X0201 4 2003-07-31 0 0001097313 GRANT PRIDECO INC GRP 0001241880 LATHAM DAN 1330 POST OAK BLVD STE 2700 HOUSTON TX 77056 0 1 0 0 President - Drilling Products Phantom Stock Units 0 2003-07-31 5 A 0 E 380.08 11.2932 A Common Stock 380.08 5394.4 D Represents units credited to the participants account pursuant to the terms of the Company's Executive Director Deferred Compensation Plan. All phantom stock units credited under the Plan with respect to deferrals of compensation by participants are 100 percent vested at all times. All units credited under the Plan with respect to the Company's 7.5 percent allocation and matching allocation vest at 20 percent per year for each year of service with the Company. Distributions under the Plan are made upon termination of employment, retirement or death of the participant. Units are allocated at month-end based upon the fair market value of the common stock at month end. /s/ Philip A. Choyce, Authorized Signatory 2003-08-04