RCM TECHNOLOGIES, INC. — Director's Dealing 2003

Nov 17, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RCM TECHNOLOGIES INC (RCMT)
CIK: 0000700841
Period of Report: 2003-11-13

Reporting Person: CAMPANELLI ROCCO (Executive VP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-13	Common Stock	A	7508	—	Acquired	0	Direct
2003-11-13	Common Stock	A	8678	—	Acquired	0	Direct
2003-11-13	Common Stock	A	4574	—	Acquired	26760	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-13	Stock Option (right to buy)	$15.06	D	20000	Disposed	2008-11-01	Common Stock (20000)	Direct
2003-11-13	Stock Option (right to buy)	$11.93	D	15000	Disposed	2010-04-04	Common Stock (15000)	Direct
2003-11-13	Stock Option (right to buy)	$10.13	D	12000	Disposed	2007-06-20	Common Stock (12000)	Direct

Footnotes

F1: On November 13, 2003, the issuer canceled, pursuant to the issuer's exchange offer, an option granted to the reporting person on November 1, 1998. In exchange for the option, the reporting person received 7,508 shares of common stock and $31,691.27.

F2: On November 13, 2003, the issuer canceled, pursuant to the issuer's exchange offer, an option granted to the reporting person on April 4, 2000. In exchange for the option, the reporting person received 8,678 shares of common stock and $36,629.84.

F3: On November 13, 2003, the issuer canceled, pursuant to the issuer's exchange offer, an option granted to the reporting person on June 20, 1997. In exchange for the option, the reporting person received 4,574 shares of common stock and $19,306.85.

F4: The aggregate number of securities beneficially owned directly by the reporting person following the reported transaction is shown in row 3 on Table I.