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
Avery, Paul E.
550 North Reo Street
Suite 200
Tampa, FL 33609
USA
2. Issuer Name and Ticker or Trading Symbol
Outback Steakhouse, Inc.
OSSI
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
12/99
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
President of Outback Steakhouse of Florida, Inc.
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>
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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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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, par value $.0|12/10/|M |-|24,330 |A |$.653 |24,330 |D | |
1 |99 | | | | | | | | |
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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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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stock Option (right to|$15.000 | | | | | |(1) |07/23|Common Stock|150,000| |150,000 |D | |
buy) | | | | | | | |/07 | | | | | | |
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Stock Option (right to|$14.333 | | | | | |(2) |12/31|Common Stock|112,500| |112,500 |D | |
buy) | | | | | | | |/03 | | | | | | |
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Stock Option (right to|$17.666 | | | | | |(3) |01/24|Common Stoc|150,000| |150,000 |D | |
buy) | | | | | | | |/05 |k | | | | | |
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Stock Option (right to|$.653 |12/10|M |-|24,330 |D |05/03|01/01|Common Stock|24,330 | |0 |D | |
buy) | |/99 | | | | |/91 |/00 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) The option vests in three annual installments begining on 01/01/1999, in
the respective amounts of 30,000 shares, 30,000 shares and 90,000
shares.
(2) The option vests in five equal annual installments of 22,500 shares each
beginning on 09/01/1994.
(3) The option vests in three annual installments begining on 01/25/1998, in
the respective amounts of 30,000 shares, 30,000 shares and 90,000
shares.
SIGNATURE OF REPORTING PERSON
PAUL E. AVERY
DATE
12/31/99
