-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 S5wnQaoHdBeb1DvVfECooTelnaNBYWzIPjYYFJ9YFcCzL45ttfeoRjXgTJbWToqz
 PdYKWcPKQ/wK8fihb8euSw==

<SEC-DOCUMENT>0000915127-03-000109.txt : 20031112
<SEC-HEADER>0000915127-03-000109.hdr.sgml : 20031111
<ACCEPTANCE-DATETIME>20031112091056
ACCESSION NUMBER:		0000915127-03-000109
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031110
FILED AS OF DATE:		20031112

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHC INC /MA/
		CENTRAL INDEX KEY:			0000915127
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-HOME HEALTH CARE SERVICES [8082]
		IRS NUMBER:				042601571
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		200 LAKE ST STE 102
		CITY:			PEABODY
		STATE:			MA
		ZIP:			01960
		BUSINESS PHONE:		9785362777

	MAIL ADDRESS:	
		STREET 1:		200 LAKE ST
		STREET 2:		STE 102
		CITY:			PEABODY
		STATE:			MA
		ZIP:			01960

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CORNELISON MICHAEL R
		CENTRAL INDEX KEY:			0001244499

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22916
		FILM NUMBER:		03990827

	BUSINESS ADDRESS:	
		STREET 1:		PHC INC
		STREET 2:		200 LAKE ST SUITE 102
		CITY:			PEABODY
		STATE:			MA
		ZIP:			01960
		BUSINESS PHONE:		7343849518

	MAIL ADDRESS:	
		STREET 1:		7708 SOUTHMOOR
		CITY:			MOROE
		STATE:			MI
		ZIP:			48161
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>mc_form4ex.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-11-10</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000915127</issuerCik>
        <issuerName>PHC INC /MA/</issuerName>
        <issuerTradingSymbol>PIHC</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001244499</rptOwnerCik>
            <rptOwnerName>CORNELISON MICHAEL R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>PHC INC</rptOwnerStreet1>
            <rptOwnerStreet2>200 LAKE ST SUITE 102</rptOwnerStreet2>
            <rptOwnerCity>PEABODY</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>01960</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>Executive Vice President</officerTitle>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Class A Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-11-10</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-11-10</value>
            <footnoteId id="F2"/>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>D</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
            <footnoteId id="F3"/>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
            <footnoteId id="F1"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>81982</value>
            <footnoteId id="F1"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Transfer of Stock per Court Settlement</value>
      </securityTitle>
      <transactionDate>
         <value>2003-11-10</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-11-10</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>D</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>35116</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
            <footnoteId id="F1"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>46866</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Total Options</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>0</value>
            <footnoteId id="F1"/>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-11-10</value>
            <footnoteId id="F2"/>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>D</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionTotalValue>
           <value>0</value>
            <footnoteId id="F1"/>
         </transactionTotalValue>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-11-10</value>
            <footnoteId id="F2"/>
      </exerciseDate>
      <expirationDate>
         <value>2003-11-10</value>
            <footnoteId id="F2"/>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Stock Options Held</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>0</value>
            <footnoteId id="F1"/>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>76000</value>
            <footnoteId id="F3"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> No conversion price</footnote>

      <footnote id="F2"> Used dummy dates as these shares are accumulative and have different dates</footnote>

      <footnote id="F3"> Not applicable</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>Michael R. Cornelison</signatureName>
      <signatureDate>2003-11-10</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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