U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
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1. Name and Address of Reporting Person*
Carmean C. William
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(Last) (First) (Middle)
Millennium Chemicals Inc., 230 Half Mile Road
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(Street)
Red Bank, New Jersey 07701
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
February 11, 2002
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Millennium Chemicals Inc. (MCH)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Senior Vice President, General Counsel and Secretary
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6. If Amendment, Date of Original (Month/Day/Year)
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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 Beneficially Owned
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3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 4)
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Common Stock $0.01 Par Value Per Share 7,901 D Direct
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Common Stock $0.01 Par Value Per Share 3,508 I (1) 401(k)
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Common Stock $0.01 Par Value Per Share 1,200 D (2) 401 (k)(w)
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Common Stock $0.01 Par Value Per Share 1,053 D (3)
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Common Stock $0.01 Par Value Per Share 1,313 I (4)
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Common Stock $0.01 Par Value Per Share 3,841 I (5)
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* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print of Type Responses)
(Over)
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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Option 12/06/99 12/06/06 Stock 5,000 $19.00 D (6)
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Option 5/18/01 5/17/11 Stock 11,000 $16.87 D (7)
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Option 1/24/02 1/23/12 Stock 36,000 $12.24 D (8)
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Explanation of Responses:
1. Represents the value of the Reporting Person's Company Stock Fund Account
in the Company's 401(k) plan as of January 31, 2002, expressed as share
equivalents. As of such date, approximately 98.09% 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 Stock in the Reporting Person's
Individual Brokered Account within the Company's 401(k) plan as of
January 31, 2002.
3. Represents shares of restricted stock granted to the Reporting Person on
December 12, 1997 under the Issuer's Long Term Stock Incentive Plan that may
vest over a five-year period.
4. 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 January 31, 2002, 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.
5. Reflects shares allocated to the Reporting Person's account under the
Company's Salary and Bonus Deferral Plan as of January 31, 2002.
6. Represents an option granted to the Reporting Person on December 6, 1996
under the Issuer's Long Term Stock Incentive Plan to purchase 5,000 shares
of the Issuer's Common Stock at $19.00 per share.
7. Represents an option granted to the Reporting Person on May 18, 2001 under
the Issuer's Omnibus Incentive Compensation Plan to purchase 11,000 shares
of the Issuer's Common Stock at $16.87 per share.
8. 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.
(Print of Type Responses)
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