Form 4

FORM 4

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

 OMB APPROVAL

    Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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(h) of the Investment Company Act of 1940

OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden
hours per response. . .0.5

Filed By
Romeo and Dye's
Section 16 Filer
www.section16.net

1. Name and Address of Reporting Person*

Graffunder, Herman L.

2. Issuer Name and Ticker or Trading Symbol
Dean Foods Company (DF)

6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
    Director                                       10% Owner
X Officer (give title below)          Other (specify below)

President, Morningstar Foods Inc.                 

(Last)      (First)     (Middle)

2515 McKinney Avenue, Suite 1200
 

3. I.R.S. Identification Number
of Reporting Person,
if an entity (voluntary)

 

4. Statement for
Month/Day/Year
01/24/2003

(Street)

Dallas, TX 75201

5. If Amendment,
Date of Original
(Month/Day/Year)
 		 7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
    Form filed by More than One Reporting Person

(City)     (State)     (Zip)

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

1. Title of Security
(Instr. 3)

2. Trans-
action
Date
(Month/ Day/
Year)

2A. Deemed
Execution
Date,
if any
(Month/Day/
Year)

3. Trans-
action Code
(Instr. 8)

4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 & 5)

5. Amount of
Securities
Beneficially
Owned Follow-
ing Reported Transactions(s)
(Instr. 3 & 4)

6. Owner-
ship 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

01/24/2003

 

S

 

6,000

D

$40.00

1,754

D

 
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).

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
FORM 4 (continued)

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. Conver-
sion or
Exercise
Price of Derivative Security

3. Trans-
action Date

(Month/
Day/
Year)

3A. Deemed
Execution
Date,
if any
(Month/
Day/
Year)

4. Trans-
action
Code

(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)

(Instr. 3, 4 & 5)

6. Date Exercisable
and Expiration
Date
(Month/Day/
Year)

7. Title and Amount of Underlying Securities
(Instr. 3 & 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of
Derivative
Securities
Beneficially
Owned
Following
Reported Transaction(s)
(Instr. 4)

10. Owner-
ship Form
of Deriv-
ative
Security:
Direct (D)
or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

V

(A)

(D)

Date Exer-cisable

Expira-
tion
Date

Title

Amount or Number of
Shares

Incentive Stock Option

$17.6875

 

 

 

 

 

 

01/29/00

01/29/09

Common Stock

16,800

 

16,800

D

 

Incentive Stock Option

$21.5625

 

 

 

 

 

 

01/22/02

01/22/11

Common Stock

9,316

 

9,316

D

 

Incentive Stock Option

$30.5250

 

 

 

 

 

 

01/14/03

01/14/12

Common Stock

3,276

 

3,276

D

 

Non-Qualified Stock Option

$17.1250

 

 

 

 

 

 

06/04/00

06/04/09

Common Stock

34,000

 

34,000

D

 

Non-Qualified Stock Option

$17.6875

 

 

 

 

 

 

01/29/00

01/29/09

Common Stock

21,200

 

21,200

D

 

Non-Qualified Stock Option

$18.7188

 

 

 

 

 

 

01/04/01

04/04/10

Common Stock

92,000

 

92,000

D

 

Non-Qualified Stock Option

$21.5625

 

 

 

 

 

 

01/22/02

01/22/11

Common Stock

80,684

 

80,684

D

 

Non-Qualified Stock Option

$30.5250

 

 

 

 

 

 

01/14/03

01/14/12

Common Stock

196,724

 

196,724

D

 

Explanation of Responses:

(1) Sale is pursuant to a 10b5-1 Sales Plan dated October 23, 2002, between Reporting Person and Bear Stearns & Co. Inc., acting as agent, to permit the orderly disposition of a portion of the Reporting Person's holdings of the Issuer's common stock, par value $.01 per share of Dean Foods Company. The Sales Plan authorizes Bear Stearns to sell 120,000 shares of stock commencing on November 12, 2002, at a rate of 30,000 shares per fiscal quarter.
  By: /s/ Herman L. Graffunder
              
**Signature of Reporting Person		 January 27, 2003
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.

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.