X0101 4/A2003-06-302003-07-01 0000746598 BRADY CORP BRC 0001222852 OLIVER MICHAEL O 0100Senior VP - Human ResourcesPhantom Stock Units02003-06-304A030.344232.916A1988-08-081988-08-08Class A Common Stock30.34425485.1622DThis security converts to a common stock on a 1 for 1 basisThe phantom stock units were accured under the Brady Corporation employee deferred compensation agreement and are to be settled in installment payments of Brady's Class A Common Stock upon the person's cessation of services as an employee. /s/ Donald E. Rearic2003-07-08