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*
HURWITZ CHARLES E
(Last) (First) (Middle)
1330 POST OAK BOULEVARD
SUITE 2000
(Street)
HOUSTON TX 77056-3058
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MAXXAM INC [ MXM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
Chairman of the Board & CEO
3. Date of Earliest Transaction (Month/Day/Year)
11/09/2004
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)
Code V Amount (A) or (D) Price
Common Stock 11/09/2004 G V 46,277(1) D (1) 256,808 D(2)
Common Stock 11/09/2004 G V 46,276(1) D (1) 46,277 D(3)
Common Stock 46,276 I See footnote.(4)
Common Stock 2,008.8 I See footnote.(5)
Common Stock 2,008.8 I See footnote.(6)
Common Stock 2,404,314 I See footnote.(7)
Common Stock 60,000 I See footnote.(8)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. On November 9, 2004, (a) Mr. Hurwitz gave, assigned and relinquished to his spouse all of his rights to 46,277 shares of Common Stock (to be held as her separate property), and (b) Mr. Hurwitz's spouse gave, assigned and relinquished to Mr. Hurwitz all of her rights to 46,276 shares of Common Stock (to be held as his separate property). Prior to such transaction, 11,745 of such shares were held in Mr. Hurwitz's name and 80,808 of such shares were held in the name of Mr. Hurwitz's spouse. Mr. Hurwitz on the same date contributed such 46,276 shares to a grantor retained annuity trust and Mr. Hurwitz's spouse contributed such 46,277 shares to a grantor retained annuity trust.
2. See footnote (1). These shares represent the number of shares of Common Stock directly held by Mr. Hurwitz after giving effect to the transactions described in that footnote.
3. See footnote (1). These shares represent the number of shares of Common Stock contributed by Mr. Hurwitz's spouse to the grantor retained annuity trust. Mr. Hurwitz disclaims beneficial ownership of these shares.
4. See footnote (1). These shares represent the number of shares of Common Stock contributed by Mr. Hurwitz to the grantor retained annuity trust.
5. 46,500 shares of Common Stock are owned by the Hurwitz Investment Partnership L.P. ("HIP"). Mr. Hurwitz and his spouse each hold a 4.32% interest as general partners in HIP. These shares represent the shares of Common Stock indirectly held by Mr. Hurwitz through such entity.
6. See footnote (5). These shares represent the shares of Common Stock held by Mr. Hurwitz's spouse through HIP. Mr. Hurwitz disclaims beneficial ownership of such shares.
7. Shares owned by Gilda Investments, LLC ("Gilda"), a wholly owned subsidiary of Giddeon Holdings, Inc. ("Giddeon"). Giddeon is wholly owned by Mr. Hurwitz, his immediate family, and trusts for the benefit thereof.
8. Shares owned by Giddeon Portfolio LLC, a limited liability company jointly owned by Mr. Hurwitz and Gilda.
Charles E. Hurwitz 02/11/2005
** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.