X0202 4 2004-06-01 0 0000823094 SOTHEBYS HOLDINGS INC BID 0001248066 ZUCKERMAN MITCHELL 38500 WOODWARD AVENUE SUITE 100 BLOOMFIELD HILLS MI 48304 0 1 0 0 President, Soth Financial Serv Class A Ltd. Voting Common Stock 2004-06-01 4 C 0 7000 A 7000 D Class A Ltd. Voting Common Stock 2004-06-01 4 S 0 2000 15.07 D 5000 D Class A Ltd. Voting Common Stock 2004-06-01 4 S 0 1500 15.06 D 3500 D Class A Ltd. Voting Common Stock 2004-06-01 4 S 0 2000 15.05 D 1500 D Class A Ltd. Voting Common Stock 2004-06-01 4 S 0 100 15.03 D 1400 D Class A Ltd. Voting Common Stock 2004-06-01 4 S 0 1400 15 D 0 D Emplyee Stock Option - Right to Buy 10.875 2004-06-01 4 M 0 7000 10.875 D 2005-02-08 Class B Common Stock 7000 0 D Class B Common Stock 2004-06-01 4 M 0 7000 10.875 A Class A Limited Voting Common Stock 7000 7000 D Class B Common Stock 2004-06-01 4 C 0 7000 D Class A Limited Voting Common Stock 7000 0 D The Issuer's Class B Common Stock is freely convertible into the Issuer's Class A Limited Voting Common Stock on a one-for-one basis. Granted under the Issuer's 1987 Employee Stock Option Plan. 20% of the grant vested on each of the following dates: 2/9/1996, 2/9/1997, 2/9/1998, 2/9/1999 and 2/9/2000. This Form 4 is being filed to report a stock option exercise by Mr. Zuckerman for the following: the exercise of 7,000 options for the same number of the Issuer's Class B Common Stock shares at a price of $10.875 per share, the conversion of such Class B Common Stock shares to 7,000 Class A Limited Voting Common Stock shares and the sale of such Class A Limited Voting Common Stock shares. Mitchell Zuckerman 2004-06-02