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                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 5

               ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(f) of the Investment Company Act of 1940

[_]  Check box if no longer  subject to Section 16. Form 4 or Form 5 obligations
     may continue. See Instruction 1(b).
[_]  Form 3 Holdings Reported
[_]  Form 4 Transactions Reported
________________________________________________________________________________
1.   Name and Address of Reporting Person*

   Browne                            David                    M.
- --------------------------------------------------------------------------------
   (Last)                            (First)              (Middle)

                               4615 MacDonald Ct.
- --------------------------------------------------------------------------------
                                    (Street)

   Mason                               OH                   45040
- --------------------------------------------------------------------------------
   (City)                            (State)                (Zip)
________________________________________________________________________________
2.   Issuer Name and Ticker or Trading Symbol

                         Liquidmetal Technologies (LQMT)
________________________________________________________________________________
3.   IRS Identification Number of Reporting Person, if an Entity (Voluntary)
________________________________________________________________________________
4.   Statement for Month/Year

                                December 31, 2002
________________________________________________________________________________
5.   If Amendment, Date of Original (Month/Year)

________________________________________________________________________________
6.   Relationship of Reporting Person to Issuer
     (Check all applicable)

     [X]  Director                             [_]  10% Owner
     [_]  Officer (give title below)           [_]  Other (specify below)

                                _______________
________________________________________________________________________________
7.   Individual or Joint/Group Filing
     (Check applicable line)

     [X]  Form filed by one Reporting Person
     [_]  Form filed by more than one Reporting Person
________________________________________________________________________________


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           Table I -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
================================================================================
5. 6. 2A. 4. Amount of Owner- Deemed Securities Acquired (A) or Securities ship Execu- Disposed of (D) Beneficially Form: 7. tion (Instr. 3, 4 and 5) Owned at End Direct Nature of 2. Date, 3. ---------------------------- of Issuer's (D) or Indirect 1. Transaction if any Transaction (A) Fiscal Year Indirect Beneficial Title of Security Date (Month/ Code Amount or Price (Instr. 3 (I) Ownership (Instr. 3) (mm/dd/yy) Day/Year) (Instr. 8) (D) and 4) (Instr.4)(Instr. 4) - ------------------------------------------------------------------------------------------------------------------------------------ Liquidmetal Technologies Common Stock 40,323 D - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
* If the form is filed by more than one Reporting Person, see Instruction 4(b)(v). Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over) (Form 3/99) FORM 5 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================
9. 10. Number Owner- of ship 2. Deriv- of Conver- 5. 7. ative Deriv- 11. sion Number of Title and Amount Secur- ative Nature or 3A. Derivative 6. of Underlying 8. ities Secur- of Exer- Deemed Securities Date Securities Price Bene- ity: In- cise 3. Ex- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- ecution 4. or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action Date, Trans- of (D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date if any action (Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ (Month/ Code 4 and 5) Date Expira- Number ity Year (I) ship Security Secur- Day/ Day/ (Instr. ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Year) 8) (A) (D) cisable Date Title Shares 5) 4) 4) 4) - ------------------------------------------------------------------------------------------------------------------------------------ Liquidmetal Option to Technologies purchase Common common stock $15.00 * 04/04/12 Stock 50,000 D - ------------------------------------------------------------------------------------------------------------------------------------ Liquidmetal Option to Technologies purchase Common common stock $9.955 01/02/03 A4 10,000 ** 01/02/13 Stock 10,000 D - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Explanation of Responses: * 10,000 shares exercisable on each of April 4, 2003, 2004, 2005, 2006, and 2007. ** 2,000 shares exercisable on each of January 2, 2004, 2005, 2006, 2007, and 2008 /s/ Curt P. Creely February 14, 2003 - --------------------------------------------- ----------------------- CURT P. CREELY AS ATTORNEY IN FACT FOR Date DAVID M. BROWNE *** 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 provided is insufficient, see Instruction 6 for procedure.