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FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
<square>Check this box if no longer
subject to Section 16. Form 4 Filed pursuant to Section 16(a) of the
or Form 5 obligations Securities Act of 1934, Section 17(a) of the
may continue. Public Utility Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
See Instruction 1(b).
<TABLE>
<CAPTION>
1. Name and Address of Reporting Person 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person
to Issuer
HENRY, ROBERT R. ALFACELL CORPORATION (ACEL) (Check all applicable)
___X____ Director ______
10% Owner
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
(Last) (First) (Middle) 3. IRS or Social 4. Statement for ________ Officer _______
Security Number of Month/Year Other
LINNFIELDS FARM, ROUTE 202 Reporting Person (give title below)
(Voluntary) MARCH 1996 (specify below)
(Street) 5. If Amendment,
Date of Original
FAR HILLS, NJ 07931 (Month/Year)
(City) (State) (Zip)
TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action (A) or Disposed of Securities ship of In-
Date Code (D) Beneficially Form: direct
(Month/ (Instr. (Instr. 3, 4 and 5) Owned at (D) or Bene-
Day/ 8) End of Indirect ficial
Year) Month (I) Owner-
(Instr. 3 (Instr. ship
and 4) 4) (Instr.
4)
Code V Amount (A) or Price
(D)
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
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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)
<TABLE>
<CAPTION>
1. Title of Derivative 2.Conver3.Trans-4.Transac-5.Number of6.Date 7.Title and Amount of 8.Price9.Number10. 11. Na-
Security sion action tion Deriv- ExercisableUnderlying Securities of of Owner- ture
(Instr. 3) or Date Code ative and (Instr. 3 and 4) Deriv-Deriv- ship of
Exercise(Month/Day/(Instr.SecuritiesExpiration ative ative Form In-
Price Year)8) Ac- Date Secur-Secur- of De-
of quired (A) (Month/Day/ ity ities direct
Deriv- or Disposed Year) (Instr.Bene- rivative Bene-
ative of (D) 5) ficially Secur-
Security (Instr. 3, Owned ity: ficial
4, and 5) at End (D) or Own-
of Indi-
Month rect ership
(Instr. (I) (Instr.
4) 4)
(Instr.
4)
<S> <C> <C> <C><C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CodeV (A) (D) Date Expira- Title Amount
Exer- tion or
cisableDate Number
of
Shares
Stock Option+ (Right to $4.66 12/31/95 15,000 ++ 12/31/01 Common Stock 15,000 D ----
buy) A V 15,000 $4.66
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Explanation of Responses:
+ Granted under the Company's 1993 Stock Option Plan, a Rule 16b-3 Plan.
++ The option shall become exercisable on December 30, 1996; provided that
the reporting person serves continuously on the Company's board of
directors until such time.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations .
/S/ ROBERT R. HENRY 03/20/96
SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). **Signature of Reporting Person
Date
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, SEE Instruction 6 for procedure.
SEC 1474 (8-92)
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