X0202 4 2006-01-31 0 0001018946 STEINER LEISURE LTD STNR 0001253436 LAZARUS STEPHEN C/O STEINER MANAGEMENT SERVICES 770 S. DIXIE HIGHWAY - SUITE 200 CORAL GABLES FL 33146 0 1 0 0 Sr. V.P. & C.F.O. Common Shares 2006-01-31 4 A 0 11030 0.00 A 20030 D Employee Share Option (Right to Buy) 37.63 2006-01-31 4 A 0 11500 0.00 A 2007-01-31 2016-01-30 Common Shares 11500 11500 D These restricted shares vest in equal installments over three years, provided certain specified targeted company results are achieved in 2006. These options will vest in equal installments on each of the first three anniversaries of the date of grant. Stephen Lazarus 2006-02-02