SEC Form 4

FORM 4
[ ] Check this box if no longer
subject to Section 16. Form 4 or Form
5 obligations may continue.
See Instruction 1(b). 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, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 OMB APPROVAL

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1. Name and Address of Reporting Person^*
Natori, Josie     C. (Last)                      (First)                      (Middle) The Natori Company
40 East 34th Street
(Street) New York, NY     10016
(City)                      (State)                      (Zip) USA 2. Issuer Name and Ticker
    or Trading Symbol

ALLTEL Corporation   AT3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (voluntary)
4. Statement for
    (Month/Year)

    January 2003

5. If Amendment,
    Date of Original
    (Month/Year)
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
           X          Director                           10% Owner
                        Officer                             Other

Officer/Other
Description                               7. Individual or Joint/Group
    Filing (Check Applicable Line)

X   Individual Filing
      Joint/Group Filing

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security     (Instr. 3)	2. Transaction Date     (Month/Day/Year)	3. Transaction     Code     and     Voluntary     Code     (Instr. 8) Code  |  V	4. Securities Acquired (A) or Disposed (D) Of     (Instr. 3, 4, and 5)         Amount      |         A/D         |         Price	5. Amount of     Securities     Beneficially     Owned at     End of Month     (Instr. 3 and 4)	6. Owner-     ship     Form:     Direct(D)     or     Indirect (I)     (Instr. 4)	7. Nature of      Indirect      Beneficial      Ownership     (Instr. 4)
Common Stock	01/02/2003	A |	470(1)   |           A           |   $53.15	1,602	D

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).

(over)
SEC 1474 (3-99)

Natori, Josie C. - January 2003

Form 4 (continued)

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. Conver-     sion or     Exercise     Price of     Deri-     vative     Security	3. Transaction     Date     (Month/     Day/     Year)	4. Transaction     Code     and     Voluntary (V)     Code     (Instr.8) Code | V	5. Number of Derivative     Securities Acquired (A)     or Disposed (D) Of     (Instr. 3,4 and 5)	6. Date Exercisable(DE) and     Expiration Date(ED)     (Month/Day/Year)   (DE)     |     (ED)	7. Title and Amount of     Underlying Securities     (Instr. 3 and 4)	8. Price     of     Derivative     Security     (Instr.5)	9. Number of     Derivative     Securities     Beneficially     Owned     at End of     Month     (Instr.4)	10. Owner- ship Form of Deriv- ative Security: Direct (D) or Indirect (I)	11. Nature of       Indirect       Beneficial       Ownership       (Instr.4)
Non-Qualified Stock Option	$25.38					Common Stock - 0		10,000	D
Non-Qualified Stock Option	$32.50					Common Stock - 0		2,000	D
Non-Qualified Stock Option	$33.88					Common Stock - 0		1,538	D
Non-Qualified Stock Option	$30.00					Common Stock - 0		3,500	D
Non-Qualified Stock Option	$44.94					Common Stock - 0		4,500	D
Non-Qualified Stock Option	$70.75					Common Stock - 0		5,500	D
Non-Qualified Stock Option	$65.13					Common Stock - 6,500		6,500	D
Non-Qualified Stock Option	$52.75					Common Stock - 6,500		6,500	D
Non-Qualified Stock Option	$53.09					Common Stock - 6,500		6,500	D

Explanation of Responses :

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
        See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:   File three copies of this Form, one of which must be manually signed. If space is insufficient,
            See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB number. ________________________________         __________________
** Signature of Reporting Person                         Date


Josie C. Natori


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SEC 1474 (3-99)

Natori, Josie C. - January 2003

Form 4 (continued)

FOOTNOTE Descriptions for ALLTEL Corporation AT

Form 4 - January 2003

Josie C. Natori
The Natori Company
40 East 34th Street
New York, NY 10016
Explanation of responses:

(1)   These shares were issued under a directors stock compensation plan adopted on January 28, 1999, qualifying under Rule 16b-3(d) and are subject to a substantial risk of forfeiture until January 1, 2004.

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