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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
Yocum Ronald H.
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(Last) (First) (Middle)
Millennium Petrochemicals Inc. 11500 Northlake Drive
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(Street)
Cincinnati, OH 45249
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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 or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
12/31/97
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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)
Chief Executive Officer - Millennium Petrochemicals Inc.
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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 12/3/97 S 5,133 D 23.875 D (1)
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Common Stock $0.01 par value/share 12/5/97 S 47,152 D 23.250 D (1)
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Common Stock $0.01 par value/share 12/5/97 S 10,920 D 23.125 D (1)
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Common Stock $0.01 par value/share 12/5/97 S 840 D 23.4375 D (1)
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Common Stock $0.01 par value/share 12/5/97 S 38,378 D 23.375 D (1)
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Common Stock $0.01 par value/share 12/8/97 S 1,736 D 23.4375 D (1)
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Common Stock $0.01 par value/share 12/9/97 S 19,841 D 23.50 100,026 D (1)
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Common Stock $0.01 par value/share 11/30/97 P 1,860 D 23 6,983 I (2) 401(k)
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Common Stock $0.01 par value/share 1,648 D (3)
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Common Stock $0.01 par value/share 355 D
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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. As a result of the closing of the Millennium Chemicals/Lyondell
Petrochemical Joint Venture on December 1, 1997, 224,026 shares of
restricted stock held by the Reporting Person vested. The Reporting Person
announced that he will retire as CEO of Millennium Petrochemicals Inc. on
March 1, 1998. After selling 124,000 shares of Company Common Stock in
December as reported herein, the Reporting Person holds 100,026 shares that
had been restricted shares.
2. Represents the value of the Reporting Person's Company Stock Fund in the
Company's 401(k) plan as of November 30, 1997 expressed as share
equivalents. As of such date, approximatley 95.94% of the Company Stock
Fund was invested in Company Common Stock, and the remainder was invested in
cash.
3. Represents shares held in the Reporting Person's account under the Company's
Salary and Bonus Deferral Plan.
Ronald H. Yocum January 12, 1998
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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.
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