ROGERS JAMES ACKER 4

4 · FIRST SOUTHERN BANCSHARES INC/DE · Filed Oct 23, 2003

Insider Transaction Report

Form 4

Period: 2003-10-15

FIRST SOUTHERN BANCSHARES INC/DE(FSTH.PK)

ROGERS JAMES ACKER

DirectorChairman of the Board

Transactions

Other
Common Stock Warrants (right-to-buy)
2003-10-15+2,226→ 2,226 total(indirect: By IRA)
Exercise: $0.01From: 2004-10-15Exp: 2006-10-15→ Common Stock (2,226 underlying)
Other
Common Stock Warrants (right-to-buy)
2003-10-15+546→ 546 total(indirect: By Spouse)
Exercise: $0.01From: 2004-10-15Exp: 2006-10-15→ Common Stock (546 underlying)
Other
Common Stock Warrants (right-to-buy)
2003-10-15+238→ 238 total(indirect: By Spouse)
Exercise: $0.01From: 2004-10-15Exp: 2006-10-15→ Common Stock (238 underlying)
Other
Rights to Acquire Common Stock Warrants (r-t-b)
2003-10-15+546→ 546 total(indirect: By Spouse)
Exercise: $0.01From: 2005-10-15Exp: 2007-10-15→ Common Stock (546 underlying)
Other
Rights to Acquire Common Stock Warrants (r-t-b)
2003-10-15+2,226→ 2,226 total(indirect: By IRA)
Exercise: $0.01From: 2005-10-15Exp: 2007-10-15→ Common Stock (2,226 underlying)
Other
Series A Nonconvertible Preferred Stock
2003-10-15−3,357→ 0 total(indirect: By IRA)
Other
Series A Nonconvertible Preferred Stock
2003-10-15−360→ 0 total(indirect: By Spouse)
Other
Rights to Acquire Common Stock Warrants (r-t-b)
2003-10-15+238→ 238 total(indirect: By Spouse)
Exercise: $0.01From: 2005-10-15Exp: 2007-10-15→ Common Stock (238 underlying)
Other
Series A Nonconvertible Preferred Stock
2003-10-15−829→ 0 total(indirect: By Spouse)

Holdings

Common Stock
(indirect: By Daughter)
500
Incentive Stock Option (right to buy)
Exercise: $11.75From: 1997-04-17Exp: 2007-04-17→ Common Stock (10,249 underlying)
10,249
Common Stock Warrants (right-to-buy)
Exercise: $1.00From: 2002-11-01Exp: 2005-11-01→ Common Stock (5,000 underlying)
5,000
Common Stock
(indirect: By Spouse)
1,000
Common Stock
32,460

Footnotes (10)

[F1]On October 15, 2003, the reporting person's IRA, exchanged 3,357 shares of the issuer's Series A Convertible Preferred Stock for units consisting of (i) capital notes, (ii) warrants and (iii) rights to acquire additional warrants, which are reported separately on this Form 4.
[F10]These options were granted under the First Southern Bancshares, Inc. 1996 Stock Option Plan, and are fully vested and exercisable.
[F2]On October 15, 2003, the reporting person's IRA, exchanged 3,357 shares of the issuer's Series A Convertible Preferred Stock for units consisting of (i) capital notes, (ii) warrants, which are reported separately on this Form 4, and (iii) these rights to acquire additional warrants.
[F3]Units consisting of (i) capital notes having a principal amount equal to the aggregate purchase price of the units, (ii) warrants and (iii) rights to acquire additional warrants were acquired in exchange for 3,357 shares of the issuer's Series A Convertible Preferred Stock, which for purposes of such exchange were valued at $23.76 per share.
[F4]On October 15, 2003, the reporting person's spouse, exchanged 829 shares of the issuer's Series A Convertible Preferred Stock for units consisting of (i) capital notes, (ii) warrants and (iii) rights to acquire additional warrants, which are reported separately on this Form 4.
[F5]On October 15, 2003, the reporting person's spouse, exchanged 829 shares of the issuer's Series A Convertible Preferred Stock for units consisting of (i) capital notes, (ii) warrants, which are reported separately on this Form 4, and (iii) these rights to acquire additional warrants.
[F6]Units consisting of (i) capital notes having a principal amount equal to the aggregate purchase price of the units, (ii) warrants and (iii) rights to acquire additional warrants were acquired in exchange for 829 shares of the issuer's Series A Convertible Preferred Stock, which for purposes of such exchange were valued at $23.76 per share.
[F7]On October 15, 2003, the reporting person's spouse's IRA, exchanged 360 shares of the issuer's Series A Convertible Preferred Stock for units consisting of (i) capital notes, (ii) warrants and (iii) rights to acquire additional warrants, which are reported separately on this Form 4.
[F8]On October 15, 2003, the reporting person's spouse, exchanged 360 shares of the issuer's Series A Convertible Preferred Stock for units consisting of (i) capital notes, (ii) warrants, which are reported separately on this Form 4, and (iii) these rights to acquire additional warrants.
[F9]Units consisting of (i) capital notes having a principal amount equal to the aggregate purchase price of the units, (ii) warrants and (iii) rights to acquire additional warrants were acquired in exchange for 360 shares of the issuer's Series A Convertible Preferred Stock, which for purposes of such exchange were valued at $23.76 per share.

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