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*
DEBOER BRYAN B

(Last) (First) (Middle)
360 E. JACKSON ST.

(Street)
MEDFORD OR 97501

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
LITHIA MOTORS INC [ LAD ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
President & COO
3. Date of Earliest Transaction (Month/Day/Year)
12/16/2008
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)
Code V Amount (A) or (D) Price
Class A Common 12/16/2008 S 1,400 D $2.99 4,600 D
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Common $0.00 (1) (1) Class A Common 1,871 1,871 I By Custodian For Child
Class B Common $0.00 (1) (1) Class A Common 66,348 66,348 I Interest owned by a LLC
Stock Option (2000c) (NQ) (right to buy) $16.75 (2) 01/06/2010 Class A Common 5,554 5,554 D
Stock Option (2002nq) (right to buy) $15.13 12/26/2007 12/26/2012 Class A Common 8,000 8,000 D
Stock Option (right to buy) $29.42 03/11/2009 03/11/2010 Class A Common 12,000 12,000 D
Stock Option (right to buy) $27.58 02/09/2010 02/09/2011 Class A Common 16,002 16,002 D
Stock Option (2000ab) (NQ) (right to buy) $16.75 (3) 01/06/2010 Class A Common 14,446 14,446 D
Stock Option (2000bj) (NQ) (right to buy) $16.75 01/06/2005 01/06/2010 Class A Common 4,000 4,000 D
Stock Option (2001nq) (right to buy) $19.24 12/26/2006 12/26/2011 Class A Common 8,000 8,000 D
Stock Option (right to buy) $31.67 03/10/2011 03/10/2012 Class A Common 18,000 18,000 D
Stock Option (right to buy) $28.34 03/09/2012 03/09/2013 Class A Common 18,000 18,000 D
Stock Option (right to buy) $9.38 03/10/2012 03/09/2014 Class A Common 25,000 25,000 D
Stock Option (right to buy) $5.37 (4) 08/11/2014 Class A Common 80,000 80,000 D
Explanation of Responses:
1. Class B Common converts to Class A Common on a 1:1 ratio at holder's discretion.
2. The options vest as to 50% of total grant on 3rd anniversary of grant date and remaining 50% on 4th anniversary date.
3. The option vests as follows: 4,000 on 1/6/01; 4,000 on 1/6/02; 2,447 on 1/6/03; 2,029 on 1/6/04 and 1,970 on 1/6/05
4. These opitions vest 50% on 2nd anniversary, 25% on 3rd anniversary and 25% on 4th anniversary.
Remarks:
This sale transacted to realize capital lose for tax purposes.
By: Cliff E. Spencer, Attorney in Fact 12/16/2008
** 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.
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 Number.