NATIONAL BEVERAGE CORP — Director's Dealing 2003

Jul 8, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL BEVERAGE CORP (FIZ)
CIK: 0000069891
Period of Report: 2003-07-03

Reporting Person: KLING S LEE (Director)

Footnotes

F1: Under the Company's Key Employee Equity Partnership Program ("KEEP"), Mr. Kling received a grant of 3000 KEEP options on July 3, 2003 for 6000 shares of common stock acquired by Mr. Kling on that date at a purchase price of $14.20 per share. The KEEP options are granted at an initial exercise price of 60 percent of the purchase price for the shares of National Beverage Corp. common stock acquired and reduced to the par value of the Company's stock at the end of the six year vesting period. Reference is made to Exhibit 10-21 of the Company's Form 10-K for the year ended May 2, 1998 for a full description of the terms of the KEEP program.