RESEARCH FRONTIERS INC — Director's Dealing 2003

May 21, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RESEARCH FRONTIERS INC (REFR)
CIK: 0000793524
Period of Report: 2003-05-21

Reporting Person: SAXE ROBERT L (Director, Chairman, 10% Owner)

Footnotes

F1: The reported transaction is a distribution of 299 shares of common stock to Robert L. Saxe, the reporting person. Because Robert L. Saxe has a one-half interest as beneficiary under the trust, Mr. Saxe's indirect interest is reflected as decreasing by twice this amount to reflect the fact that the trust distributed 299 shares to Robert L. Saxe and 299 shares to the other beneficiary under the trust.