MCHALE KATHERINE M 4

4 · MILLENNIUM CELL INC · Filed Aug 21, 2003

Form 4

Period: 2003-08-20

VP, Marketing & Communications

Transactions

Disposition to Issuer
Employee Stock Option (right to buy)
2003-08-20−35,000→ 0 total
Exercise: $4.35Exp: 2012-01-01→ Common Stock (35,000 underlying)
Award
Common Stock
2003-08-20+135,000→ 136,800 total
Disposition to Issuer
Employee Stock Option (right to buy)
2003-08-20−12,500→ 0 total
Exercise: $12.50Exp: 2011-01-16→ Common Stock (12,500 underlying)
Disposition to Issuer
Employee Stock Option (right to buy)
2003-08-20−50,000→ 0 total
Exercise: $9.58Exp: 2011-06-19→ Common Stock (50,000 underlying)

Footnotes (3)

[F1]On 8/20/03, the issuer canceled, pursuant to the issuer's option exchange program, options granted to the reporting person on 1/16/01, 4/16/01, 6/19/01, 7/16/01, 10/16/01 and 1/1/02. In exchange for the options, the reporting person received 135,000 shares of restricted stock.
[F2]The reporting person also indirectly beneficially owns 50 shares of MCEL common stock held by her son. The reporting person disclaims beneficial ownership of all securities held by her son, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or any other purpose.
[F3]The canceled options provided for vesting in three equal annual installments beginning on the one year anniversary of their repsective grant dates.

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