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*
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)
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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
December 2001
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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)
[X] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Chairman, President and Chief Executive Officer
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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 7,195 I 401(k)(1)
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Common Stock $0.01 par value/share 4,223 I 401(k)
window(2)
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Common Stock $0.01 par value/share 12/31/01 J 2,386 D 138,284 D restricted
stock(3)(3A)
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Common Stock $0.01 par value/share 146,958 D (3A)
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Common Stock $0.01 par value/share 2,890 I (4)
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Common Stock $0.01 par value/share 12/19/01 A V 717 A 12.6876 I (5)
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Common Stock $0.01 par value/share 12/19/01 A V 330 A 12.5629 I (5)
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Common Stock $0.01 par value/share 12/19/01 A V 165 A 12.5999 I (5)
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Common Stock $0.01 par value/share 12/19/01 A V 257 A 12.5 I (5)
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Common Stock $0.01 par value/share 12/19/01 A V 283 A 12.6 165,488 I (5)
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Common Stock $0.01 par value/share V 15,733 I (6)
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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 176,000 A 5/18/02 5/18/11 Stock 176,000 - 176,000 D (7)
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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 December 31, 2001, expressed as share
equivalents. As of such date, approximately 97.95% of the Company Stock Fund
was invested in Company Common Stock, and the remainder was invested in cash.
2. Represents the number of shares of Company Common Stock in the Reporting
Person's Individual Brokered Account within the Company's 401(k) plan as of
December 31, 2001.
3. Represents shares of unvested restricted stock granted to the Reporting
Person on October 8, 1996 under the Issuer's Long Term Stock Incentive Plan
as follows: (i) 25,198 shares which may vest over a five-year period, and
(ii) 113,085 shares which may be earned for the five-year performance period
ending December 31, 2001, subject to the achievement of performance goals,
50% of which may be distributed after the Company's Board certifies
performance and 50% of which may be distributed over a five-year period
commencing on the date earned.
3A.On December 31, 2001, 8,684 shares of restricted stock vested under the
Issuer's Long Term Stock Incentive Plan; 2,386 of these shares were
transferred to the Reporting Person's former spouse pursuant to a divorce
settlement.
4. Represents shares held by two trusts created by the Reporting Person for his
two children.
5. 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.
6. 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 December 31, 2001, expressed as share equivalents.
Because the trustee and record keeper for this plan utilize unit accounting
for the Company Stock Fund rather than share accounting, these amounts
represent share equivalents allocated to the Reporting Person's account
rather than shares of Common Stock.
7. Represents an option granted to the Reporting Person on May 18, 2001 under
the Issuer's Long Term Stock Incentive Plan to purchase 176,000 shares of
the Issuer's Common Stock at $16.87 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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