4 1 doc1.txt ------------------------------ OMB APPROVAL ------------------------------ OMB Number 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response ....... 0.5 ------------------------------ U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 4 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 [_] Check this box if no longer subject of Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). (Print or Type responses) ================================================================================ 1. Name and Address of Reporting Person* PERSON BILL S. -------------------------------------------------------------------------------- (Last) (First) (Middle) 2800 POST OAK BLVD.,SUITE 5450 -------------------------------------------------------------------------------- (Street) HOUSTON, TX 77056-6127 -------------------------------------------------------------------------------- (City) (State) (Zip) ================================================================================ 2. Issuer Name and Ticker or Trading Symbol Rowan Companies, Inc. (RDC) ============================================================================== 3. IRS or Social Security Number of Reporting Person (Voluntary) ================================================================================ 4. Statement for Month/Day/Year 12/17/2002 ================================================================================ 5. If Amendment, Date of Original (Month/Day/Year) ================================================================================ 6. Relationship of Reporting Persons to Issuer (Check all applicable) [_] Director [_] 10% Owner [X] Officer (give title below) [_] Other (specify below) VICE PRESIDENT ================================================================================ 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 ================================================================================
3. 4. 5. 6. 7. 2. 2A. Trans- Securities Acquired (A) Amount of Owner- Nature of Trans- Deemed action or Disposed of (D) Securities ship Indirect action Execution Code (Instr. 3, 4 and 5) Beneficially Form: Beneficial Date Date, if (Instr. 8) Owned Direct Owner- any Following (D) or ship 1. (Month/ (Month/ (A) Reported Indirect Title of Security Day/ Day/ or Transaction(s) (I) (Instr. 3) Year) Year) Code V Amount (D) Price (Instr. 3 and 4) (Instr. 4) (Instr. 4) ------------------------------------------------------------------------------------------------------------------------------- COMMON STOCK 12/13/02 - S 2,100 D $23.47 ------------------------------------------------------------------------------------------------------------------------------- COMMON STOCK 12/13/02 S 400 D $23.48 51,462 D ------------------------------------------------------------------------------------------------------------------------------- 1,736 (1) I By 401(k) Plan ------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------
*If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v). Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. PERSONS WHO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER. (Over) SEC 1474 (9-02) FORM 4 (continued) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES) ================================================================================
9. 10. Number Owner- of ship 2. Deriv- Form of Conver- 5. 7. ative Deriv- 11. sion Number of Title and Amount Secur- ative Nature or 3A. Derivative 6. of Underlying 8. ities Secur- of Exer- Deemed 4. Securities Date Securities Price Bene- ity: In- cise 3. Execution Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- Date, if action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action any Code of(D) (Month/Day/Year) Amount ative Following In- ficial Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- Reported direct Owner- Derivative ative (Month/ (Month/ 8) 4 and 5) Date Expira- Number ity Trans- (I) ship Security Secur- Day/ Day/ ------ ------------ Exer- tion of (Instr. actions (Instr. (Instr. (Instr. 3) ity Year) Year) Code V (A) (D) cisable Date Title Shares 5) (Instr. 4) 4) 4) ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses: (1)At November 30, 2002, the Reporting Person's Rowan Common Stock balance under the Company's 401(k) plan (a unitized plan) was as shown, such number of shares, which fluctuates, being calculated as equivalent values based upon the value of the total units divided by the corresponding closing price of the underlying Rowan Common Stock on that date. By: /s/BILL S. PERSON 12/17/02 ------------------------------------ ------------------------- **Signature of Reporting Person Date **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. Page 2