SEC FORM 4

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^*

BEARD WILLIAM M

(Last)

(First)

(Middle)

5600 N. MAY AVENUE, SUITE 320

(Street)

OKLAHOMA CITY

73112

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BEARD CO /OK [ BRCO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/31/2004

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $.0006665 par value								1,075,920	D
Common Stock, $.0006665 par value								72,428	I	By Irrev. Trust A
Common Stock, $.0006665 par value								102,648	I	By Irrev. Trust B
Common Stock, $.0006665 par value								125,322	I	By Irrev. Trust C
Common Stock, $.0006665 par value								10,106	I	By JGB Trust
Common Stock, $.0006665 par value								10,106	I	By JMB II Trust
Common Stock, $.0006665 par value								87,272.475	I⁽¹⁾	By 401(k)
Common Stock, $.0006665 par value								19,998	I	By B&M Limited
Common Stock, $.0006665 par value								2,518	I	By Spouse
Common Stock, $.0006665 par value								3,834	I	By RBL Trust
Common Stock, $.0006665 par value								483,958	I	By Charitable Unitrust

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
2003-2 Deferred Stock Comp. Units⁽²⁾	$0.0000	08/31/2004		J		3,566.026		08/08/1988	08/08/1988	Common Stock, $.0006665 par value	3,566.026	$0	363,551.155	D
Common Stock Warrants⁽³⁾	$0.5							12/01/2002	11/30/2007	Common Stock, $.0006665 par value	12,000		12,000	I	By Charitable Unitrust
Common Stock Warrants⁽⁴⁾	$0.25							02/07/2003	02/07/2008	Common Stock, $.0006665 par value	10,000		10,000	I	By B&M Limited
Common Stock Warrants⁽⁵⁾	$0.5							03/01/2003	02/29/2008	Common Stock, $.0006665 par value	12,000		12,000	I	By Charitable Unitrust
Common Stock Warrants⁽⁶⁾	$0.5							06/01/2003	05/31/2008	Common Stock, $.0006665 par value	12,000		12,000	I	By Charitable Unitrust
Common Stock Warrants⁽⁷⁾	$0.5							09/01/2003	08/31/2008	Common Stock, $.0006665 par value	9,000		9,000	I	By Charitable Unitrust
Stock Options⁽⁸⁾	$1.3542							11/01/1998	10/31/2004	Common Stock, $.0006665 par value	18,750		18,750	D

Explanation of Responses:

1. Represents shares held in The Beard Group 401(k) Plan for the benefit of the reporting person.

2. These stock units were accrued under The Beard Company 2003-2 Deferred Stock Compensation Plan and are to be settled 100% in BRCO Common Stock upon the reporting person's termination of service or termination of the Plan.

3. On May 31, 2002, the Charitable Unitrust purchased $120,000 of the Company's 10% subordinated Notes, together with a contingent right to receive Warrants to purchase up to 24,000 shares of the Company's common stock, depending on the holding period of the Notes. The Charitable Unitrust received 6,000 Warrants as of December 1, 2002, as a result of holding the Notes more than six months. No consideration was paid for the Warrants.

4. On February 7, 2003, B & M Limited purchased $50,000 of the Company's 10% Subordinated Notes, together with Warrants to purchase 5,000 shares of Beard's Common stock. No consideration was paid for the Warrants.

5. On May 31, 2002, the Charitable Unitrust purchased $120,000 of the Company's 10% Subordinated Notes, together with a contingent right to receive Warrants to purchase up to 24,000 shares of the Company's common stock, depending on the holding period of the Notes. The Charitable Unitrust received 6,0000 Warrants as of March 1, 2003 as a result of holding the Notes more than nine months. No consideration was paid for the Warrants.

6. On May 31, 2002, the Charitable Unitrust purchased $120,000 of the Company's 10% Subordinated Notes, together with a contingent right to receive Warrants to purchase up to 24,000 shares of the Company's common stock, depending on the holding period of the Notes. The Charitable Unitrust received 6,000 Warrants as of June 1, 2003 as a result of holding the Notes more than twelve months. No consideration was paid for the Warrants

7. On May 31, 2002, the Charitable Unitrust purchased $120,000 of the Company's 10% Subordinated Notes, together with a contingent right to receive Warrants to purchase up to 24,000 shares of the Company's common stock, depending on the holding period of the Notes. The Charitable Unitrust received 4,500 Warrants as of September 1, 2003 as a result of holding the Notes more than fifteen months. No consideration was paid for the Warrants

8. Balance left from the 50,000 options granted pursuant to The Beard Company's 1993 Stock Option Plan which have been previously reported.

Remarks:

	By: Rebecca G. Witcher, Attorney in Fact	08/31/2004
	** 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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