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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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(h) 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 of Type Responses)
________________________________________________________________________________
1. Name and Address of Reporting Person*
Landuyt William M.
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(Last) (First) (Middle)
Millennium Chemicals Inc.
230 Half Mile Road
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(Street)
Red Bank, NJ 07701
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(City) (State) (Zip)
________________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
Millennium Chemicals Inc. (MCH)
________________________________________________________________________________
3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
________________________________________________________________________________
4. Statement for Month/Day/Year
March 31, 2003
________________________________________________________________________________
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)
Chairman, President and Chief Executive Officer
________________________________________________________________________________
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
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5.
Amount of 6.
4. Securities Owner-
Securities Acquired (A) or Beneficially ship
2A. 3. Disposed of (D) Owned Form: 7.
2. Deemed Transaction (Instr. 3, 4 and 5) Following Direct Nature of
Trans- Execution Code ------------------------------- Reported (D) or Indirect
1. action Date, if (Instr. 8) (A) Transaction(s) Indirect Beneficial
Title of Security Date any ------------ or (Instr. 3 & (I) Ownership
(Instr. 3) (mm/dd/yy) (mm/dd/yy) Code V Amount (D) Price Instr.4) (Instr.4) (Instr.4)
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Common Stock $0.01 par
value/share V 15,312 I 401(k)(1)
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Common Stock $0.01 par restricted
value/share 17,585 D stock(2)
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Common Stock $0.01 par
value/share 123,394 D (2A)
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Common Stock $0.01 par
value/share 2,890 I (3)
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Common Stock $0.01 par
value/share 3/31/03 A 300 A 11.33 I (4)
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Common Stock $0.01 par
value/share 3/31/03 A 936 A 11.43 I (4)
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Common Stock $0.01 par
value/share 3/31/03 A 833 A 11.57 177,935 I (4)
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Common Stock $0.01 par
value/share 3/31/03 A 125 A 11.68 19,845 I (5)SSIP
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====================================================================================================================================
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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9.
Number 10.
of Owner-
deriv- ship
ative Form
2. Secur- of
Conver- 5. 7. ities Deriv- 11.
sion Number of Title and Amount Bene- ative Nature
or Derivative 6. of Underlying 8. ficially Secur- of
Exer- 3A. 4. Securities Date Securities Price Owned ity: In-
cise Deemed Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Follow- Direct direct
Price 3. Execut- action or Disposed Expiration Date ---------------- Deriv- ing (D) or Bene-
1. of Trans- ion Code of(D) (Month/Day/Year) Amount ative Reported In- ficial
Title of Deriv- action Date if (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner-
Derivative ative Date any 8) 4 and 5) Date Expira- Number ity action(s) (I) ship
Security Secur- (mm/dd/ (mm/dd/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity yy) yy) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Common
Option $16.87 5/18/01 A 176,000 A 5/18/02 5/17/11 Stock 176,000 - 176,000 D (6)
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Option $12.24 1/24/02 A 254,000 A 1/24/03 1/23/12 Stock 254,000 - 254,000 D (7)
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Option $11.68 3/31/03 A 52,800 A 3/31/04 3/30/13 Stock 52,800 - 52,800 D (8)
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Explanation of Responses:
1. Represents the value of the Reporting Persons's Company Stock Fund Account
in the Company's 401(k) plan as of March 31, 2003, expressed as share
equivalents. As of such date, approximately 97.5% of such fund was invested
in Company Common Stock, and the remainder was invested in cash.
2. Represents shares of unvested restricted stock granted to the Reporting
Person on October 8, 1996 under the Issuer's Long Term Stock Incentive Plan
which may vest over the next three years.
2A.On February 27, 2003, the Reporting Person sold 10,096 shares, which were
incorrectly reported as 10,066 shares.
3. Represents shares held by two trusts created by the Reporting Person for his
two children.
4. Reflects shares allocated to the Reporting Person's account under the
Company's Salary and Bonus Deferral Plan as a result of dividends paid on
shares held in such Plan.
5. Represents the value of the Reporting Person's Company Stock Fund Account in
the Company's Supplemental Savings and Investment Plan as of March 31,
2003, expressed as share equivalents. As of such date, approximately 97.7%
of such fund was invested in Company Common Stock, and the remainder was
invested in cash. Please note that share equivalent accounting affects the
total in column 5.
6. Represents an option granted to the Reporting Person on May 18, 2001 under
the Issuer's Omnibus Incentive Compensation Plan to purchase 176,000 shares
of the Issuer's Common Stock at $16.87 per share.
7. Represents an option granted to the Reporting Person on January 24, 2002
under the Issuer's Omnibus Incentive Compensation Plan to purchase 254,000
shares of the Issuer's common Stock at $12.24 per share.
8. Represents an option granted to the Reporting Person on March 31, 2003
under the Issuer's Omnibus Incentive Compensation Plan to purchase 52,800
shares of the Issuer's Common Stock at $11.68 per share.
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**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.
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