X0201 4 2004-03-18 0 0000105608 WELLS GARDNER ELECTRONICS CORP WGA 0001232349 BURMAN MARSHALL L 800 NORTH MICHIGAN AVE UNIT 3201 CHICAGO IL 60611 1 0 0 0 Common Stock, $1.00 par value 2004-03-18 4 A 0 6094 2.86 A 90902 D Common Stock, $1.00 par value 2004-03-18 4 D 0 6094 4.3 D 84808 D Common Stock, $1.00 par value 2004-03-19 4 A 0 42200 2.74 A 84808 D Common Stock, $1.00 par value 2004-03-19 4 D 0 42200 4.25 D 42608 D Common Stock Option 2.86 2004-03-18 4 A 0 6094 2.86 A 2002-01-14 2010-01-14 Common Stock, $1.00 par value 6094 45860 D Common Stock Option 2.86 2004-03-19 4 A 0 3107 2.86 A 2002-01-14 2010-01-14 Common Stock, $1.00 par value 3107 42753 D Common Stock Option 2.74 2004-03-19 4 A 0 13911 2.74 A 2002-05-01 2010-05-01 Common Stock, $1.00 par value 13911 28842 D Common Stock Option 2.89 2004-03-19 4 A 0 14205 2.89 A 2003-05-01 2011-05-01 Common Stock, $1.00 par value 14205 14637 D Common Stock Option 2.55 2004-03-19 4 A 0 10977 2.55 A 2003-11-01 2012-05-01 Common Stock, $1.00 par value 10977 3660 D On January 14, 2000 Mr. Burman was granted an option prusuant to the WGA plan for the benefit of its non-employee directors exercisable for 9,201 shares of WGA common stock with an exercise price of $2.86 per share. The shares subject to this option vested 25% every six months from the date of grant and so were fully vested and exercisable on January 14, 2002. Prior to any of the sale transactions reported on this Form 4, Mr. Burman had beneficial ownership of 90,902 shares (38,948 shares owned and options to purchase 51,954 shares of which 48,294 were vested and the remaining 3,660 will be vested as of May 1, 2004. Following all of the transactions reportedherein, Mr. Burman has beneficial ownership of 42, 608 shares comprised of 38,948 shares and options to purchase 3,660 shares (the balance of the option described in footnote 5) which shall not vest until May 1, 2004. This acquisition is the result of the exercise by Mr. Burman of his right to acquire all of the vested shares under the options described in footnotes 4, 5 and 6 to this report. On May 1, 2000 Mr. Burman was granted an option pursuant to the WGA plan for the benefit of its non-employee directors exercisable for 13,911 shares of WGA comon stock withan an exercise price of $2.74 per share. The shares subject to this option vested 25% every six months from the date of grant and so were fully vested and exercisable on May 1, 2002. On May 1, 2001 Mr. Burman was granted an option pursuant to a WGA plan for the benefit of its non-employee directors exercisable for 14,205 shares of WGA common stock with an exercise price of $2.89 per share. The shares subject to this option vested 25% every six months from the date of grant and so were fully vested and exercisable on May 1, 2003. On May 1, 2002 Mr. Burman was granted an option pursuant to the WGA plan for the benefit of its non-employee directors exercisable for 14,637 shares of WGA common stock with an exercise price of $2.55 per share. The shares subject to this option vest 25% every six months from the date of grant. As of November 1, 2003, Mr. Burman was vested in 10,977 shares under this option; he will vest in the remaining 3,660 on May 1, 2004. Marshall L. Burman 2004-03-22