SEC Form 5
FORM 5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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
OMB APPROVAL
OMB Number: 3235-0362
Estimated average burden
hours per response: 1.0
  
 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
 Form 3 Holdings Reported.
  
 Form 4 Transactions Reported.
1. Name and Address of Reporting Person*
SEABERG LAIDACKER M
(Last) (First) (Middle)
1300 MAIN STREET
(Street)
ATCHISON KS 66002
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MGP INGREDIENTS INC [ MGPI ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President/CEO
3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
06/30/2004
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 at end of Issuer's Fiscal Year (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Amount (A) or (D) Price
Common Stock 12/09/2003 G 1,000 A $0 406,268 I by Trust
Common Stock 12/04/2003 G 3,600 D $0 403,268 I by Trust
Common Stock 03/30/2004 G 2,505 D $0 400,763 I by Trust
Common Stock 06/07/2004 G 1,466 D $0 399,297 I by Trust
Common Stock 12/09/2003 G 1,000 A $0 109,635 I by Spouse's trust
Common Stock 70,906(1) I bu ESOP
Common Stock 9,515(2) I by ESPP
Preferred Stock 71 D
Preferred Stock 221 I by Cray Family Trust
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)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (NQ) $13.75 (3) 12/11/2007 Common Stock 17,500 0 D
Employee Stock Option $13.75 (4) 12/11/2007 Common Stock 6,500 0 D
Employee Stock Option $12.5 (5) 12/10/2008 Common Stock 7,300 0 D
Employee Stock Option (NQ) $12.5 (6) 12/09/2009 Common Stock 16,700 0 D
Employee Stock Option (NQ) $8 (7) 12/09/2009 Common Stock 18,000 0 D
Employee Stock Option $8 (8) 12/09/2009 Common Stock 6,000 0 D
Employee Stock Option $9.3125 (9) 06/08/2011 Common Stock 12,000 0 D
Employee Stock Option (NQ) $9.3125 (10) 06/08/2011 Common Stock 12,000 0 D
Employee Stock Option $12.89 (11) 06/12/2012 Common Stock 18,742 0 D
Employee Stock Option (NQ) $12.89 (12) 06/12/2012 Common Stock 5,258 0 D
Explanation of Responses:
1. Includes 484 shares acquired between the period of 7/1/03 - 6/30/04 under ESOP in a transaction exempt under 16b-3(c).
2. Includes 296 shares acquired between the period of 7/1/03 - 6/30/04 under ESPP in a transaction exempt under 16b-3(c).
3. 6,000 shares vested on 12/11/98; 6000 on 12/11/99; 5,500 on 12/11/00
4. 500 vested on 12/11/00; 6,000 on 12/11/01
5. 1,300 shares vested on 12/10/01; 6,000 on 12/10/02
6. 6,000 vested on 12/10/99; 6,000 vested on 12/10/00; 4,700 vested on 12/10/01
7. 6,000 shares vested on 12/9/00 and 12/9/01; 3,000 shares vested on 12/9/02 and 12/9/03
8. 3,000 shares vested on 12/9/02; 3,000 shares vested on 12/9/03
9. 6,000 shares vested on 6/8/04; 6,000 vest on 6/8/05
10. 6,000 shares vested on 6/8/02; 6,000 shares vested on 6/8/03
11. 5,896 vested on 6/12/03; 3,423 vested on 6/12/04; 3,423 vest on 6/12/05; 6,000 vest on 6/12/06
12. 104 shares vested on 6/12/03; 2,577 vested on 6/12/04; 2,577 vest on 6/12/05
Laidacker M. Seaberg 06/30/2004
** 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 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.