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OMB APPROVAL
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OMB Number 3235-0287
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 this box if no longer subject of 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
Wubbolding Christine F.
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(Last) (First) (Middle)
Millennium Chemicals Inc.
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(Street)
99 Wood Avenue South
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(City) (State) (Zip)
Iselin NJ 08830
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2. Issuer Name and Ticker or Trading Symbol
Millennium Chemicals Inc. (MCH)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
May/1997
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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)
Vice President - Treasurer
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<PAGE>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
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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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock $0.01 par value/share 2/28/97 P V 62 A 19 1/8 I 401(k)
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Common Stock $0.01 par value/share 3/7/97 P V 76 A 18.87 D (1)
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Common Stock $0.01 par value/share 3/21/97 P V 83 A 17.23 D (1)
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Common Stock $0.01 par value/share 3/31/97 P V 26 A 18 3/4 I 401(k)
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Common Stock $0.01 par value/share 4/7/97 P V 80 A 17.81 D (1)
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Common Stock $0.01 par value/share 5/1/97 P V 80 A 17.98 319 D (1)
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Common Stock $0.01 par value/share 134 D (2)
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Common Stock $0.01 par value/share 67,207 D (3)
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Common Stock $0.01 par value/share 2,876 I 401(k)(4)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
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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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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of 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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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
1. Represents shares held in the Reporting Person's account under the Company's
Salary and Bonus Deferral Plan.
2. In her Form 3 and her prior Form 4's, Reporting Person had inadvertently
disclosed her direct holdings as 128 shares, not 134 shares.
3. Includes shares of restricted stock granted to the Reporting Person on
October 8, 1996 under the Issuer's Long-term Stock Incentive Plan as
follows: (i) 16,801 shares which will vest in equal installments on
October 8, 1999, 2000 and 2001, and (ii) 50,406 shares which may vest in
equal installments on December 31, 1999, 2000 and 2001 subject to the
achievement of performance goals based on a cash flow return on investment
formula, 50% of which will be distributed upon vest and 50% of which will
be distributed over a five-year period commencing on the date of vesting.
4. Represents the value of the Reporting Person's Company Stock Fund Account in
the Company's 401(k) plan as of March 31, 1997, expressed as share
equivalents, and the number of shares of Company Common Stock in the
Reporting Person's Individual Brokered Account with such plan as of such
date. As of such date, approximately 87.6% of the Company Stock Fund was
invested in Company Common Stock, and the remainder was invested in cash.
Christine Wubbolding
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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 procedures.
