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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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*
Vercollone David L.
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(Last) (First) (Middle)
Millennium Chemicals Inc., 200 International Circle, Suite 5000
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(Street)
Hunt Valley Maryland 21030
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
March 23, 2001
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3. IRS or Social Security Number of Reporting Person (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 - Commercial, Operational Excellence Businesses
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6. If Amendment, Date of Original (Month/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.5)
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Common Stock $0.01 Par Value Per Share 11,201 I (1) 401(k)
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Common Stock $0.01 Par Value Per Share 13,724 D (2) restricted stock
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Common Stock $0.01 Par Value Per Share 16,590 D
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Common Stock $0.01 Par Value Per Share 1,762 I (3)
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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.
Page 1 of ___
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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Explanation of Responses:
1. Represents the value of the Reporting Person's Stock Fund Account in
the Company's 401(k) plan as of March 31, 2001, expressed as share
equivalents. As of such date 96.6% of such fund was invested in Company
Common Stock.
2. Represents shares of restricted stock granted to the Reporting Person on
October 8, 1996 and October 23, 1997 under the Issuer's Long Term Stock
Incentive Plan as follows: (i) 2,987 shares which may vest on October 8,
2001, (ii) 1,772 shares which may vest over a five-year period, and (iii)
8,962 shares which may be earned for the five-year performance period ending
December 31, 2001 subject to the achievement of performance goals, 50% of
which may be distributed when earned and 50% of which may be distributed
over a five-year period commencing on the date earned.
3. 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 March 31, 2001, 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.
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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.
Alternatively, ___ this form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.
Page 2 of __
(122795DTI)