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FORM 5
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[ ] Check box if no U.S. SECURITIES AND EXCHANGE COMMISSION
longer subject to Washington, DC 20549
Section 16. Form
4 or Form 5 ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
obligations may
continue. See Filed pursuant to Section 16(a) of the Securities
Instruction 1(b). Exchange Act of 1934,
[ ] Form 3 Holdings Section 17(a) of the Public Utility
Reported Holding Company Act of 1935 or Section 30(f) of
[ ] Form 4 the Investment Company Act
Transactions of 1940
Reported
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<S> <C> <C> <C> <C> <C> <C>
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| 1. Name and Address of Reporting Person* | 2. Issuer Name and Ticker or Trading Symbol |6. Relationship of Reporting Person to |
| | | Issuer (Check all applicable) |
| Warshaw Michele Steiner | Steiner Leisure Limited (STNR) | |
|--------------------------------------------|---------------------------------------------| [X] Director [ ] 10% Owner |
| (Last) (First) (Middle) | 3. IRS Identification |4. Statement For | |
| | Number of Reporting | Month/Year | [X] Officer (give [ ] Other (specify|
| Suite 104A, Saffrey Square | Person, if an Entity | | title below) |
|--------------------------------------------| (Voluntary) | 1999 | below) |
| (Street) | |-------------------| |
| | |5. If Amendment, | Executive V.P. |
| | | Date of Original|---------------------------------------|
| Nassau, The Bahamas | | (Month/Year) |7. Individual or Joint/Group Filing |
|--------------------------------------------| | | (Check applicable line) |
| (City) (State) (Zip) |---------------------------------------------| [X] Form Filed by one |
| | | Reporting Person |
| | | [ ] Form Filed by more than |
| | | one Reporting Person |
|----------------------------------------------------------------------------------------------------------------------------------|
| TABLE 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED |
|----------------------------------------------------------------------------------------------------------------------------------|
| 1. Title of Security | 2. Trans- | 3. Transac- |4. Securities Acquired (A)|5. Amount of Se- |6. Owner- |7. Nature |
| (Instr. 3) | action | tion | or Disposed of (D) | curities Benefi-| ship | of In- |
| | Date | Code | (Instr. 3, 4 and 5) | cially Owned at | Form: | direct |
| | | (Instr. | | End of Issuer's | Direct | Benefi-|
| | (Month/ | 8) | | Fiscal Year | (D) or | cial |
| | Day/ | |--------------------------| (Instr. 3 and 4)| Indirect | Owner- |
| | Year) | | Amount | (A) or | Price | | (I) | ship |
| | | | | (D) | | | (Instr. 4)| (Instr.|
| | | | | | | | | 4) |
| | | | | | | | | |
|--------------------------|-----------------|-------------|--------|--------|--------|-------------------|-------------|----------|
| | | | | | | | | |
|--------------------------|-----------------|-------------|--------|--------|--------|-------------------|-------------|----------|
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|--------------------------|-----------------|-------------|--------|--------|--------|-------------------|-------------|----------|
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|--------------------------|-----------------|-------------|--------|--------|--------|-------------------|-------------|----------|
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|--------------------------|-----------------|-------------|--------|--------|--------|-------------------|-------------|----------|
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|--------------------------|-----------------|-------------|--------|--------|--------|-------------------|-------------|----------|
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|--------------------------|-----------------|-------------|--------|--------|--------|-------------------|-------------|----------|
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|--------------------------|-----------------|-------------|--------|--------|--------|-------------------|-------------|----------|
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|--------------------------|-----------------|-------------|--------|--------|--------|-------------------|-------------|----------|
| | | | | | | | | |
|--------------------------|-----------------|-------------|--------|--------|--------|-------------------|-------------|----------|
| | | | | | | | | |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If form is filed by more than one reporting person, see instruction 4(b)(v).
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<CAPTION>
FORM 5 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C> <C> <C>
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| 1. Title of Derivative| 2. Conver- | 3. Trans- | 4. Trans- | 5. Number of | 6. Date Exer- |7. Title and Amount| 8. Price |
| Security | sion or | action | action | Derivative | cisable and | of Underlying | of |
| (Instr. 3) | Exercise| Date | Code | Securities | Expiration | Securities | Deriv- |
| | Price of| (Month/| (Instr.| Acquired (A)| Date | (Instr. 3 and 4)| ative |
| | Deriv- | Day/ | 8) | or Disposed | (Month/Day/ | | Secur- |
| | ative | Year) | | of (D) | Year) | | ity |
| | Security| | | (Instr. 3, | | | (Instr. 5)|
| | | | | 4, and 5) |-----------------|-------------------| |
| | | | | | Date |Expira- | | Amount or | |
| | | | |----------------| Exer- |tion |Title | Number of | |
| | | | | (A) | (D) | cisable|Date | | Shares | |
|-----------------------|------------|-----------|-----------|-------|--------|--------|--------|------|------------|--------------|
| Employee Share Option | | | | | | | |Common| | |
| (right to buy) | 30.563 | 3/13/99 | A | 25,360| | (1) | 3/12/09|Shares| 25,360 | |
|-----------------------|------------|-----------|-----------|-------|--------|--------|--------|------|------------|--------------|
| Employee Share Option | | | | | | | |Common| | |
| (right to buy) | 30.563 | 3/13/99 | A | 63,800| | (1) | 3/12/09|Shares| 68,800 | |
|-----------------------|------------|-----------|-----------|-------|--------|--------|--------|------|------------|--------------|
| Employee Share Option | | | | | | | |Common| | |
| (right to buy) | 15.844 | 10/30/99 | A | 48,920| | (2) |10/29/09|Shares| 48,920 | |
|-----------------------|------------|-----------|-----------|-------|--------|--------|--------|------|------------|--------------|
| Employee Share Option | | | | | | | |Common| | |
| (right to buy) | 15.844 | 10/30/99 | A |123,080| | (2) |10/29/09|Shares| 123,080 | |
|-----------------------|------------|-----------|-----------|-------|--------|--------|--------|------|------------|--------------|
| | | | | | | | | | | |
|-----------------------|------------|-----------|-----------|-------|--------|--------|--------|------|------------|--------------|
| | | | | | | | | | | |
|-----------------------|------------|-----------|-----------|-------|--------|--------|--------|------|------------|--------------|
| | | | | | | | | | | |
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<CAPTION>
<S> <C> <C>
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| 9. Number of | 10. Ownership | 11. Nature of |
| Derivative | of Derivative | Indirect |
| Securities | Security: | Beneficial |
| Beneficially | Direct (D) | Ownership |
| Owned at End | or Indirect (I) | (Instr. 4) |
| of Year | (Instr. 4) | |
| (Instr. 4) | | |
| | | |
|--------------------|--------------------------|----------------------|
| 25,360 | D | |
|--------------------|--------------------------|----------------------|
| 63,800 | I | By spouse(3) |
|--------------------|--------------------------|----------------------|
| 48,920 | D | |
|--------------------|--------------------------|----------------------|
| 123,080 | I | By spouse(3) |
|--------------------|--------------------------|----------------------|
| | | |
|--------------------|--------------------------|----------------------|
| | | |
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Explanation of Responses:
(1) Options are exercisable in three equal installments on the first /s/ Michele Steiner Warshaw February 11, 2000
three anniversaries of March 13, 1999. ------------------------------- -----------------
(2) Options are exercisable in three equal installments on the first Signature of Reporting Person** Date
three anniversaries of October 30, 1999.
(3) Reporting person disclaims beneficial ownership of these securities,
and this report shall not be deemed an admission that the reporting
person is the beneficial owner of such securities for purposes of
Section 16 or any other purpose.
**Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note. File three copies of this form, one of which must be manually signed. Page 2
If space provided is insufficient, see Instruction 6 for procedure.
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