SEC Form 4
FORM 4 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
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
HOUGH LAWRENCE A
(Last) (First) (Middle)
84 INVERNESS CIRCLE EAST
(Street)
ENGLWOOD CO 80112
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
NAVIGANT INTERNATIONAL INC [ FLYR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/12/2003
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/12/2003 J(1) 36,260 D $0 0 I see footnote(2)
Common Stock 08/12/2003 J(3) 21,030 A $0.00 236,589 D
Common Stock 08/12/2003 J(4) 13,236 D $0.00 0 I see footnote(5)
Common Stock 08/12/2003 J(6) 2,052 A $0.00 238,641 D
Common Stock 08/12/2003 J(7) 2,052 A $0.00 2,052 I by Wife
Common Stock 08/12/2003 S 5,400 D $13.55 233,241 D
Common Stock 08/12/2003 S 7,100 D $13.56 226,141 D
Common Stock 08/12/2003 S 2,400 D $13.57 223,741 D
Common Stock 08/12/2003 S 200 D $13.58 223,541 D
Common Stock 08/12/2003 S 300 D $13.63 223,241 D
Common Stock 08/12/2003 S 700 D $13.64 222,541 D
Common Stock 08/13/2003 S 1,000 D $13.6 221,541 D
Common Stock 08/13/2003 S 1,000 D $13.57 220,541 D
Common Stock 08/13/2003 S 200 D $13.63 220,341 D
Common Stock 08/13/2003 S 100 D $13.62 220,241 D
Common Stock 08/13/2003 S 200 D $13.6 220,041 D
Common Stock 08/13/2003 S 2,000 D $13.5 218,041 D
Common Stock 08/13/2003 S 1,000 D $13.58 217,041 D
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. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Represents a distribution of 36,260 shares by Stuart Mill LLC, of which the reporting person is managing member, to its members. The reporting person disclaims beneficial ownership of the shares held by Stuart Mill LLC, except to the extent of any pecuniary interest.
2. Represents 0 shares owned by Stuart Mill LLC, of which the reporting person is managing member. The reporting person disclaims beneficial ownership of the shares held by Stuart Mill LLC, except to the extent of any pecuniary interest.
3. Represents the receipt by the reporting person of direct beneficial ownership of 21,030 shares as a result of the distribution by Stuart Mill, LLC reported by this filing. In prior reports, the reporting person reported indirect beneficial ownership of 36,260 shares of the issuer's Common Stock owned by Stuart Mill, LLC. The distribution and receipt reflected in this report represents only a change in the form of beneficial ownership in the subject securities and not in the reporting person's pecuniary interest therein.
4. Represents a distribution of 13,236 shares by Hough Investment Limited Partnership, of which the reporting person is a general partner, to its partners. The reporting person disclaims beneficial ownership of the shares held by Hough Investment Limited Partnership except to the extent of any pecuniary interest.
5. Represents 0 shares owned by Hough Investment Limited Partnership, of which the reporting person is a general partner, to its partners. The reporting person disclaims beneficial ownership of the shares held by Hough Investment Limited Partnership except to the extend of any pecuniary interest.
6. Represents the receipt by the reporting person of direct beneficial ownership of 2,052 shares as a result of the distribution by Hough Investment Limited Partnership to its partners reported by this filing. In prior reports, the reporting person reported indirect beneficial ownership of 13,236 shares of the issuer's Common Stock owned by Hough Investment Limited Partnership. The distribution and receipt reflected in this report represents only a change in the form of beneficial ownership in the subject securities and not in the reporting person's pecuniary interest therein.
7. Represents the receipt by the reporting person of indirect beneficial ownership of 2.052 shares as a result of the distribution by Hough Investment Limited Partnership to its partners reported by this filing.
/s/ Lawrence A. Hough 08/14/2003
** Signature of Reporting Person Date
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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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