X0201 4 2004-03-15 0 0000319256 SEARS ROEBUCK & CO S 0001200232 LACY ALAN J 3333 BEVERLY ROAD B6 277A HOFFMAN ESTATES IL 60179 1 1 0 0 Chief Executive Officer Common Share Units 2004-03-15 2004-03-15 4 A 0 4857.4193 44.36 A Common Shares 4857.4193 68174.5418 D The common share units were acquired by the reporting person pursuant to Sears, Roebuck and Co.'s Deferred Compensation Plan, as Amended and Restated to December 13, 2000 (the "Plan"). These units represent salary, annual incentive and/or long-term incentive payments deferred under the Plan and converted into units based on the market price of Sears common shares on the date of deferral. The units are credited with amounts representing dividends on common shares, as declared, which are also converted into units. These common share units are held in the restricted common share unit account of the Plan. If the common share units become unrestricted in accordance with the Plan they will be settled in cash, either in a lump sum or in a series of annual payments, following separation from service. Alan J. Lacy 2004-03-17