UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* ESCALADE, INCORPORATED (Name of Issuer) Common Stock, No Par Value (Title of Class of Securities) 296056-10-4 (CUSIP Number) December 31, 2003 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on following pages) Page 1 of 5 Pages CUSIP No. 296056-10-4 13G Page 2 of 5 Pages Pages 1. NAME OF REPORTING PERSON S.S. or I.R.S. Identification No. of Above Person C. W. "Bill" Reed 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) X --- 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States of America NUMBER OF 5. SOLE VOTING POWER SHARES 461,855 BENEFICIALLY 6. SHARED VOTING POWER OWNED BY -0- EACH 7. SOLE DISPOSITIVE POWER REPORTING 461,855 PERSON 8. SHARED DISPOSITIVE POWER WITH -0- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 461,855 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* Not Applicable 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.06% 12. TYPE OF REPORTING PERSON* IN CUSIP No. 296056-10-4 13G Page 3 of 5 Pages ITEM 1 (a) NAME OF ISSUER: Escalade, Incorporated (b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 251 Wedcor Avenue Wabash, IN 46992 ITEM 2 (a) NAME OF PERSON FILING: C. W. "Bill" Reed (b) ADDRESS OF PRINCIPAL BUSINESS OFFICE: 251 Wedcor Avenue Wabash, IN 46992 (c) CITIZENSHIP: U.S.A. (d) TITLE OF CLASS OF SECURITIES: Common Stock, no par value (e) CUSIP NUMBER: 296056-10-4 ITEM 3 This statement is not filed pursuant to Rules 13d-1(b) or 13d-2(b). This statement is filed pursuant to Rule 13d-1(c)[x]. ITEM 4 OWNERSHIP (a) AMOUNT BENEFICIALLY OWNED: 461,855 shares, including 97,500 shares subject to currently outstanding stock options. CUSIP No. 296056-10-4 13G Page 4 of 5 Pages (b) PERCENT OF CLASS: 7.06% (c) (i) SOLE VOTING POWER: 461,855 (ii) SHARED VOTING POWER: -0- (iii) SOLE DISPOSITIVE POWER: 461,855 (iv) SHARED DISPOSITIVE POWER: -0- ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS Not Applicable ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON Not Applicable ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY: Not Applicable ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP Not Applicable CUSIP No. 296056-10-4 13G Page 5 of 5 Pages ITEM 9 NOTICE OF DISSOLUTION OF GROUP Not Applicable ITEM 10 CERTIFICATION By signing below, the undersigned certifies that, to the best of his knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect. SIGNATURE After reasonable inquiry and to the best of his knowledge and belief, the undersigned hereby certifies that the information set forth in this statement is true, complete and correct. Date: February 13, 2004 /s/ C. W. Bill Reed ----------------------------- C. W. "Bill" Reed