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  <TR vAlign=top>
    <TD width=416>
      <P align=right>&nbsp;</P></TD>
    <TD width=143><FONT size=-1>OMB APPROVAL</FONT></TD></TR>
  <TR vAlign=top>
    <TD width=376>&nbsp;</TD>
    <TD width=177><FONT size=-1>OMB Number: 3235-0287<BR>Expires: January 31,
      2005<BR>Estimated average burden<BR>hours per response. . . . . . .
      .0.5</FONT></TD></TR></TABLE>
<P></P>
<CENTER>&nbsp;
<P><FONT size=-1><STRONG>UNITED STATES SECURITIES AND EXCHANGE
COMMISSION</STRONG></FONT></CENTER>
<CENTER><FONT size=-1><STRONG>Washington, D.C. 20549</STRONG></FONT>
<P></P></CENTER>
<P align=center><FONT size=-1><STRONG>FORM 4</STRONG></FONT></P>
<P align=center><FONT size=-1><STRONG>STATEMENT OF CHANGES IN BENEFICIAL
OWNERSHIP</STRONG></FONT></P>
<P align=center>&nbsp;</P>
<CENTER><FONT size=-1>Filed pursuant to Section 16(a) of the Securities Exchange
Act of 1934,</FONT></CENTER>
<CENTER><FONT size=-1>Section 17(a) of the Public Utility Holding Company Act of
1935 or </FONT></CENTER>
<CENTER><FONT size=-1>Section 30(f) of the Investment Company Act of 1940</FONT>
<P>&nbsp;</P></CENTER>
<P><FONT face="Times New Roman" size=-1>[ ]</FONT><FONT size=-1> Check this box
if no longer </FONT><FONT face="Times New Roman" size=-1></FONT><FONT
size=-1>subject to Section 16. Form 4 or Form 5 obligations may
continue.</FONT><FONT face="Times New Roman" size=-1></FONT><FONT size=-1> See
Instruction 1(b).</FONT></P>
<P><FONT size=-1>(Print or Type Responses)</FONT></P>
<TABLE width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 3px double" colSpan=3><FONT size=-1>1. Name
      and Address of Reporting Person*</FONT></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px dashed"><FONT size=-1>
      <P align=center><STRONG>Hill</STRONG></FONT></P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px dashed"><FONT size=-1>
      <P align=center><STRONG>Richard</STRONG></FONT></P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px dashed"><FONT size=-1>
      <P align=center><STRONG>G.</STRONG></FONT></P></TD></TR>
  <TR vAlign=top>
    <TD><FONT size=-1>
      <P align=center>(Last)</FONT></P></TD>
    <TD><FONT size=-1>
      <P align=center>(First)</FONT></P></TD>
    <TD><FONT size=-1>
      <P align=center>(Middle)</FONT></P></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px dashed" colSpan=3><FONT size=-1>
      <P align=center><STRONG>90 Taylor Drive</STRONG></FONT></P></TD></TR>
  <TR vAlign=top>
    <TD><FONT size=-1></FONT></TD>
    <TD>
      <P align=center></FONT><FONT size=-1>(Street)</FONT></P></TD>
    <TD><FONT size=-1></FONT></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px dashed">
      <P align=center></FONT><FONT size=-1><STRONG>North
      Tonawanda</STRONG></FONT></P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px dashed"><FONT size=-1>
      <P align=center><STRONG>NY</STRONG></FONT></P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px dashed"><FONT size=-1>
      <P align=center><STRONG>14120-0748</STRONG></FONT></P></TD></TR>
  <TR vAlign=top>
    <TD><FONT size=-1>
      <P align=center>(City)</FONT></P></TD>
    <TD><FONT size=-1>
      <P align=center>(State)</FONT></P></TD>
    <TD><FONT size=-1>
      <P align=center>(Zip)</FONT></P></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-TOP-WIDTH: 1px"></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 3px double" colSpan=2></FONT><FONT
      size=-1>2. Issuer Name and Ticker or Trading Symbol</FONT></TD>
    <TD style="BORDER-TOP: #000000 3px double">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD></FONT><FONT size=-1><STRONG>Taylor Devices, Inc.
      (TAYD)</STRONG></FONT></TD>
    <TD>&nbsp;</TD>
    <TD></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 3px double" colSpan=3></FONT><FONT
      size=-1>3. I.R.S. Identification Number of Reporting Person, if an entity
      (voluntary)</FONT>
      <P>&nbsp;</P></TD></TR>
  <TR vAlign=top>
    <TD><FONT size=-1></FONT></TD>
    <TD></TD>
    <TD></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 3px double" colSpan=3></FONT><FONT
      size=-1>4. Statement for Month / Day / Year</FONT></TD></TR>
  <TR vAlign=top>
    <TD><FONT size=-1><STRONG>December 31, 2002</STRONG></FONT></TD>
    <TD><FONT size=-1></FONT></TD>
    <TD></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 3px double" colSpan=2></FONT><FONT
      size=-1>5. If Amendment, Date of Original (Month / Day / Year)</FONT></TD>
    <TD style="BORDER-TOP: #000000 3px double">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD></TD>
    <TD></TD>
    <TD></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 3px double" colSpan=3></FONT><FONT
      size=-1>6. Relationship of Reporting Person(s) to Issuer (Check all
      applicable)</FONT></TD></TR>
  <TR vAlign=top>
    <TD><FONT size=-1>[ <STRONG>X</STRONG> ] Director</FONT></TD>
    <TD><FONT size=-1></FONT></TD>
    <TD></FONT><FONT size=-1>[&nbsp;&nbsp;&nbsp;&nbsp; ] 10%
Owner</FONT></TD></TR>
  <TR vAlign=top>
    <TD><FONT size=-1>[ <STRONG>X</STRONG> ] Officer (give title
    below)</FONT></TD>
    <TD><FONT size=-1></FONT></TD>
    <TD></FONT><FONT size=-1>[&nbsp;&nbsp;&nbsp;&nbsp; ] Other (specify
      below)</FONT></TD></TR>
  <TR vAlign=top>
    <TD><FONT size=-1></FONT></TD>
    <TD></FONT><U><FONT size=-1><STRONG>Vice President</STRONG></FONT></U></TD>
    <TD><FONT size=-1></FONT></TD></TR>
  <TR vAlign=top>
    <TD></TD>
    <TD></TD>
    <TD></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 3px double" colSpan=3></FONT><FONT
      size=-1>7. Individual or Joint/Group Filing (Check Applicable
    Line)</FONT></TD></TR>
  <TR vAlign=top>
    <TD colSpan=2><FONT size=-1>[ <STRONG>X</STRONG> ] Form filed by One
      Reporting Person</FONT></TD>
    <TD><FONT size=-1></FONT></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 3px double" colSpan=2></FONT><FONT
      size=-1>[&nbsp;&nbsp;&nbsp;&nbsp; ] Form filed by More than One Reporting
      Person</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 3px double">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD></TD>
    <TD></TD>
    <TD></TD></TR></TABLE>
<P></P>
<P align=center></FONT><FONT size=-1></FONT><FONT size=-1></FONT><FONT
size=-1></FONT><FONT face="Times New Roman" size=-1></FONT><FONT
face="Times New Roman" size=-1><STRONG>Table 1 - Non-Derivative Securities
Acquired, Disposed of, or Beneficially Owned</STRONG></FONT></P>
<TABLE height=177 width="100%" border=1>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=84 rowSpan=2><FONT face="Times New Roman"
      size=-2>1. Title of Security</FONT> <BR><FONT face="Times New Roman"
      size=-2>&nbsp; &nbsp; (Instr. 3)</FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=84 rowSpan=2><FONT face="Times New Roman"
      size=-2>2. Transaction Date</FONT><BR><BR><FONT face="Times New Roman"
      size=-2>&nbsp; &nbsp;(Month/</FONT><BR><FONT face="Times New Roman"
      size=-2>&nbsp; &nbsp;Day/</FONT><BR><FONT face="Times New Roman"
      size=-2>&nbsp; &nbsp;Year)</FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 colSpan=2 height=59><FONT face="Times New Roman"
      size=-2>3. Transaction </FONT><BR><FONT face="Times New Roman"
      size=-2>&nbsp; &nbsp; Code</FONT><BR><FONT face="Times New Roman"
      size=-2>&nbsp; &nbsp; (Instr. 8)</FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 colSpan=3 height=59><FONT face="Times New Roman"
      size=-2>4. Securities Acquired (A) </FONT><BR><FONT face="Times New Roman"
      size=-2>&nbsp; &nbsp; or Disposed of (D)</FONT><BR><FONT
      face="Times New Roman" size=-2>&nbsp; &nbsp; (Instr. 3, 4 and 5)</FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=84 rowSpan=2><FONT face="Times New Roman"
      size=-2>5. Amount of</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp;
      &nbsp; Securities</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp;
      &nbsp; Beneficially</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp;
      &nbsp; Owned at</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp;
      &nbsp; End of</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp; &nbsp;
      Month</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp; &nbsp; (Instr.
      3 and 4)</FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=84 rowSpan=2><FONT face="Times New Roman"
      size=-2>6. Ownership</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp;
      &nbsp; Form:</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp; &nbsp;
      Direct (D)</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp; &nbsp; Or
      Indirect</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp; &nbsp;
      (I)</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp; &nbsp; (Instr.
      4)</FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=84 rowSpan=2><FONT face="Times New Roman"
      size=-2>7.Nature of</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp;
      &nbsp; Indirect</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp;
      &nbsp; Benficial</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp;
      &nbsp; Ownership</FONT><BR><FONT face="Times New Roman" size=-2>&nbsp;
      &nbsp; (Instr. 4)</FONT></TD></TR>
  <TR vAlign=top></TD></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19>
      <P></P><FONT size=1>Code</FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT size=1>V</FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT size=1>Amount</FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT face="Times New Roman" size=-2>(A) or
      (D)</FONT></TD>
    <TD
    style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT
  size=1>Price</FONT></TD></TD></TD></TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT face="Times New Roman"
      size=2><STRONG>Common Stock</STRONG></FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT face="Times New Roman"
      size=2><STRONG>12/31/02</STRONG></FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT face="Times New Roman" size=2>
      <P align=center><STRONG>P</STRONG></FONT></P></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19>&nbsp;</TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19></FONT><FONT face="Times New Roman"
      size=2><STRONG>1,212</STRONG></FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT face="Times New Roman" size=2>
      <P align=center><STRONG>A</STRONG></FONT></P></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT face="Times New Roman"
      size=2><STRONG>$2.340</STRONG></FONT></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT face="Times New Roman" size=2>
      <P align=center><STRONG>54,098</STRONG></FONT></P></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT face="Times New Roman" size=2>
      <P align=center><STRONG>D</STRONG></FONT></P></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19></TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19>
      <P align=center><B><FONT face="Times New Roman"
      size=2>656</STRONG></FONT></B></P></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT face="Times New Roman" size=2>
      <P align=center><STRONG>I</STRONG></FONT></P></TD>
    <TD
    style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 4px; BORDER-TOP: 1px solid; PADDING-LEFT: 4px; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid"
    borderColor=#000000 height=19><FONT face="Times New Roman"
      size=2><STRONG>Spouse &amp; Children</STRONG></FONT></TD></TR>
  <TR vAlign=top>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD></TR>
  <TR vAlign=top>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD>
    <TD height=1></TD></TR></TABLE>
<P></FONT><FONT face="Times New Roman" size=-2></FONT><FONT
face="Times New Roman" size=-2></FONT><FONT face="Times New Roman"
size=-2></FONT><FONT face="Times New Roman" size=2>Reminder: Report on a
separate line for each class of securities beneficially owned directly or
indirectly.</FONT></P>
<P><FONT face="Times New Roman" size=-1>*If the form is filed by more than one
reporting person, <EM>see</EM> Instruction 4(b)(v).</FONT></P>
<P><FONT face="Times New Roman" size=-1><STRONG>Potential persons who are to
respond to the collection of information contained in this form are not required
to respond unless the form displays a currently valid OMB control
number.</STRONG></FONT></P>
<P align=right><FONT face="Times New Roman" size=-1>(Over)</FONT></P>
<P align=right><FONT face="Times New Roman" size=-1>SEC 1474 (9-02)</FONT></P>
<P><FONT face="Times New Roman" size=-1><STRONG>FORM 4
(continued)</STRONG></FONT></P>
<CENTER><FONT face="Times New Roman" size=-1><STRONG>Table II - Derivative
Securities Acquired, Disposed of, or Beneficially Owned</STRONG></FONT></CENTER>
<CENTER><FONT face="Times New Roman" size=-1><STRONG>(<EM>e.g., </EM>puts,
calls, warrants, options, convertible securities)</STRONG></FONT>
<P>&nbsp;</P></CENTER>
<TABLE width=677 border=1>

  <TR vAlign=top>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=85 rowSpan=2><FONT face="Times New Roman" size=-2>1 .Title of
      Derivative &nbsp; &nbsp; Security </FONT><BR><FONT face="Times New Roman"
      size=-2>&nbsp; &nbsp; (Instr. 3)</FONT></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=122 rowSpan=2><FONT face="Times New Roman" size=-2>2. Conversion or
      Exercise Price of Derivative Security</FONT></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=93 rowSpan=2><FONT face="Times New Roman" size=-2>3. Transaction
      Date (Month/ Day/ Year)</FONT></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=63 colSpan=2><FONT face="Times New Roman" size=-2>4. Transaction
      </FONT><BR><FONT face="Times New Roman" size=-2>&nbsp; &nbsp;Code
      </FONT><BR><FONT face="Times New Roman" size=-2>&nbsp; &nbsp; (Instr.
      8)</FONT></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=123 colSpan=2><FONT face="Times New Roman" size=-2>5. Number of
      Derivative Securities Acquired (A) or Disposed of (D)</FONT><BR><FONT
      face="Times New Roman" size=-2><BR>(Instr. 3, 4 and 5)</FONT></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=151 colSpan=2><FONT face="Times New Roman" size=-2>6. Date
      Exercisable and Expiration &nbsp; &nbsp;&nbsp; &nbsp;Date
      (Month/Day/Year)</FONT></TD></TR>
  <TR vAlign=top></TD></TD></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=33>
      <P align=center><FONT face="Times New Roman" size=-2>Code</FONT></P></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=24><FONT face="Times New Roman" size=-2>
      <P align=center>V</FONT></P></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=54><FONT face="Times New Roman" size=-2>
      <P align=center>(A)</FONT></P></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=63><FONT face="Times New Roman" size=-2>
      <P align=center>(D)</FONT></P></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=75><FONT face="Times New Roman" size=-2>Date</FONT><BR><FONT
      face="Times New Roman" size=-2>Exercisable</FONT></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=70><FONT face="Times New Roman" size=-2>Expiration</FONT><BR><FONT
      face="Times New Roman" size=-2>Date</FONT></TD></TR>
  <TR vAlign=top>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=85>&nbsp;</TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=122></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=93></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=33></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=24></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=54></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=63></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=75></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    width=70></TD></TR>
  <TR vAlign=top>
    <TD width=85></TD>
    <TD width=122></TD>
    <TD width=93></TD>
    <TD width=33></TD>
    <TD width=24></TD>
    <TD width=54></TD>
    <TD width=63></TD>
    <TD width=75></TD>
    <TD width=70></TD></TR>
  <TR vAlign=top>
    <TD width=85></TD>
    <TD width=122></TD>
    <TD width=93></TD>
    <TD width=33></TD>
    <TD width=24></TD>
    <TD width=54></TD>
    <TD width=63></TD>
    <TD width=75></TD>
    <TD width=70></TD></TR>
  <TR vAlign=top>
    <TD width=85></TD>
    <TD width=122></TD>
    <TD width=93></TD>
    <TD width=33></TD>
    <TD width=24></TD>
    <TD width=54></TD>
    <TD width=63></TD>
    <TD width=75></TD>
    <TD width=70></TD></TR></TABLE>
<P></P>
<P></P>
<P></P>
<P></P>
<P></P>
<P align=center></FONT>
<P align=center>&nbsp;
<P align=center><FONT face="Times New Roman" size=2><B>Table II - Derivative
Securities Acquired, Disposed of, or Beneficially Owne</B></FONT><FONT
face="Times New Roman" size=-2>d</STRONG></FONT>
<CENTER></CENTER>
<CENTER><FONT face="Times New Roman" size=-1><STRONG>(<EM>e.g., </EM>puts,
calls, warrants, options, convertible securities)</STRONG></FONT><FONT
face="Times New Roman" size=-1></FONT><FONT face="Times New Roman"
size=-2></FONT></CENTER>
<CENTER><FONT face="Times New Roman" size=-1><STRONG>(continued)</STRONG></FONT>
<P>&nbsp;</P>
<P></P>
<TABLE width="100%" border=1>

  <TR vAlign=top>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    colSpan=2><FONT face="Times New Roman" size=-2>7. Title and Amount of
      Underlying Securities (Instr. 3 and 4)</FONT></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    rowSpan=2><FONT face="Times New Roman" size=-2>8. Price of Derivative
      &nbsp; &nbsp;Security</FONT> <BR><BR><FONT face="Times New Roman"
      size=-2>(Instr. 5)</FONT></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    rowSpan=2><FONT face="Times New Roman" size=-2>9. Number of derivative
      Securities &nbsp; &nbsp;Beneficially Owned at End of Month </FONT>
      <P></P>
      <P><FONT face="Times New Roman" size=-2>(Instr. 4)</FONT></P></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    rowSpan=2><FONT face="Times New Roman" size=-2>10. Ownership Form of
      Derivative Security Direct (D) or Indirect (I) </FONT>
      <P></P>
      <P><FONT face="Times New Roman" size=-2>(Instr. 4)</FONT></P></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000
    rowSpan=2><FONT face="Times New Roman" size=-2>11. Nature of Indirect
      Beneficial Ownership</FONT>
      <P></P>
      <P><FONT face="Times New Roman" size=-2>(Instr. 4)</FONT></P></TD></TR>
  <TR vAlign=top>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px"
      borderColor=#000000><FONT face="Times New Roman" size=-2>Title</FONT></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px"
      borderColor=#000000><FONT face="Times New Roman" size=-2>Amount or Number
      of Shares</FONT></TD></TD></TD></TD></TD></TR>
  <TR vAlign=top>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px"
  borderColor=#000000></TD></TR>
  <TR vAlign=top>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px"
  borderColor=#000000></TD></TR>
  <TR vAlign=top>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px"
  borderColor=#000000></TD></TR>
  <TR vAlign=top>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px" borderColor=#000000></TD>
    <TD style="PADDING-RIGHT: 4px; PADDING-LEFT: 4px"
  borderColor=#000000></TD></TR></TABLE>
<P align=left><FONT face="Times New Roman" size=-2>Explanation of
Responses:</FONT> </P>
<CENTER>
<CENTER>
<P align=left><FONT face="Times New Roman"><U>s/ Richard G. Hill</U>&nbsp;
&nbsp; &nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp; &nbsp;
&nbsp;&nbsp; &nbsp;&nbsp; &nbsp; <U>January 2, 2003 </U></FONT><FONT
face="Times New Roman" size=-1></FONT><BR><FONT face="Times New Roman"
size=-1>**Signature of Reporting Person &nbsp; &nbsp;&nbsp; &nbsp;&nbsp;
&nbsp;&nbsp; &nbsp;&nbsp; &nbsp;Date</FONT></P>
<P align=left><FONT face="Times New Roman" size=-1>**Intentional misstatements
or omissions of facts constitute Federal Criminal Violations.</FONT><BR><FONT
face="Times New Roman" size=-1><EM>See </EM>18 U.S.C. 1001 and 15 U.S.C.
78ff(a). </FONT></P>
<CENTER>
<P align=left><FONT face="Times New Roman" size=-1>Note: File three copies of
this Form, one of which must be manually signed.</FONT><BR><FONT
face="Times New Roman" size=-1>If space is insufficient, <EM>see</EM>
Instruction 6 for procedure.</FONT></P>
<CENTER>
<P align=left><FONT face="Times New Roman" size=-1>Potential persons who are to
respond to the collection of information contained in this form are not required
to respond unless the form displays a currently valid OMB
Number.</FONT></P></CENTER></CENTER></CENTER></CENTER></CENTER></BODY></HTML>
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4:
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31,
      2005
Estimated average burden
hours per response. . . . . . .
      .0.5
UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 4
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 this box
if no longer
subject to Section 16. Form 4 or Form 5 obligations may
continue.
See
Instruction 1(b).
(Print or Type Responses)
1. Name
      and Address of Reporting Person*
Hill
Richard
G.
(Last)
(First)
(Middle)
90 Taylor Drive
(Street)
North
      Tonawanda
NY
14120-0748
(City)
(State)
(Zip)
2. Issuer Name and Ticker or Trading Symbol
Taylor Devices, Inc.
      (TAYD)
3. I.R.S. Identification Number of Reporting Person, if an entity
      (voluntary)
4. Statement for Month / Day / Year
December 31, 2002
5. If Amendment, Date of Original (Month / Day / Year)
6. Relationship of Reporting Person(s) to Issuer (Check all
      applicable)
[
X
] Director
[     ] 10%
Owner
[
X
] Officer (give title
    below)
[     ] Other (specify
      below)
Vice President
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 1 - Non-Derivative Securities
Acquired, Disposed of, or Beneficially Owned
1. Title of Security
(Instr. 3)
2. Transaction Date
(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 at
End of
Month
(Instr.
      3 and 4)
6. Ownership
Form:
Direct (D)
Or
      Indirect
(I)
(Instr.
      4)
7.Nature of
Indirect
Benficial
Ownership
(Instr. 4)
Code
V
Amount
(A) or
      (D)
Price
Common Stock
12/31/02
P
1,212
A
$2.340
54,098
D
656
I
Spouse & Children
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).
Potential persons who are to
respond to the collection of information contained in this form are not required
to respond unless the form displays a currently valid OMB control
number.
(Over)
SEC 1474 (9-02)
FORM 4
(continued)
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)
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)
Code
V
(A)
(D)
Date
Exercisable
Expiration
Date
Table II - Derivative
Securities Acquired, Disposed of, or Beneficially Owne
d
(
e.g.,
puts,
calls, warrants, options, convertible securities)
(continued)
7. Title and Amount of
      Underlying Securities (Instr. 3 and 4)
8. Price of Derivative
         Security
(Instr. 5)
9. Number of derivative
      Securities    Beneficially Owned at End of Month
(Instr. 4)
10. Ownership Form of
      Derivative Security Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect
      Beneficial Ownership
(Instr. 4)
Title
Amount or Number
      of Shares
Explanation of
Responses:
s/ Richard G. Hill
January 2, 2003
**Signature of Reporting Person        
       Date
**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.
Potential persons who are to
respond to the collection of information contained in this form are not required
to respond unless the form displays a currently valid OMB
Number.