Form 4
FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

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

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1. Name and Address of Reporting Person*
2. Issuer Name and Ticker or Trading Symbol

Ionics, Incorporated (ION)

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

Executive Vice President and Treasurer
(Last)             (First)            (Middle)

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

023-26-1167
4. Statement for Month/Day/Year

01-16-03

(Street)
           23 Lawrence Road
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)
      Weston         MA         02493
Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security
(Instr. 3)

2. Trans-
action
Date
(mm/dd/yy)

2A.
Deemed
Execution
Date, if
any
(mm/dd/yy)
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
(Instr. 3 and 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  01-16-03    G  V  100  D    69,660  D  
                 4,320*  I*  by 401(k) Plan
                     
                     

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 Instructions 4(b)(v).


*Shares acquired as a result of reporting person's participation in Ionics Section 401(k) Stock Savings Plan (shares are held in name of trustee). 401(k) Plan data reported as of 12/31/02.

 
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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)
 
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 Underlying
Securities
(Instr. 3 and 4)
8. Price of
Derivative
Security
(Instr. 5)

9.Number of
Deriv-
ative
Secur-
ities
Bene-
ficially
Owned
Follow-
ing
Reported
Trans-
action(s)

(Instr. 4)

10. Owner-
ship
Form of
Deriv-
ative
Security:
Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of
Indirect
Benefi-
cial
Owner-
ship
(Instr. 4)
Code V (A) (D) Date
Exercisable
Expiration
Date
Title Amount or
Number
of Shares
                               
                               
                               
                               
Explanation of Responses:
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ Theodore G. Papastavros
**Signature of Reporting Person
 01/21/03
Date
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient,
see Instruction 6 for procedure.
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