4 1 callahan30103form4.txt CALLAHAN30103FORM4 1. Name and Address of Reporting Person CALLAHAN, MICHAEL J. 82 LOCUST RD. WINNETKA, IL 60093 2. Issuer Name and Ticker or Trading Symbol MATERIAL SCIENCES CORPORATION (MSC) 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Statement for Month/Day/Year 03/01/2003 5. If Amendment, Date of Original (Month/Day/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 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. Trans- |2A.Execu- |3. Trans-|4. Securities Acquired (A)|5. Amount of |6. Owner- |7. Nature | | | action | action | action| or Disposed of (D) |Securities | ship | of In- | | | Date | Date | Code | |Beneficially | Form: | direct | | | | | | |Owned | Direct | Bene- | | | (Month/ | (Month/ | | |Following | (D) or | ficial | | | Day/ | Day/ +-----+---+-----------+---+----------+Reported | Indirect| Owner- | | | Year) | Year) |Code |V |Amount |A/D|Price |Transaction(s)| (I) | ship | +------------------------------+----------+----------+-----+---+-----------+---+----------+--------------+-----------+------------+ Common Stock 8500 D
TABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
+----------+--------+-------+-------+---------+-----------+---------------------+----------------+----------+-------+-------+------+ |1. |2. |3. |3A. |4. |5. |6. |7. |8. |9. |10. |11. | | | | | | | | | | |Number |Owner- | | | | | | | | | | | |of |ship | | | | | | | | | | | |Deriv- |Form of| | | | | | | | | |Title and Amount| |ative |Deriv- | | | | | | | | | |of Underlying | |Secur- |ative |Nature| | |Conver- |Trans- |Execu- | |Number of | |Securities | |ities |Secur- |of | | |sion or |action |tion | |Derivative |Date Exercisable +-------+--------+ |Benefi-|ity: |In- | | |Exercise|Date |Date | |Securities |and Expiration Date | |Amount | |cially |Direct |direct| | |Price of| | |Transac- |Acquired(A)|(Month/Day/Year) | |or | |Owned |(D) or |Bene- | |Title of |Deriv- |(Month/|(Month/|tion Code|Disposed(D)+----------+----------+ |Number |Price of | |In- |ficial| |Derivative|ative | Day/ | Day/ +------+--+-----+-----+Date Exer-|Expira- | |of |Derivative| |direct |Owner-| |Security |Security|Year) |Year) |Code |V |(A) |(D) |cisable |tion Date |Title |Shares |Security | |(I) |ship | +----------+--------+-------+-------+------+--+-----+-----+----------+----------+-------+--------+----------+-------+-------+------+ Phantom $0 03/01/2 A V 1465 Common 1465 $0.0000 4875 D Stock 003 Stock Stock $7.1875 12/16/2004 Common 1566 D Option Stock Stock $8.375 12/16/2005 Common 4777 D Option Stock Stock $10.18 12/16/2011 Common 3930 D Option Stock Stock $12 12/16/2004 Common 3334 D Option Stock Stock $14.05 12/16/2012 Common 2847 D Option Stock Stock $14.4375 03/01/2005 Common 3117 D Option Stock Explanation of Responses: Deferred stock units granted pursuant to the 2001 Compensation Plan for Non-Employee Directors. Stock units are deferred until receipt on March 1, 2006, as specified by the director. The phantom stock units (deferred stock units) were issued pursuant to the 2001 Compensation Plan for Non-Employee Directors. The units vest ratably over a nine month period as follows: 25% on grant date, 25% three months from grant date, 25% sixmonths from grant date, and 25% nine months from grant date.
SIGNATURE OF REPORTING PERSON /s/ MICHAEL J. CALLAHAN DATE 03/04/2003