4 1 edgar.htm FORM 4 -4/21/2003 Section16Direct Section 16, Form 4
Form 4

FORM 4

[ ]Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Files 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

1. Name and Address of Reporting Person

Charles Wall
c/o Hawaiian Electric Industries, Inc.
P.O. Box 730
Honolulu, HI 96808 US

2. Issuer Name and Ticker or Trading Symbol

Hawaiian Electric Industries, Inc. (HE)

6. Relationship of Reporting Person(s) to Issuer

Officer

________________________
Vice President & Corp. Information Ofcr.

 3. IRS or Social Security Number of Reporting Person (voluntary)

4. Statement for Month/Day/Year

4/21/2003

7. Individual or Joint/Group Filing

 Form filed by One Reporting Person

5. If Amendment, Date of Original (Month/Day/Yr)

Original Date

N/A
 

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

1. Title of Security2. Transaction Date
(Month/Day/Year)
2A. Deemed
Execution Date
if any
(Month/Day/Year)		 3. Transaction
Code		4. Securities Acquired (A)
or Disposed of (D)		5. Amount of Securities
Beneficially Owned
Following Reported
Transaction(s)		6. Ownership Form:
Direct (D) or
Indirect (I)		7. Nature of Indirect
Beneficial
Ownership
Code
V
Amount
(A) or (D)
Price
HEI Common Stock
-
-
-
-
-
-
-
1,086.7631 (1)
D
-
HEI Common Stock
-
-
-
-
-
-
-
2,460.181 (2)
I
by 401(k)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Table II-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Derivative Security2. Conversion
or Exercise
Price of
Derivative
Security 		3. Transaction
Date
(Month/Day/Year)
3A. Deemed
Execution Date
if any
(Month/Day/Year)		4. Transaction Code5. Number of Derivative
Securities Acquired
(A) or Disposed of (D) 		6. Date Exercisable
and Ex-piration Date
(Month/Day/Year)		7. Title and Amount of
Underlying Securities		8. Price of
Derivative
Security		9. Number of
Derivative
Securities
Beneficially
Owned
Following
Reported
Transaction(s)		10. Ownership
Form of
Derivative
Security:
Direct(D)or
Indirect (I) 		11. Nature
of Indirect
Beneficial
Ownership
Code
V
(A)
(D)
Date
Exercisable		Expiration
Date		TitleAmount or
Number of
Shares
Options & DERS (right to buy)
$40.98
4/21/03
-
A
-
1,000
-
(3)
4/22/13
Common
1,000
-
-
D
-
Options & DERS (right to buy)
$40.98
4/21/03
-
A
-
1,000
-
(3)
4/22/13
Common
1,000
-
-
D
-
Options & DERS (right to buy)
$40.98
4/21/03
-
A
-
1,000
-
(3)
4/22/13
Common
1,000
-
-
D
-
Options & DERS (right to buy)
$40.98
4/21/03
-
A
-
1,000
-
(3)
4/22/13
Common
1,000
-
19,158.2602 (4)
D
-
Explanation of Responses
(1) Aggregate shares; earned dividends are automatically reinvested in the Hawaiian Electric Industries Dividend Reinvestment and Stock Purchase Plan (DRIP). (2) These shares are held pursuant to the Hawaiian Electric Industries Retirement Savings Plan 401(k) (HEIRS). Effective 4/1/96, the participant's investment in HEI Common Stock was converted to units in the HEI Common Stock Fund portion of HEIRS. A small portion of the Fund is held in cash and the overall value of the Fund is based on the combined value of the HEI Common Stock and the cash portfolio. For SEC reporting purposes only the actual stock portion of the Fund is being reported. (3) Option vests in four equal installments beginning 4/22/04. (4) Aggregate option shares and dividend equivalent rights (DER); option grants previously reported.

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

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: /s/ Charles F. Wall
Date: 4/21/2003