UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Pfeiffer, Jane C.
1050 Beach Road
Vero Beach, FL 32963
2. Issuer Name and Ticker or Trading Symbol
Ashland Inc.
ASH
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
December 31, 2001
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
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 Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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Common Stock |12-31-|J (1| |303 |A |$46.08 |2,202 |D | |
|01 |) | | | | | | | |
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Common Stock | | | | | | |2,000 (2) |D | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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Option (3) |37.50 | | | | | |7-28-|1-28-|Common Stock|1,000 | |1,000 |D | |
| | | | | | |94 |04 | | | | | | |
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Option (3) |33.00 | | | | | |7-27-|1-27-|Common Stock|1,000 | |1,000 |D | |
| | | | | | |95 |05 | | | | | | |
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Option (3) |43.125 | | | | | |7-30-|1-30-|Common Stock|1,000 | |1,000 |D | |
| | | | | | |97 |07 | | | | | | |
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Option (3) |52.75 | | | | | |7-29-|1-29-|Common Stock|1,000 | |1,000 |D | |
| | | | | | |98 |08 | | | | | | |
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Common Stock Units (4)|1-for-1 | |J | |37 |A | | |Common Stock|37 |$43.540|14,881 |D | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
1. Payment of retainer, meeting and committee fees in Ashland Common
Stock
2. Represents shares of restricted common stock acquired pursuant to Ashland's
stock incentive plans as approved by shareholders and exempt pursuant to Rule
16b-3.
3. Stock options (represents a right to buy Ashland Common Stock) granted
pursuant to Ashland's Deferred Compensation and Stock Incentive Plan for
Non-Employee Directors.
4. Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan
for Non-Employee Directors, payable in cash or stock upon termination of
service as of December 31, 2001 and
includes transactions on or after September 30, 2001 exempt under Rule 16b-3.
(One (1) Common Stock Unit in Ashland's Deferred Compensation Plan for
Non-Employee Directors is the
equivalent of one (1) share of Ashland Common Stock)
SIGNATURE OF REPORTING PERSON
Amelia A. McCarty - Attorney-in-fact
DATE
January 8, 2002
