U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Sanderson Joe, Jr. F.
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(Last) (First) (Middle)
P. O. Box 988
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(Street)
Laurel Mississippi 39441-0988
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
SAFM
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
428-86-1873
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4. Statement for Month/Year
May 2002
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [X] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
President & Chief Executive Officer
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person
[_] Form filed by more than one Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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Common Stock, par value
$1.00 per share 5/13/02 W V 400,000 D 2,399,672 I (1)
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Common Stock, par value Owner of
$1.00 per share 5/13/02 W V 100,000 A 153,722 D Record
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Common Stock, par value
$1.00 per share 49,083 I (2)
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Common Stock, par value
$1.00 per share 6,539 I By Spouse
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Common Stock, par value
$1.00 per share 150,604 I (3)
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(1) As co-executor of the Estate of Joe Frank Sanderson. Joe Sanderson, Jr.
was appointed and qualified as a co-executor of the Estate of Joe Frank
Sanderson on 1/21/98.
(2) Allocated to the account of Joe F. Sanderson, Jr. in the Company's ESOP.
(3) By private charitable foundation of which Joe F. Sanderson, Jr. is a
director.
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(2) On May 13, 2002, the Executors of the Estate of Joe Frank Sanderson asked
for and received permission from the judge overseeing the administration of the
Estate of Joe Frank Sanderson, deceased, to distribute 400,000 shares of
Sanderson Farms, Inc. common stock equally among the four primary beneficiaries
(the children of Joe Frank Sanderson) of the Estate. Mr. Sanderson is the son
of Joe Frank Sanderson, deceased, and is one of the primary beneficiaries of the
Estate.
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* ____ If the Form is filed by more than one Reporting Person, see
Instruction 4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
(Form 4-07/99)
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Incentive Stock Common
Options $15.00 (1) 7/24/07 Stock 60,000 60,000 D
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Incentive Stock Common
Options $13.00 (2) 4/23/08 Stock 60,000 60,000 D
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Phantom Stock Common
Options $ 7.46875 (3) 4/21/10 Stock 75,000 75,000 D
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Explanation of Responses:
(1) Exercisable for 10-year period, vesting begins at 25% on 7/24/98, the end of
the first year, and continues at 25% per year until fully vested. (2)Exercisable
for 10-year period, vesting begins at 25% on 4/23/99, the end of thefirst year,
and continues at 25% per year until fully vested. (3) Exercisablefor 10-year
period, vesting begins at 25% pm 4/21/01, the end of the first year,and
continues at 25% per year until fully vested.
/s/Joe F. Sanderson, Jr. May 20, 2002
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.