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OMB APPROVAL
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------ OMB Number: 3235-0287
FORM 4 Expires: January 31, 2005
------ Estimated average burden
hours per response ....... 0.5
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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
|_| Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Hedrick, W. Scott
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(Last) (First) (Middle)
2710 Sand Hill Road, Second Floor
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(Street)
Menlo Park, CA 94025
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Office Depot, Inc. ("ODP")
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3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
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4. Statement for Month/Year
2/14/2003
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|X| Director |_| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
|X| Form filed by One Reporting Person
|_| Form filed by More Than one Reporting Person
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Page 1 of 3
Form 4 (continued)
Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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| | | | Amount | |
| | | | of | |
| | | Securities | Secur- | | Nature
| | | Acquired (A) | ities | Owner- | of
| | | or Disposed | Bene- | ship | Indirect
| | | of (D) (Instr. | ficially | Form: | Bene-
| | Transaction | 3, 4 and 5) | Owned at | Direct | ficial
| | Code | ---------------- | End | (D) or | Owner-
| Transaction | (Instr. 8) | |(A)| | of Month | Indirect | ship
Title of Security | Date | ----------- | Amount|or |Price | (Instr. | (I) | (Instr.
(Instr. 3) | (mm/dd/yy) | Code | V | |(D)| | 3 and 4) | (Instr.4)| 4)
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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).
PERSONS WHO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE
NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL
NUMBER.
Page 2 of 3
Form 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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| | | |Number | | | | Number |Owner-|
| | | |of | | | | of |ship |
| | | |Deriv- | |Title and | | Deriv- |of |
|Conver-| | |ative | |Amount of | | ative |Deriv-|
|sion | | |Secur- | |Underlying | | Secur- |ative |Nature
|of | | |ities | |Securities | | ities |Secur-|of
|Exer- | | |Acquired |Date |(Instr. 3 |Price | Bene- |ity: |In-
|cise | |Trans- |(A) or |Exercisable and |and 4) |of | ficially|Direct|direct
|Price |Trans- |action |Disposed |Expiration Date |-------------|Deriv- | Owned |(D) or|Bene-
|of |action |Code |of(D) |(Month/Day/Year) | |Amount|ative | at End |In- |ficial
Title of |Deriv- |Date |(Instr.|(Instr.3,|-----------------| |or |Secur- | of |direct|Owner-
Derivative |ative |(Month/ |8) |4 and 5) |Date | Expira-| |Number|ity | Month |(I) |ship
Security |Secur- |Day/ |------ |-------- |Exer- | tion | |of |(Instr.| (Instr. |(Instr|(Instr.
(Instr. 3) |ity |Year) |Code|V |(A) | (D)|cisable | Date |Title |Shares|5) | 4) |4) |4)
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NQ Option Right
to buy (1) $11.485 2/14/03 A 7,500 2/14/06 2/14/13 common 7,500 -- 7,500 D
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NQ Option Right
to buy (2) $11.485 2/14/03 A 3,750 note 2 2/14/10 common 3,750 -- 3,750 D
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Explanation of Responses:
(1) Each option is exercisable with respect to one-third of the shares on
each annual anniversary date of the grant.
(2) Vests on the earlier of achievement of stock price performance target
of 25%-50% increase or 5 years.
/s/ W. Scott Hedrick 2/19/03
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**Signature of Reporting Person Date
** 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 provided is insufficient, see Instruction 6 for procedures.
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.
Page 3 of 3