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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
[_] Check this box if
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Sugarman Burt
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(Last) (First) (Middle)
9440 Santa Monica Blvd Suite 407
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(Street)
Beverly Hills CA 90210
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol CHKR
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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 April 2002
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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 ___ Officer ___ 10% Owner ___ Other
(give title below) (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
Table I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
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CHECKERS DRIVE IN April
RESTAURANTS, INC 23, 2002 C V 59,354 A $3.00
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$.001 par value April
Common Stock 23, 2002 S V 11,000 D $12.42 48,354 D -
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Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
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Code V (A) (D) (1)
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Checkers Drive-In $ 3.00 April 23, 2002 C V 59,354
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Restaurants - Lender
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Warrants
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Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Securities ficial
(Instr. ficially Bene- Owner-
-------------------------------------------- 5) Owned ficially ship
Date Expira- Amount or at End Owned at (Instr.
Exer- tion Title Number of of End of 4)
cisable Date Shares Month Month(1)
(Instr. 4) (Instr. 4)
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4/23/2002 11/22/2002 Checkers 59,354 (1) - 0 - -
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Drive-in
Restaurants
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$.001 par
value common
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stock
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(1) Exercised warrants on April 23, 2002.
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Explanation of Responses:
/s/ Burt Sugarman 5-10-2002
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**Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If this 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 provided is insufficient, see Instruction 6 for procedure.