4 1 a2096331z4.htm FORM 4
    FORM 4
o Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)		   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(h) of the Investment Company Act of 1940		  
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1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Pigott, Jr.   R.   T.       Texas Regional Bancshares, Inc. TRBS            Director            10% Owner
 
           
    (Last)   (First)   (Middle)   3.   IRS Identification Number of Reporting Person, if an entity (Voluntary)   4.   Statement for Month/Day/Year         X   Officer
(give title below)		            Other
(specify below)
       320 West Condor Avenue       ###-##-####   December 13, 2002       Executive VP & Chief Financial Officer
 
 
     
(Street)           5.   If Amendment, Date of Original   7.   Individual or Joint/Group Filing
(Check Applicable Line)
  X   Form filed by One Reporting Person
         Form filed by More than
    McAllen   TX   78504                   One Reporting Person
    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.   Title of Security
(Instr. 3)		   2.   Transaction Date   2A.   Deemed Execution Date, if any   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)		   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		   7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/Day/Year)   (Month/Day/Year)  
      (Instr. 3 and 4)                
                            Code   V       Amount   (A) or (D)   Price                        
    Class A Voting Common       12/3/02               A           0.0184   (A)   *       1,361.6425       (I)       By Trustee of ESOP
    Class A Voting Common                                                   4,125       (I)       By Trust for self IRA
    Class A Voting Common       12/13/02               S           2,000   (D)   34.01                        
    Class A Voting Common       12/13/02               S           2,100   (D)   34.02                        
    Class A Voting Common       12/13/02               S           772   (D)   34.00       0       (D)        
                                                                            
                                                                            
*
The amount represents shares allocated to my account as a participant in the Texas Regional Bancshares, Inc. Amended & Restated Employee Stock Ownership Plan, (the "ESOP").
    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)
                               
 
                                    Code   V       (A)   (D)       Date
Exercisable		   Expiration Date
     Option (right to buy)       22.08666                                               1-Jul 2001   15-Apr 2011
     Option (right to buy)       22.08666                                               1-Jul 2002   15-Apr 2011
     Option (right to buy)       22.08666                                               1-Jul 2003   15-Apr 2011
     Option (right to buy)       22.08666                                               1-Jul 2004   15-Apr 2011
     Option (right to buy)       31.10666                                               1-Aug 2002   31-May 2012
     Option (right to buy)       31.10666                                               1-Aug 2003   31-May 2012
     Option (right to buy)       31.10666                                               1-Aug 2004   31-May 2012
     Option (right to buy)       31.10666                                               1-Aug 2005   31-May 2012
     Option (right to buy)       31.10666                                               1-Aug 2002   31-May 2012
     Option (right to buy)       31.10666                                               1-Aug 2003   31-May 2012
     Option (right to buy)       31.10666                                               1-Aug 2004   31-May 2012
     Option (right to buy)       31.10666                                               1-Aug 2005   31-May 2012
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 Following Reported Transaction(s)
(Instr. 4)		   10.   Ownership Form of Derivative Securities: Direct (D) or Indirect (I) (Instr. 4)   11.   Nature of Indirect Beneficial Ownership
(Instr. 4)
   
                               
    Title   Amount or Number of Shares                                
     Class A Common Stock   1,815       (3)                        
     Class A Common Stock   1,815       (3)                        
     Class A Common Stock   1,815       (3)                        
     Class A Common Stock   1,815       (3)                        
     Class A Common Stock   563       (4)                        
     Class A Common Stock   563       (4)                        
     Class A Common Stock   562       (4)                        
     Class A Common Stock   562       (4)                        
     Class A Common Stock   563       (5)                        
     Class A Common Stock   563       (5)                        
     Class A Common Stock   562       (5)                        
     Class A Common Stock   562       (5)       11,760       (D)        

Explanation of Responses:

(3)
Employee stock option granted under Texas Regional Bancshares, Inc. 2000 Incentive Stock Option Plan.
(4)
Employee stock option granted under Texas Regional Bancshares, Inc. 2002 Incentive Stock Option Plan.
(5)
Employee stock option granted under Texas Regional Bancshares, Inc. 2002 Nonstatutory Stock Option Plan.

/s/ R. T. Pigott, Jr.   December 13, 2002
**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).

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.

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SEC 1472 (08-02)