U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP [X] Check this box if no longer subject to Section 16. 1. Name and Address of Reporting Person: William K. Watkins, 8100 East Camelback Road, Scottsdale, AZ 85251-2729 2. Issuer Name and Ticker or Trading Symbol: Amerityre Corporation (AMTY) 3. IRS or Social Security Number of Reporting Person (Voluntary): 4. Statement for (Month/Day/Year): 12/11/02 5. If Amendment, Date of Original (Month/Day/Year): 6. Relationship of Reporting Person(s) to Issuer (Check all Applicable) ( ) Director ( ) Officer, give title below ( ) 10% Owner (X) Other Title: 7. 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 Beneficially Owned 1. Title of Security: Common Stock 2. Transaction Date (Month/Day/Year): (i) 12/9/02 (ii) 12/10/02 (iii) 12/11/02 3. Transaction Code: S 4. Securities Acquired (A) or Disposed of (D): (i) 6,500 shares (D) at an average of $2.19 per share (ii) 26,800 shares (D) at an average of $2.12 per share and 13,500 shares (D) at an average of $2.02 per share (iii) 19,000 shares (D) at an average of $1.95 per share 5. Amount of Securities Beneficially Owned Following Reported Transaction(s): 183,200 shares 6. Ownership Form: Direct(D)or Indirect(I): (D) 7. Nature of Indirect Beneficial Ownership: n/a TABLE II DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF OR BENEFICIALLY OWNED 1. Title of Derivative Security: Option 2. Conversion or Exercise Price of Derivative Security: $4.00 per share 3. Transaction Date (Month/Day/Year): n/a 4. Transaction Code: n/a 5. Number of Derivative Securities Acquired (A) or Disposed of (D): n/a 6. Date Exercisable and Expiration Date (Month/Day/Year): Date Exercisable: April 1, 2002 Expiration Date: April 1, 2005 7. Title and Amount of Underlying Securities: Common Stock 200,000 shares 8. Price of Derivative Security: n/a 9. Number of Derivative Securities Beneficially Owned at End of Month: Option to acquire 200,000 shares 10. Ownership Form of Derivative Security, Direct (D) or Indirect (I): (D) 11. Nature of Indirect Beneficial Ownership: n/a Explanation of Responses: William K. Watkins was a director of the Company until November 1, 2002. Signature of Reporting Person: /S/ William K. Watkins Date: 12/11/02