WATSCO INC — Director's Dealing 2003

Sep 4, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WATSCO INC (WSO; WSOB)
CIK: 0000105016
Period of Report: 2003-09-03

Reporting Person: NAHMAD ALBERT H (Director, Chairman & CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-02	Common Stock	M	202500	$3.81	Acquired	0	Direct
2003-09-02	Common Stock	F	100314	$18.50	Disposed	271971	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-02	Stock Option (Right To Buy)	$3.81	M	67500	Disposed	2003-12-30	Common Stock (0)	Direct
2003-09-02	Stock Option (Right To Buy)	$3.81	M	67500	Disposed	2003-12-30	Common Stock (0)	Direct
2003-09-02	Stock Option (Right To Buy)	$3.81	M	67500	Disposed	2003-12-30	Common Stock (0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	240277	Indirect
Class B - Common Stock	1524302	Indirect
Common Stock	20562	Indirect
Class B - Common Stock	581792	Direct
Class B - Common Stock	716528	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right To Buy)	$7.33	2006-03-01	Class B Common Stock (75000)	75000	Direct
Stock Option (Right To Buy)	$7.33	2006-03-01	Class B Common Stock (75000)	75000	Direct
Stock Option (Right To Buy)	$7.33	2006-03-01	Class B Common Stock (75000)	75000	Direct
Stock Option (Right To Buy)	$15.17	2007-03-21	Class B Common Stock (100000)	100000	Direct
Stock Option (Right To Buy)	$15.17	2007-03-21	Class B Common Stock (100000)	100000	Direct
Stock Option (Right To Buy)	$15.17	2007-03-21	Class B Common Stock (100000)	100000	Direct
Stock Option (Right To Buy)	$16.00	2008-04-06	Class B Common Stock (125000)	125000	Direct
Stock Option (Right To Buy)	$16.00	2008-04-06	Class B Common Stock (125000)	125000	Direct
Stock Option (Right To Buy)	$16.00	2008-04-06	Class B Common Stock (125000)	125000	Direct
Stock Option (Right To Buy)	$13.875	2009-02-19	Class B Common Stock (66666)	66666	Direct
Stock Option (Right To Buy)	$13.875	2009-02-19	Class B Common Stock (66667)	66667	Direct
Stock Option (Right To Buy)	$13.875	2009-02-19	Class B Common Stock (66667)	66667	Direct
Stock Option (Right To Buy)	$8.94	2010-03-15	Class B Common Stock (66666)	66666	Direct
Stock Option (Right To Buy)	$8.94	2010-03-15	Class B Common Stock (66667)	66667	Direct
Stock Option (Right To Buy)	$8.94	2010-03-15	Class B Common Stock (66667)	66667	Direct
Stock Option (Right To Buy)	$11.30	2011-09-24	Class B Common Stock (33000)	33000	Direct
Stock Option (Right To Buy)	$11.30	2011-09-24	Class B Common Stock (33000)	33000	Direct
Stock Option (Right To Buy)	$11.30	2011-09-24	Class B Common Stock (34000)	34000	Direct

Footnotes

F1: Reflects shares owned and purchased by Alna Capital Associates, a Limited Partnership

F2: Ownership in Watsco, Inc. Profit Sharing Retirement Plan & Trust

F3: Award of Stock pursuant to the Watsco, Inc. Restricted Stock Agreement