WATSCO INC — Director's Dealing 2004

Feb 12, 2004

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: WATSCO INC (WSO; WSOB)
CIK: 0000105016
Period of Report: 2003-12-31

Reporting Person: KELLY TERRENCE C (Executive Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	976	Indirect
Common Stock	25000	Direct
Class B Common Stock	50000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$16.0	2007-10-27	Common Stock (4500)	4500	Direct
Stock Option (right to buy)	$16.0	2007-10-27	Common Stock (4500)	4500	Direct
Stock Option (right to buy)	$16.0	2007-10-27	Common Stock (4500)	4500	Direct
Stock Option (right to buy)	$16.0	2007-10-27	Common Stock (4500)	4500	Direct
Stock Option (right to buy)	$16.0	2007-10-27	Common Stock (4500)	4500	Direct
Stock Option (right to buy)	$14.75	2008-10-15	Common Stock (1000)	1000	Direct
Stock Option (right to buy)	$14.75	2008-10-15	Common Stock (1000)	1000	Direct
Stock Option (right to buy)	$8.38	2010-03-01	Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$8.38	2010-03-01	Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$8.38	2010-03-01	Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$11.30	2011-09-24	Class B Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$11.30	2011-09-24	Class B Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$11.30	2011-09-24	Class B Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$11.30	2011-09-24	Class B Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$11.30	2011-09-24	Class B Common Stock (10000)	10000	Direct

Footnotes

F1: Ownership in Watsco, Inc. Profit Sharing Retirement Plan and Trust

F2: Award of stock pursuant to Watsco, Inc. Restricted Stock Agreement