SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* PYNE J H (Last) (First) (Middle) 55 WAUGH DRIVE SUITE 1000 (Street) HOUSTON TX 77007 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol KIRBY CORP [ KEX ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) President
	3. Date of Earliest Transaction (Month/Day/Year) 02/07/2003
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $.10 per share	02/07/2003		F		551	D	$24.46	103,622	D
Common Stock, par value $.10 per share	01/27/2004		F		1,411	D	$34.16	102,211	D
Common Stock, par value $.10 per share	02/09/2004		F		706	D	$31.89	101,505	D
Common Stock, par value $.10 per share	08/23/2004		F		33,744	D	$36.275	67,761	D
Common Stock, par value $.10 per share	08/23/2004		M		12,500	A	$18.3125	80,261	D
Common Stock, par value $.10 per share	08/23/2004		M		12,500	A	$16.4375	92,761	D
Common Stock, par value $.10 per share	08/23/2004		M		25,000	A	$18.0625	117,761	D
Common Stock, par value $.10 per share								4,404	I	401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$18.3125	08/23/2004		M			12,500	01/16/1999(1)	01/16/2005	Common Stock	12,500	$18.3125	810,158	D
Employee Stock Option (Right to Buy)	$16.4375	08/23/2004		M			12,500	01/15/2000(1)	01/15/2006	Common Stock	12,500	$16.4375	797,658	D
Employee Stock Option (Right to Buy)	$18.0625	08/23/2004		M			25,000	02/10/2003(2)	02/10/2005	Common Stock	25,000	$18.0625	772,658	D

Explanation of Responses:

1. Original option of 25,000 shares exercisable 25% after one year, 50% after two years, 75% after three years and 100% after four years from date of grant.

2. Original option of 100,000 shares exercisable 33% after one year, 67% after two years and 100% after three years from date of grant.

Remarks:

	G. Stephen Holcomb, Agent and Attorney-in-Fact	08/25/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.