UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Gold, Christina A.
Excel Communications, Inc.
8750 N. Central Expressway
Suite 1500
Dallas, TX 75231
2. Issuer Name and Ticker or Trading Symbol
ITT Industries, Inc.
ITT
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
5/14/02
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
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 I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
___________________________________________________________________________________________________________________________________|
Common Stock | | | | | | |500 |D | |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock (RS) (1) |5/7/02|A |V|721 |A |$69.32 |6,610 |D | |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
___________________________________________________________________________________________________________________________________|
Stock Option (Right to|$69.11 |5/7/0|A |V|1,780 |A |(2) |5/9/1|Common Stock|1,780 | |1,780 |D | |
Buy) (2) | |2 | | | | | |2 | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
Explanation of Responses:
(1) Shares granted in lieu of annual retainer pursuant to the ITT Industries,
Inc. 1996 Restricted Stock Plan for
Non-Employee
Directors.
(2) Options awarded pursuant to the 2002 ITT Industries Stock Option Plan for
Non-Employee Directors
exercisable the earlier of 1/3 each on May 7, 2003, May 7, 2004, and May 7,
2005, or after
the NYSE closing price remains at least $86.39 for ten consecutive
trading days.
SIGNATURE OF REPORTING PERSON
CHRISTINA A. GOLD
DATE
5/14/02