4 1 edgar.txt FORM 4 - MARCH 6, 2002 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 GP STRATEGIES, CORPORATION 9 West 57th Street Suite 4170 New York, NY 10019 2. Issuer Name and Ticker or Trading Symbol Millennium Cell Inc. MCEL 3. IRS or Social Security Number of Reporting Person (Voluntary) 13-1926739 4. Statement for Month/Year March 6, 2002 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) ( ) Director (X) 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
___________________________________________________________________________________________________________________________________ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 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)| | ___________________________________________________________________________________________________________________________________| Common Stock |3/06/0|J* | |1,000 |D |$0.91 | | | | |2 | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| |3/11/0|J* | |10,955 |D |$0.91 | | | | |2 | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| |3/18/0|J* | |3,050 |D |$0.91 | | | | |2 | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| |3/25/0|S | |20,000 |D |$4.20 | | | | |2 | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| |3/26/0|S | |5,000 |D |$4.25 |3,579,310 |D | | |2 | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 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)| | ___________________________________________________________________________________________________________________________________| Employee Stock Option |$0.91 |3/06/|x | |1,000 |D |2/11/|9/30/|Common Stock|1,000 | | | | | (Obligation to Sell) | |02 | | | | |01 |02 | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| |$0.91 |3/11/|x | |10,955 |D |2/11/|9/30/|Common Stock|1,000 | | | | | | |02 | | | | |01 |02 | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| |$0.91 |3/18/|x | |3,050 |D |2/11/|9/30/|Common Stock|3,050 | |423,942 |D | | | |02 | | | | |01 |02 | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|
Explanation of Responses: Exercise of Stock Option by employees pursuant to the GP Strategies Corporation Millennium Cell, LLC Stock Option Plan. SIGNATURE OF REPORTING PERSON Lydia M. DeSantis, Corporate Secretary DATE April 10, 2002