U.S. 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(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).
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1. Name and Address of Reporting Person*
Vercollone David L.
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(Last) (First) (Middle)
Millennium Chemicals Inc.
200 International Circle, Suite 5000
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(Street)
Hunt Valley MD 21030
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Millennium Chemicals Inc. (MCH)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
July 2002
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Senior Vice President - Commercial, Operational Execellence Businesses
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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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6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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Common Stock $0.01 par value/share V 13,379 I 401(k)(1)
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Common Stock $0.01 par value/share 1,348 D restricted
stock (2)
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Common Stock $0.01 par value/share 20,004 D
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Common Stock $0.01 par value/share V 2,992 I SSIP (3)
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* 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.
(Print or Type Response) (Over)
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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10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Common
Option $16.87 5/18/01 A 25,000 A 5/18/02 5/18/11 Stock 25,000 - 25,000 D (4)
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Option $12.24 1/24/02 A 36,000 A 1/24/03 1/23/12 Stock 36,000 - 36,000 D (5)
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Explanation of Responses:
1. Represents the value of the Reporting Person's Stock Fund Account in
the Company's 401(k) plan as of July 31, 2002, expressed as share
equivalents. As of such date 97.53% of such fund was invested in Company
Common Stock.
2. Represents shares of restricted stock granted to the Reporting Person on
October 8, 1996 and October 23, 1997 under the Issuer's Long Term Stock
Incentive Plan that may vest over the next three years.
3. Represents amounts allocated to, and the total holdings in, the Reporting
Person's Company Stock Fund Account in the Company's Supplemental Savings
and Investment Plan as of July 31, 2002, expressed as share equivalents.
4. Represents an option granted to the Reporting Person on May 18, 2001 under
the Issuer's Omnibus Incentive Compensation Plan to purchase 25,000 shares
of the Issuer's Common Stock at $16.87 per share.
5. Represents an option granted to the Reporting Person on January 24, 2002
under the Issuer's Omnibus Incentive Compensation Plan to purchase 36,000
shares of the Issuer's common Stock at $12.24 per share.
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**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 provided is insufficient, see Instruction 6 for procedure.
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