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
PEABODY, RICHARD A.
14255 49th Street North, Building 1
Clearwater, FL 33762
U.S.A.
2. Issuer Name and Ticker or Trading Symbol
Checkers Drive-In Restaurants, Inc.
CHKR
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
September 1999
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Senior Vice President and Chief Financial Officer
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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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 |8/9/99|C | |1,658 (1) |A |$9.05 |2,575 |D | |
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1. Pursuant to the Agreeme| | | | | | | | | |
nt and Plan of Merger betwe| | | | | | | | | |
en Rally's | | | | | | | | | |
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Hamburgers, Inc. ("Rally's"| | | | | | | | | |
) and the Company effective| | | | | | | | | |
8/9/99 shares of | | | | | | | | | |
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Rally's held by the reporti| | | | | | | | | |
ng person were exchanged fo| | | | | | | | | |
r 1.99 shares | | | | | | | | | |
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of Checker's stock and then| | | | | | | | | |
subject to a one-for-12 re| | | | | | | | | |
verse stock split. | | | | | | | | | |
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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>
Employee Stock Option |$3.20 |8/9/9|C | |A |A |(2) |4/27/|Common Stock|3,483 | | |D | |
(right to buy) | |9 (1)| | | | | |03 | | | | | | |
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| | | | | | | | | | | |16,316 | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
1. Options originally granted under the stock option plan of Rally's
Hamburgers, Inc. which were converted to
options in Checkers in connection with the merger between Rally's and Checkers
dated 8/9/99.
2. Options vest as follows: 1/3 on 4/27/99, 1/3 on 4/27/00, and 1/3 on
4/27/01.
SIGNATURE OF REPORTING PERSON
RICHARD A. PEABODY
