X0201 5 2003-12-31 0 1 0000852426 PW EAGLE INC PWEI 0000923091 SPELL WILLIAM H 4706 WHITE OAKS ROAD EDINA MN 55424 1 1 0 0 Chief Executive Officer Common Stock 2002-01-15 5 G 0 8000 0 D 462284 D Common Stock 2003-01-13 4 M 0 L 60000 2.0625 A 522284 D Common Stock 2003-12-31 5 G 0 9000 0 D 513284 D Common Stock 2002-01-15 5 G 0 8000 0 A 8000 I By Trusts for Minor Children Common Stock 21429 I By Spouse Stock Option (Right to Buy) 2.0625 2003-01-13 4 M 0 L 60000 0 D 2003-07-22 Common Stock 60000 0 D Stock Option (Right to Buy) 1.50 2008-08-31 Common Stock 120000 120000 D Stock Option (Right to Buy) 3.50 2009-09-16 Common Stock 10000 10000 D Stock Option (Right to Buy) 3.089 2011-10-17 Common Stock 11250 11250 D Includes shares held in a Trust in which the reporting person is the beneficiary. Exercisable as to 40,800 shares on 3/2/99, 39,600 shares on 9/1/00 and 39,600 shares on 9/1/01. Exercisable in annual increments of 2,000 shares each, commencing 9/16/00. Exercisable in annual increments of 2,250 shares each, commencing 10/17/01. Exercisable in annual increments of 20,000 shares each, commencing 12/17/93, the date on which issuer closed an acquisition. William H. Spell 2004-03-10