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
Selmon, Lee Roy
4202 East Fowler, PED 214
Tampa, FL 33620
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
08/00
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>
<CAPTION>
___________________________________________________________________________________________________________________________________
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)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, par value $.0|08/09/|M |-|20,000 |A |$17.50 | | | |
1 |00 | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock, par value $.0|08/09/|S |-|20,000 |D |$25.00 |0 |D | |
1 |00 | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
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)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Phantom Stock Units |1-1 |- |- |-|- - |A,D|(1) |(1) |Common Stock|1,329.3|(1) |1,329.36(1) |D | |
| | | | | | | | | |6(1) | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Stock Option (right to|$17.50 |08/09|M |-|20,000 |D |(2) |10/19|Common Stock|20,000 | |25,000 |D | |
buy) | |/00 | | | | | |/04 | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
(1) Derivative securities beneficially owned include (i) 512.11 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 on January 1, 2001;(ii) 470.64 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 on January 1, 2001;and (iii) 346.61 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 on January 1,
2001.
(2) The option vested in three equal annual installments beginning on October
19, 1994.
SIGNATURE OF REPORTING PERSON
LEE ROY SELMON
DATE
August 24, 2000
