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UNITED STATES
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(h) of the Investment Company Act of 1940

o	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Name and Address of Reporting
Person*

Issuer Name and Ticker or Trading
Symbol

I.R.S. Identification Number of Reporting
Person, if an entity (Voluntary)

Martin, William F., Jr.

(Last) (First) (Middle)

Yellow Corporation (yell)

10990 Roe Avenue

(Street)

Statement for Month/Day/Year

If Amendment, Date of Original (Month/Day/Year)

10/02

Relationship of Reporting Person(s)
to Issuer (Check All Applicable)

Individual or Joint/Group Filing
(Check Applicable Line)

Overland Park, KS 66211

(City) (State) (Zip)

Director

10% Owner

Form Filed by One Reporting Person

Officer (give title below)

Form Filed by More than One Reporting Person

Other (specify below)

Senior Vice President

Reminder:		Report on a separate line for each class of securities beneficially owned directly or indirectly.

*		If the form is filed by more than one reporting person, see instruction 4(b)(v).

Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

Title of Security
(Instr. 3)

Transaction
Date
(Month/Day/Year)

2A.

Deemed Execution
Date, if any
(Month/Day/Year)

Transaction
Code
(Instr. 8)

Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5)

Amount of Sec-
urities Beneficially
Owned Following
Reported Trans-
action(s)
(Instr. 3 and 4)

Ownership
Form:
Direct (D) or
Indirect (I)
(Instr. 4)

Nature of
Indirect
Beneficial
Ownership
(Instr. 4)

Code

Amount

(A)
or
(D)

Price

Common Stock

10/24/02

27,232

22.08

Common Stock

10/24/02

6,808

14.57

Common Stock

10/25/02

5,446

14.57

Common Stock

10/24/02

34,040

29.9349

Common Stock

10/25/02

5,446

28.9864

4,998(1)

1,278.60

By ESOP

Page 2

Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

Title of Derivative
Security
(Instr. 3)

Conversion or Exercise
Price of Derivative
Security

Transaction
Date
(Month/Day/Year)

3A.

Deemed Execution
Date, if any
(Month/Day/Year)

Transaction
Code
(Instr. 8)

Number of Derivative Securities
Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)

Code

(A)

(D)

Employee Stock Option

22.08

10/24/02

6,808

Employee Stock Option

22.08

10/24/02

6,808

Employee Stock Option

22.08

10/24/02

6,808

Employee Stock Option

22.08

10/24/02

6,808

Employee Stock Option

14.57

10/24/02

6,808

Employee Stock Option

14.57

10/25/02

5,446

Page 3

Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned — Continued
(e.g., puts, calls, warrants, options, convertible securities)

Date Exercisable and
Expiration Date
(Month/Day/Year)

Title and Amount
of Underlying Securities
(Instr. 3 and 4)

Price of Derivative
Security
(Instr. 5)

Number of Derivative Securities
Beneficially Owned Following
Reported Transaction(s)
(Instr. 4)

10.

Ownership Form of
Derivative Security:
Direct (D) or
Indirect (I)
(Instr. 4)

11.

Nature of
Indirect
Beneficial
Ownership
(Instr. 4)

Date
Exercisable

Expiration
Date

Title

Amount or
Number of
Shares

07/15/98

07/14/07

Common Stock

6,808

22.08

07/15/99

07/14/07

Common Stock

6,808

22.08

07/15/00

07/14/07

Common Stock

6,808

22.08

07/15/01

07/14/07

Common Stock

6,808

22.08

08/31/02

08/30/09

Common Stock

6,808

14.57

10/25/02

10/24/10

Common Stock

5,446

14.57

17,700

Explanation of Responses:

(1) 4,598 shares represent restricted stock grant pursuant to 1992 Stock Option Plan with restriction expiring on 3/4/05.

/s/ William F. Martin, Jr.		10/28/2002
**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 is insufficient, see Instruction 6 for procedure.

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YELLOW CORP 4