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*
HIATT ROBERT L
(Last) (First) (Middle)
980 NORTH MICHIGAN AVENUE
SUITE 1620
(Street)
CHICAGO IL 60611
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
NOVAMED EYECARE INC [ NOVA ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Vice President Finance
3. Date of Earliest Transaction (Month/Day/Year)
08/11/2003
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
Common Stock 08/11/2003 M 17,000 A $1.75 0 D
Common Stock 08/11/2003 S 17,000 D $1.95 0 D
Common Stock 08/12/2003 M 2,313 A $1.0625 0 D
Common Stock 08/12/2003 S 2,313 D $1.95 0 D
Common Stock 08/12/2003 M 187 A $1.75 0 D
Common Stock 08/12/2003 S 187 D $1.95 0 D
Common Stock 5,238 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
Stock Option (right to buy) $2.4 (1) 09/22/2007 Common Stock 10,000 0 D
Stock Option (right to buy) $12 (2) 03/09/2010 Common Stock 3,000 0 D
Stock Option (right to buy) $1.0625 08/12/2003 M 2,313 (3) 12/29/2010 Common Stock 27,687 (8) 0 D
Stock Option (right to buy) $1.75 08/11/2003(7) M 17,187 (4) 04/20/2011 Common Stock 12,813 (9) 0 D
Stock Option (right to buy) $0.78 (5) 04/02/2012 Common Stock 40,000 0 D
Stock Option (right to buy) $1.27 (6) 03/21/2013 Common Stock 15,000 0 D
Explanation of Responses:
1. This option was originally granted for 20,000 shares on September 22, 1997. Subject to certain restrictions, 2,500 of these options vested on March 21, 1998, with the remainder vesting 216 per month starting on April 21, 1998. The Reporting Person exercised and sold 10,000 shares in February 2000. This exercise and sale occurred prior to this individual becoming a Reporting Person.
2. Subject to certain restrictions, 375 of these options vested on September 8, 2000, with the remainder vesting 62 per month starting on October 8, 2000.
3. Subject to certain restrictions, 3,750 of these options vested on June 28, 2001, with the remainder vesting 625 per month starting on July 28, 2001. The Reporting Person exercised and sold 2,313 shares on August 12, 2003.
4. Subject to certain restrictions, 3,750 of these options vested on October 19, 2001, with the remainder vesting 625 per month starting on November 19, 2001. The Reporting Person exercised and sold 17,000 shares on August 11, 2003 and exercised and sold 187 shares on August 12, 2003.
5. Subject to certain restrictions, 5,000 of these options vested on October 1, 2002, with the remainder vesting 833 per month starting on November 2, 2002.
6. Subject to certain restrictions, 1,875 of these options will vest on September 20, 2003, with the remainder vesting 312 per month starting on October 21, 2003.
7. 17,000 exercised and sold on 8/11/03; and 187 exercised and sold on 8/12/03.
8. Purchased at $1.0625 and sold at $1.95.
9. Purchased at $1.75 and sold at $1.95.
/S/ ROBERT L. HIATT 08/13/2003
** 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.