/2003 $24.69
Sold 700 Shares 03/19/2003 $24.68
Sold 100 Shares 03/19/2003 $24.68
Sold 100 Shares 03/19/2003 $24.68
Sold 100 Shares 03/19/2003 $24.68
Sold 700 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.76
Sold 800 Shares 03/19/2003 $24.76
Sold 200 Shares 03/19/2003 $24.76
Sold 600 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.72
Sold 500 Shares 03/19/2003 $24.70
Sold 100 Shares 03/19/2003 $24.70
Sold 900 Shares 03/19/2003 $24.70
Sold 800 Shares 03/19/2003 $24.75
Sold 500 Shares 03/19/2003 $24.75
Sold 500 Shares 03/19/2003 $24.76
Sold 200 Shares 03/19/2003 $24.82
Sold 200 Shares 03/19/2003 $24.82
Sold 500 Shares 03/19/2003 $24.80
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.75
Sold 100 Shares 03/19/2003 $24.70
Sold 100 Shares 03/19/2003 $24.70
Sold 100 Shares 03/19/2003 $24.70
Sold 100 Shares 03/19/2003 $24.70
Sold 100 Shares 03/19/2003 $24.70
Sold 900 Shares 03/19/2003 $24.69
Sold 100 Shares 03/19/2003 $24.69
Sold 500 Shares 03/19/2003 $24.69
Sold 500 Shares 03/19/2003 $24.65
Sold 200 Shares 03/19/2003 $24.59
Sold 1,000 Shares 03/19/2003 $24.70
Sold 700 Shares 03/19/2003 $24.63
Sold 200 Shares 03/19/2003 $24.63
Sold 100 Shares 03/19/2003 $24.63
Sold 400 Shares 03/19/2003 $24.60
Sold 500 Shares 03/19/2003 $24.59
Sold 500 Shares 03/19/2003 $24.59
Sold 100 Shares 03/19/2003 $24.60
Sold 100 Shares 03/19/2003 $24.60
Sold 100 Shares 03/19/2003 $24.60
Sold 100 Shares 03/19/2003 $24.60
Sold 200 Shares 03/19/2003 $24.60
Sold 100 Shares 03/19/2003 $24.56
Sold 800 Shares 03/19/2003 $24.61
Sold 200 Shares 03/19/2003 $24.55
Sold 300 Shares 03/19/2003 $24.55
Sold 500 Shares 03/19/2003 $24.55
Sold 500 Shares 03/19/2003 $24.54
Sold 500 Shares 03/19/2003 $24.53
Sold 600 Shares 03/19/2003 $24.54
Sold 100 Shares 03/19/2003 $24.54
Sold 200 Shares 03/19/2003 $24.54
Sold 100 Shares 03/19/2003 $24.54
Sold 100 Shares 03/19/2003 $24.50
Sold 300 Shares 03/19/2003 $24.54
Sold 600 Shares 03/19/2003 $24.54
Sold 100 Shares 03/19/2003 $24.54
Sold 1,000 Shares 03/19/2003 $24.53
Sold 400 Shares 03/19/2003 $24.54
Sold 600 Shares 03/19/2003 $24.54
Sold 900 Shares 03/19/2003 $24.50
Sold 100 Shares 03/19/2003 $24.50
Sold 100 Shares 03/19/2003 $24.53
Sold 200 Shares 03/19/2003 $24.53
Sold 200 Shares 03/19/2003 $24.53
Sold 100 Shares 03/19/2003 $24.53
Sold 100 Shares 03/19/2003 $24.50
Sold 100 Shares 03/19/2003 $24.50
Sold 100 Shares 03/19/2003 $24.50
Sold 100 Shares 03/19/2003 $24.50
Sold 400 Shares 03/19/2003 $24.50
Sold 100 Shares 03/19/2003 $24.50
Sold 100 Shares 03/19/2003 $24.50
Sold 400 Shares 03/19/2003 $24.53
Sold 800 Shares 03/20/2003 $25.00
Sold 100 Shares 03/20/2003 $25.00
Sold 100 Shares 03/20/2003 $25.00
Sold 100 Shares 03/20/2003 $25.00
Sold 100 Shares 03/20/2003 $25.00
Sold 100 Shares 03/20/2003 $25.00
Sold 100 Shares 03/20/2003 $25.00
Sold 100 Shares 03/20/2003 $25.00
Sold 700 Shares 03/20/2003 $24.99
Sold 200 Shares 03/20/2003 $25.00
Sold 100 Shares 03/20/2003 $25.00
Sold 300 Shares 03/20/2003 $25.00
Sold 400 Shares 03/20/2003 $25.00
Sold 500 Shares 03/20/2003 $25.00
Sold 100 Shares 03/20/2003 $25.00
Sold 100 Shares 03/20/2003 $25.00
Sold 300 Shares 03/20/2003 $25.00
Sold 1,000 Shares 03/20/2003 $24.98
Sold 1,000 Shares 03/20/2003 $24.99
Sold 400 Shares 03/20/2003 $24.99
Sold 800 Shares 03/20/2003 $24.99
Sold 100 Shares 03/20/2003 $24.99
Sold 100 Shares 03/20/2003 $24.99
Sold 100 Shares 03/20/2003 $24.99
Sold 100 Shares 03/20/2003 $24.99
Sold 1,200 Shares 03/20/2003 $24.99
Sold 600 Shares 03/20/2003 $24.93
Sold 300 Shares 03/20/2003 $24.93
Sold 100 Shares 03/20/2003 $24.93
Sold 100 Shares 03/20/2003 $24.97
Sold 900 Shares 03/20/2003 $24.97
Sold 300 Shares 03/20/2003 $24.98
Sold 1,500 Shares 03/20/2003 $24.99
Sold 2,000 Shares 03/20/2003 $24.99
Sold 1,000 Shares 03/20/2003 $24.99
Sold 200 Shares 03/20/2003 $24.99
Sold 200 Shares 03/20/2003 $24.99
Sold 100 Shares 03/20/2003 $24.99
Sold 500 Shares 03/20/2003 $24.99
Sold 200 Shares 03/20/2003 $24.98
Sold 300 Shares 03/20/2003 $24.98
Sold 100 Shares 03/20/2003 $24.96
Sold 500 Shares 03/20/2003 $24.98
Sold 100 Shares 03/20/2003 $24.95
Sold 100 Shares 03/20/2003 $24.95
Sold 100 Shares 03/20/2003 $24.95
Sold 600 Shares 03/20/2003 $24.95
Sold 100 Shares 03/20/2003 $24.95
Sold 100 Shares 03/20/2003 $24.95
Sold 100 Shares 03/20/2003 $24.95
Sold 200 Shares 03/20/2003 $24.95
Sold 100 Shares 03/20/2003 $24.90
Sold 100 Shares 03/20/2003 $24.90
Sold 300 Shares 03/20/2003 $24.90
Sold 100 Shares 03/20/2003 $24.90
Sold 500 Shares 03/20/2003 $24.83
Sold 400 Shares 03/20/2003 $24.82
Sold 100 Shares 03/20/2003 $24.82
Sold 200 Shares 03/20/2003 $24.82
Sold 200 Shares 03/20/2003 $24.82
Sold 400 Shares 03/20/2003 $24.80
Sold 100 Shares 03/20/2003 $24.77
Sold 100 Shares 03/20/2003 $24.77
Sold 200 Shares 03/20/2003 $24.77
Sold 300 Shares 03/20/2003 $24.75
Sold 100 Shares 03/20/2003 $24.75
Sold 400 Shares 03/20/2003 $24.75
Sold 200 Shares 03/20/2003 $24.75
Sold 700 Shares 03/20/2003 $24.75
Sold 800 Shares 03/20/2003 $24.75
Sold 300 Shares 03/20/2003 $24.72
Sold 1,000 Shares 03/20/2003 $24.69
Sold 100 Shares 03/20/2003 $24.70
Sold 900 Shares 03/20/2003 $24.70
Sold 100 Shares 03/20/2003 $24.70
Sold 100 Shares 03/20/2003 $24.70
Sold 300 Shares 03/20/2003 $24.70
Sold 100 Shares 03/20/2003 $24.77
Sold 100 Shares 03/20/2003 $24.77
Sold 500 Shares 03/20/2003 $24.72
Sold 100 Shares 03/20/2003 $24.70
Sold 200 Shares 03/20/2003 $24.70
Sold 400 Shares 03/20/2003 $24.70
Sold 100 Shares 03/20/2003 $24.70
Sold 200 Shares 03/20/2003 $24.70
Sold 200 Shares 03/20/2003 $24.60
Sold 100 Shares 03/20/2003 $24.60
Sold 100 Shares 03/20/2003 $24.60
Sold 100 Shares 03/20/2003 $24.60
Sold 100 Shares 03/20/2003 $24.55
Sold 100 Shares 03/20/2003 $24.55
Sold 100 Shares 03/20/2003 $24.55
Sold 100 Shares 03/20/2003 $24.55
Sold 100 Shares 03/20/2003 $24.55
Sold 500 Shares 03/20/2003 $24.55
Sold 100 Shares 03/20/2003 $24.53
Sold 100 Shares 03/20/2003 $24.53
Sold 100 Shares 03/20/2003 $24.53
Sold 200 Shares 03/20/2003 $24.50
Sold 100 Shares 03/20/2003 $24.50
Sold 200 Shares 03/20/2003 $24.50
Sold 200 Shares 03/20/2003 $24.65
Sold 100 Shares 03/20/2003 $24.65
Sold 100 Shares 03/20/2003 $24.65
Sold 100 Shares 03/20/2003 $24.65
Sold 100 Shares 03/20/2003 $24.70
Sold 100 Shares 03/20/2003 $24.70
Sold 800 Shares 03/21/2003 $25.80
Sold 100 Shares 03/21/2003 $25.80
Sold 100 Shares 03/21/2003 $25.80
Sold 1,300 Shares 03/21/2003 $25.78
Sold 500 Shares 03/21/2003 $25.90
Sold 600 Shares 03/21/2003 $25.92
Sold 400 Shares 03/21/2003 $25.92
Sold 100 Shares 03/21/2003 $25.92
Sold 100 Shares 03/21/2003 $25.92
Sold 100 Shares 03/21/2003 $25.92
Sold 100 Shares 03/21/2003 $25.92
Sold 200 Shares 03/21/2003 $25.92
Sold 200 Shares 03/21/2003 $25.92
Sold 100 Shares 03/21/2003 $25.92
Sold 100 Shares 03/21/2003 $25.92
Sold 1,000 Shares 03/21/2003 $25.91
Sold 400 Shares 03/21/2003 $25.94
Sold 400 Shares 03/21/2003 $25.80
Sold 300 Shares 03/21/2003 $25.79
Sold 300 Shares 03/21/2003 $25.79
Sold 100 Shares 03/21/2003 $25.59
Sold 500 Shares 03/21/2003 $25.59
Sold 400 Shares 03/21/2003 $25.59
Sold 1,500 Shares 03/21/2003 $25.55
Sold 300 Shares 03/21/2003 $25.55
Sold 600 Shares 03/21/2003 $25.55
Sold 100 Shares 03/21/2003 $25.55
Sold 100 Shares 03/21/2003 $25.40
Sold 500 Shares 03/21/2003 $25.40
Sold 400 Shares 03/21/2003 $25.40
Sold 1,200 Shares 03/21/2003 $25.39
Sold 400 Shares 03/21/2003 $25.39
Sold 200 Shares 03/21/2003 $25.39
Sold 200 Shares 03/21/2003 $25.39
Sold 200 Shares 03/21/2003 $25.39
Sold 700 Shares 03/21/2003 $25.50
Sold 1,000 Shares 03/21/2003 $25.54
Sold 200 Shares 03/21/2003 $25.55
Sold 400 Shares 03/21/2003 $25.56
Sold 400 Shares 03/21/2003 $25.55
Sold 900 Shares 03/21/2003 $25.50
Sold 600 Shares 03/21/2003 $25.50
Sold 500 Shares 03/21/2003 $25.46
Sold 100 Shares 03/21/2003 $25.46
Sold 400 Shares 03/21/2003 $25.46
Sold 100 Shares 03/21/2003 $25.35
Sold 100 Shares 03/21/2003 $25.35
Sold 300 Shares 03/21/2003 $25.35
Sold 100 Shares 03/21/2003 $25.35
Sold 400 Shares 03/21/2003 $25.35
Sold 100 Shares 03/21/2003 $25.30
Sold 200 Shares 03/21/2003 $25.30
Sold 200 Shares 03/21/2003 $25.30
Sold 100 Shares 03/21/2003 $25.30
Sold 100 Shares 03/21/2003 $25.30
Sold 100 Shares 03/21/2003 $25.30
Sold 1,500 Shares 03/21/2003 $25.29
Sold 200 Shares 03/21/2003 $25.30
Sold 800 Shares 03/21/2003 $25.29
Sold 200 Shares 03/21/2003 $25.29
Sold 100 Shares 03/21/2003 $25.30
Sold 100 Shares 03/21/2003 $25.30
Sold 100 Shares 03/21/2003 $25.30
Sold 700 Shares 03/21/2003 $25.30
Sold 400 Shares 03/21/2003 $25.29
Sold 600 Shares 03/21/2003 $25.29
Sold 1,300 Shares 03/21/2003 $25.29
Sold 1,100 Shares 03/21/2003 $25.29
Sold 100 Shares 03/21/2003 $25.30
Sold 100 Shares 03/21/2003 $25.30
Sold 100 Shares 03/21/2003 $25.30
Sold 200 Shares 03/21/2003 $25.30
Sold 300 Shares 03/21/2003 $25.30
Sold 700 Shares 03/21/2003 $25.30
Sold 1,100 Shares 03/21/2003 $25.27
Sold 400 Shares 03/21/2003 $25.28
Sold 100 Shares 03/21/2003 $25.26
Sold 100 Shares 03/21/2003 $25.26
Sold 300 Shares 03/21/2003 $25.25
Sold 700 Shares 03/21/2003 $25.25
Sold 100 Shares 03/21/2003 $25.26
Sold 100 Shares 03/21/2003 $25.26
Sold 600 Shares 03/21/2003 $25.26
Sold 600 Shares 03/21/2003 $25.30
Sold 100 Shares 03/21/2003 $25.30
Sold 100 Shares 03/21/2003 $25.30
Sold 100 Shares 03/21/2003 $25.30
Sold 100 Shares 03/21/2003 $25.30
Sold 400 Shares 03/21/2003 $25.25
Sold 600 Shares 03/21/2003 $25.25
Sold 500 Shares 03/21/2003 $25.23
Sold 1,000 Shares 03/21/2003 $25.23
Sold 100 Shares 03/21/2003 $25.23
Sold 500 Shares 03/21/2003 $25.23
Sold 200 Shares 03/21/2003 $25.24
Sold 800 Shares 03/21/2003 $25.22
Sold 200 Shares 03/21/2003 $25.22
Sold 100 Shares 03/21/2003 $25.25
Sold 200 Shares 03/21/2003 $25.25
Sold 300 Shares 03/21/2003 $25.25
Sold 1,000 Shares 03/21/2003 $25.25
Sold 100 Shares 03/21/2003 $25.20
Sold 100 Shares 03/21/2003 $25.20
Sold 300 Shares 03/21/2003 $25.20
Sold 300 Shares 03/21/2003 $25.20
Sold 200 Shares 03/21/2003 $25.19
Sold 500 Shares 03/21/2003 $25.19
Sold 100 Shares 03/21/2003 $25.19
Sold 200 Shares 03/21/2003 $25.19
Sold 1,000 Shares 03/21/2003 $25.18
Sold 200 Shares 03/21/2003 $25.20
Sold 700 Shares 03/21/2003 $25.20
Sold 100 Shares 03/21/2003 $25.22
Sold 200 Shares 03/24/2003 $24.85
Sold 200 Shares 03/24/2003 $24.85
Sold 100 Shares 03/24/2003 $24.79
Sold 200 Shares 03/24/2003 $24.71
Sold 300 Shares 03/24/2003 $24.90
Sold 100 Shares 03/24/2003 $24.75
Sold 100 Shares 03/24/2003 $24.75
Sold 500 Shares 03/24/2003 $24.75
Sold 200 Shares 03/24/2003 $24.75
Sold 165 Shares 03/24/2003 $24.65
Sold 1,100 Shares 03/24/2003 $24.60
Sold 1,100 Shares 03/24/2003 $24.65
Sold 200 Shares 03/24/2003 $24.74
Sold 700 Shares 03/24/2003 $24.74
Sold 100 Shares 03/24/2003 $24.75
Sold 400 Shares 03/24/2003 $24.88
Sold 600 Shares 03/24/2003 $24.88
Sold 400 Shares 03/24/2003 $25.11
Sold 600 Shares 03/24/2003 $25.11
Sold 1,000 Shares 03/24/2003 $25.30
------------
420,865
============
(d) Ownership of more than five percent on behalf of Another
Person:
To the extent that shares of the issuer identified in Item 5(a)
are held by corporations or partnerships, other shareholders
and partners, respectively, have the right to receive dividends
from, or the proceeds from the sale of the shares to the extent
of their proportionate interests in such entities. To the best
of the Reporting Person's knowledge, other than Stewart and
Jane Bainum, and their four adult children, Stewart Bainum,
Jr., Bruce Bainum, Roberta Bainum and Barbara Bainum, no other
person has such interest relating to more than 5% of the
outstanding class of securities.
(e) Ownership of Less than Five Percent:
Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Not applicable.
Item 7. Material to be Filed as Exhibits
None
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: March 26, 2003
/s/ Stewart Bainum
-------------------
Stewart Bainum
/s/ Jane Bainum
----------------
Jane Bainum