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)
04/30/2007

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								923,509	D
Common Stock, $.0006665 par value								78,891.23	I⁽¹⁾	By 401(k)
Common Stock, $.0006665 par value								19,998	I	By B&M Limited
Common Stock, $.0006665 par value								828,958	I	By Charitable Unitrust
Common Stock, $.0006665 par value								72,428	I	By Irrev. Trust A
Common Stock, $.0006665 par value								90,348	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								3,834	I	By RBL Trust
Common Stock, $.0006665 par value								2,518	I	By Spouse
Series A & B 12% Convertible Subordinated Notes 08								250,000	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)
2005 Deferred Stock Comp. Units⁽²⁾	⁽²⁾	04/30/2007		J		6,488.4		⁽²⁾	⁽²⁾	Common Stock, $.0006665 par value	6,488.4	$0	160,019.33	D
2003-2 Deferred Stock Comp. Units⁽³⁾	$0.00⁽³⁾							⁽³⁾	⁽³⁾	Common Stock, $.0006665 par value	338,957		338,957	D
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

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 2005 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. This type of security normally doesn't reflect the conversion or exercise price.

3. 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. This type of security normally doesn't reflect the conversion or exercise price.

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.

	By: Herb Mee, Jr., Attorney in Fact	04/30/2007
	** 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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