SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

1. Name and Address of Reporting Person^*

FOSINA JOHN J

(Last)

(First)

(Middle)

MERRILL LYNCH & CO., INC.

4 WORLD FINANCIAL CENTER

(Street)

NEW YORK

10080

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
MERRILL LYNCH & CO INC [ MER ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice President and Controller

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2003

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/14/2003		M		2,496	A	$36.1719	20,682	D
Common Stock	11/14/2003		S		2,496	D	$57.78	18,186	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option - Right to Acquire⁽¹⁾	$36.1719	11/14/2003		M			2,496	⁽²⁾	01/25/2009	Common Stock	2,496	$0	5,196	D
Stock Option - Right to Acquire⁽¹⁾	$36.1719							⁽³⁾	01/25/2009	Common Stock	588		588	D
Stock Option - Right to Acquire⁽¹⁾	$43.7812							⁽⁴⁾	01/27/2010	Common Stock	9,160		9,160	D
Stock Option - Right to Acquire⁽¹⁾	$77.5625							⁽⁵⁾	01/23/2011	Common Stock	9,025		9,025	D
Stock Option - Right to Acquire⁽¹⁾	$53.745							⁽⁶⁾	01/28/2012	Common Stock	18,869		18,869	D
Stock Option - Right to Acquire⁽¹⁾	$36.065							⁽⁷⁾	01/27/2013	Common Stock	9,728		9,728	D

Explanation of Responses:

1. These stock options were granted under the Merrill Lynch & Co., Inc. Long-Term Incentive Compensation Plan. Transactions under this Plan are exempt under the provisions of Rule 16b-3.

2. These performance-based stock options became exercisable at a rate of 1% of the award for each increment of $20 million of Cumulative Economic Profit of the Issuer (determined annually on each anniversary of the award). 4,044 stock options became exercisable on 1/25/00 and 3,648 stock options became exercisable on 1/25/01.

3. 588 stock options are exercisable after 1/25/04.

4. 1,832 stock options became exercisable after each of 1/27/01, 1/27/02 and 1/27/03. 1,832 stock options are exercisable after each of 1/27/04 and 1/27/05.

5. All stock options became exercisable after 7/31/01.

6. All stock options became exercisable after 7/31/02.

7. 2,432 stock options are exercisable after each of 1/27/04, 1/27/05, 1/27/06 and 1/27/07.

Remarks:

All reported positions have been rounded down to the nearest whole number.

	John J. Fosina (by Michael A. LaMaina, as agent)	11/18/2003
	** 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 4 (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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