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AAR CORP Director's Dealing 2003

Oct 27, 2003

31334_dirs_2003-10-27_b34fde3c-edac-478a-89cc-2e801149225a.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AAR CORP (AIR)
CIK: 0000001750
Period of Report: 2003-07-21

Reporting Person: WALFISH MARC JAY (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-07-21	Stock Option	$6.96	A	3500	Acquired	2013-07-21	Common Stock (3500)	Direct

Footnotes

F1: Grantee may elect to pay the exercise price of the option or any tax withholding obligation in connection therewith by directing the Company to withhold a portion of the shares otherwise distributable to the grantee upon exercise or by transferring to the Company previously acquired shares, valued at their fair market value on such taxable date.

F2: The option vests in four equal installments beginning on July 21, 2004.