SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

DAVIS STEPHEN W

(Last)

(First)

(Middle)

1817 FOXBOROUGH TRAIL

(Street)

FLOWER MOUND

75028

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/08/2004

3. Issuer Name and Ticker or Trading Symbol
SOURCECORP INC [ SRCP ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock⁽¹⁾	18,750⁽²⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Non-Qualified Stock Option (right to buy)⁽³⁾	⁽⁴⁾	⁽⁵⁾	Common Stock	10,000	$17.99	D
Non-Qualified Stock Option (right to buy)⁽³⁾	⁽⁶⁾	⁽⁷⁾	Common Stock	10,000	$21.12	D

Explanation of Responses:

1. Restricted Stock awarded under SOURCECORP, Incorporated 2002 Long-Term Incentive Plan.

2. Consist of (i) 5,000 shares of which the restrictions shall expire on July 1, 2006; provided that on the achievement of designated criteria, restrictions for up to 40% shall expire on January 31, 2005 and on the achievement of other designated criteria up to any remaining restrictions shall expire on January 31, 2006, (ii) 2,500 shares of which the restrictions shall expire on January 10, 2006; provided that on the achievement of designated criteria, restrictions for 25% shall expire, with the remaining restrictions expiring 25% per quarter over each of the following three quarters; and (iii) 11,250 shares of which the restrictions shall expire on January 10, 2007; provided that on the achievement of designated criteria, restrictions of 60% shall expire on January 10, 2006.

3. This option is granted under the Compnay's 2002 Long-Term Incentive Plan.

4. This option is exercisable as to 20% of the underlying shares on May 21, 2004, 30% on May 21, 2005 and 50% on May 21, 2006.

5. This option expires on May 21, 2013.

6. This option is exercisable as to 20% of the underlying shares on August 20, 2003, 30% on August 20, 2004 and 50% on August 20, 2005.

7. This option expires on August 20, 2012.

	Stephen W. Davis	01/12/2004
	** 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 5 (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.