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 Sullivan, Chris Thomas 2202 North Westshore Boulevard, 5th Floor Tampa, Florida 33607 United States 2. Issuer Name and Ticker or Trading Symbol Outback Steakhouse, Inc. OSI 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Statement for Month/Year 12/26/02 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director (X) 10% Owner (X) Officer (give title below) ( ) Other (specify below) Chairman of the Board, Chief Executive 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 ___________________________________________________________________________________________________________________________________ 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)| | ___________________________________________________________________________________________________________________________________| Common Stock, par value $.0|12/26/|J |V|28,985 |N/A|N/A |7,791,075(1) |I |(2) | 1 |02 | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Common Stock, par value $.0|12/26/|G |V|28,985 |D |N/A | |D | | 1 |02 | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Common Stock, par value $.0|12/18/|G |V|4,350 |D |N/A |27,122(1) |D | | 1 |02 | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Common Stock, par value $.0|- |- |-|- |- |- |2,568(1) |D |(3) | 1 | | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ 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)| | ___________________________________________________________________________________________________________________________________| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________| Explanation of Responses: (1) Represents number of shares beneficially owned immediately after the reported transaction. (2) Owned by Multi-Venture Partners, Ltd., a Nevada limited partnership ("MVP"). Mr. Sullivan received 28,985 shares in a non-liquidating distribution from MVP. These shares were previously reported as beneficially owned by Mr. Sullivan indirectly through MVP. The foregoing transaction is exempt from Section 16 pursuant to Rule 16a-13 as a change in form of beneficial ownership. (3) Owned by Mr. Sullivan as custodian for the benefit of his minor children. SIGNATURE OF REPORTING PERSON Joseph J. Kadow, Attorney-in-Fact DATE 12/27/02