SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* King Scott V. (Last) (First) (Middle) 100 NORTH EASTMAN ROAD (Street) KINGSPORT TN 37660 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 09/01/2008	3. Issuer Name and Ticker or Trading Symbol EASTMAN CHEMICAL CO [ EMN ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) VP, Controller & CAO	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	124	D
Common Stock	690	I	401(k)
Common Stock	18	I	ESOP

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	04/02/2005(1)	04/02/2014	Common Stock	700	$43.66	D
Employee Stock Option (right to buy)	11/02/2005(2)	11/01/2014	Common Stock	1,500	$46.98	D
Employee Stock Option (right to buy)	11/01/2006(3)	10/31/2015	Common Stock	3,700	$53.51	D
Employee Stock Option (right to buy)	10/31/2007(4)	10/30/2016	Common Stock	3,700	$60.92	D
Employee Stock Option (right to buy)	10/30/2008(5)	10/29/2017	Common Stock	4,550	$66.15	D
Phantom Stock Units	(6)	(6)	Common Stock	1,951	$0	D

Explanation of Responses:

1. One-third of option became exercisable on April 2, 2005, April 2, 2006, and April 2, 2007, respectively.

2. One-third of option became exercisable on November 2, 2005, November 2, 2006, and November 2, 2007, respectively.

3. One-third of option became exercisable on each of November 1, 2006 and November 1, 2007 and one-third of option becomes exercisable on November 1, 2008.

4. One-third of option became exercisable on October 31, 2007 and one-third of option becomes exercisable on each of October 31, 2008 and October 31, 2009.

5. One-third of option becomes exercisable on October 30, 2008, October 30, 2009, and October 30, 2010, respectively.

6. Phantom Stock Units credited under the Executive Deferred Compensation Plan, each having a value equal to one share of issuer common stock and payable only in cash and, subject to certain acceleration and early withdrawal provisions, after termination of employment.

	Brian L. Henry by Power of Attorney	09/09/2008
	** Signature of Reporting Person	Date
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 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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