SEC Form 4

FORM 4

[ ] Check this box if no longer
subject to Section 16. Form 4 or Form
5 obligations may continue.
See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

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1. Name and Address of Reporting Person^*

O'Hanlon, Terrie R.

(Last) (First) (Middle)

4411 East Jones Bridge Rd.

(Street)

Norcross, GA 30092

(City) (State) (Zip)

2. Issuer Name and Ticker
or Trading Symbol

CheckFree Corporation CKFR

3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (voluntary)

4. Statement for
(Month/Year)

January 27, 2003

5. If Amendment,
Date of Original
(Month/Year)

6. Relationship of Reporting Person(s) to Issuer

(Check all applicable)

Director 10% Owner

X Officer Other

Officer/Other

Description Executive Vice President

7. Individual or Joint/Group
Filing (Check Applicable Line)

X Individual Filing

Joint/Group Filing

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	3. Transaction Code and Voluntary Code (Instr. 8) Code \| V	4. Securities Acquired (A) or Disposed (D) Of (Instr. 3, 4, and 5) Amount \| A/D \| Price	5. Amount of Securities Beneficially Owned at End ofMonth (Instr. 3 and 4)	6. Owner- ship Form: Direct(D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock - $.01 par value	01/27/2003	M \|	4,000 \| A \| $13.9375		D
Common Stock - $.01 par value	01/27/2003	M \|	8,000 \| A \| $11.3130		D
Common Stock - $.01 par value	01/27/2003	M \|	5,000 \| A \| $16.0400		D
Common Stock - $.01 par value	01/27/2003	S \|	17,000 \| D \| $19.2900	1,743	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

(over)
SEC 1474 (3-99)

O'Hanlon, Terrie R. - January 27, 2003

Form 4 (continued)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned

(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conver- sion or Exercise Price of Deri- vative Security	3. Transaction Date (Month/ Day/ Year)	4. Transaction Code and Voluntary (V) Code (Instr.8) Code \| V	5. Number of Derivative Securities Acquired (A) or Disposed (D) Of (Instr. 3,4 and 5)	6. Date Exercisable(DE) and Expiration Date(ED) (Month/Day/Year) (DE) \| (ED)	7. Title and Amount of Underlying Securities (Instr. 3 and 4)	8. Price of Derivative Security (Instr.5)	9. Number of Derivative Securities Beneficially Owned at End of Month (Instr.4)	10. Owner- ship Form of Deriv- ative Security: Direct (D) or Indirect (I)	11. Nature of Indirect Beneficial Ownership (Instr.4)
Stock Option (Right to Buy)	$16.0400	01/27/2003	M \|	(D) 5,000	(1) \| 12/04/2011	Common Stock - $.01 par value - 5,000		10,000	D
Stock Option (Right to Buy)	$13.9375	01/27/2003	M \|	(D) 4,000	(2) \| 08/13/2008	Common Stock - $.01 par value - 4,000		1,000	D
Stock Option (Right to Buy)	$11.3130	01/27/2003	M \|	(D) 8,000	(2) \| 09/16/2008	Common Stock - $.01 par value - 8,000		2,000	D

Explanation of Responses :

** 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 is insufficient,
See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB number.

/s/ Robert J. Tannous 1/27/03
________________________________ __________________
** Signature of Reporting Person Date

By: Robert J. Tannous, Attorney-in-Fact for Terrie R. O'Hanlon

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SEC 1474 (3-99)

O'Hanlon, Terrie R. - January 27, 2003

Form 4 (continued)

FOOTNOTE Descriptions for CheckFree Corporation CKFR

Form 4 - January 27, 2003

Terrie R. O'Hanlon
4411 East Jones Bridge Rd.

Norcross, GA 30092

Explanation of responses:

(1) One-third of option vests each year beginning on the first anniversary of the date of grant.
(2) Option vests 20% per year beginning on the first anniversary of the date of grant.

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CHECKFREE CORP \GA\ 4