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+--------+
| FORM 4 |                     UNITED STATES SECURITIES AND EXCHANGE COMMISSION
+--------+                                    Washington, D.C. 20549
[_] Check this box if
    no longer subject           STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
    to Section 16.
    Form 4 or Form 5       Filed pursuant to Section 16(a) of the Securities
    obligations may           Exchange Act of 1934, Section 17(a) of the
    continue. See            Public Utility Holding Company Act of 1935 or
    Instruction 1(b).      Section 30(f) of the Investment Company Act of 1940

(Print or Type Responses)
- --------------------------------------------------------------------------------
1.  Name and Address of Reporting Person*

    Mac Mahon,                      Thomas                           P.
- --------------------------------------------------------------------------------
       (Last)                       (First)                        (Middle)

                   c/o Laboratory Corporation of America
                          430 South Spring Street
- --------------------------------------------------------------------------------
                                  (Street)

     Burlington,                North Carolina                        27215
- --------------------------------------------------------------------------------
        (City)                      (State)                           (Zip)

2.  Issuer Name and Ticker or Trading Symbol

    Laboratory Corporation of America Holdings ("LH")

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

4.  Statement for Month/Year

    March 2002

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

6.  Relationship of Reporting Person(s) to Issuer (Check all applicable)

     X  Director                           ___ 10% Owner
    ---

     X  Officer (give title below)         ___ Other (specify below)
    ---

           Chairman of the Board, President and Chief Executive Officer
        ----------------------------------------------------------------

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 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of action action or Disposed of (D) Securities Form: of Indirect Security Date Code (Instr. 3, 4 and 5) Beneficially Direct (D) Beneficial (Instr. 3) (Month/ (Instr. 8) Owned at or Indirect Ownership Day/ ----------------------------------------------- End of (I) Year) Month (Instr. 4) (Instr. 4) Code V Amount (A) or (D) Price (Instr. 3 and 4) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock (1) 3/01/02 M 37,733 A $20.625 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock (1) 3/01/02 S 2,733 D $ 81.23 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock (1) 3/01/02 S 5,000 D $ 81.30 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock (1) 3/01/02 S 5,000 D $ 81.35 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock (1) 3/01/02 S 11,200 D $ 81.50 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock (1) 3/01/02 S 5,400 D $ 81.40 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock (1) 3/01/02 S 3,400 D $ 81.41 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock (1) 3/01/02 S 5,000 D $ 81.45 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ (1) Transactions indicated were pursuant to a plan in compliance with Rule 10b5-1 under the Securities Exchange Act of 1934. - ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Table I-- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ 1.Title of Security 2. Transaction Data 3. Transaction 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of (Instr. 3) Code or Disposed of (D) Securities Form: Direct Indirect (Instr. 8) (Instr. 3, 4 and 5) Beneficially (D) or Beneficial Owned at End Indirect (I) Ownership (Month/Day/Year) of Month (Instr. 4) ------------------------------------------ (Instr. 3 and 4) Code V Amount (A) or (D) Price (Instr. 4) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/15/02 S 28,300 D $ 90.40 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/15/02 S 10,000 D $ 91.00 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/15/02 S 1,300 D $ 90.30 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/15/02 S 300 D $ 90.27 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/15/02 S 100 D $ 90.26 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/15/02 S 6,800 D $ 90.05 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/15/02 S 1,600 D $ 90.00 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/15/02 S 1,600 D $ 89.88 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/18/02 S 5,000 D $ 90.00 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/18/02 S 5,000 D $ 90.42 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/18/02 S 5,000 D $ 90.05 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/18/02 S 10,000 D $ 90.70 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock(1) 3/18/02 S 5,000 D $ 91.00 342,306 D - ------------------------------------------------------------------------------------------------------------------------------------ (1) Transactions indicated were pursuant to a plan in compliance with Rule 10b5-1 under the Securities Exchange Act of 1934. - ------------------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------------- Table II-- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) - -------------------------------------------------------------------------------------------------------------------------------- 1. Title of 2. Conversion 3. Transaction 4. Transaction 5. Number of 6. Date 7. Title and Derivative or Exercise Date Code Derivative Exercisable Amount of Security Price of (Month/Day/ (Instr. 8) Securities and Expiration Underlying (Inst. 3) Derivative Year) Acquired (A) Date Securities Security or Disposed (Month/Day/Year (Instr. 3 of (D) and 4) Instr. 3, 4 and 5) ----------------------------------------------------------------------------------- Amount or Date Expiration Number of Code V (A) (D) Exercisable Date Title Shares - -------------------------------------------------------------------------------------------------------------------------------- Employee Stock Common Option (1)(2) $20.625 3/01/02 M 37,733 (3) 02/10/10 Stock 37,773 - -------------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------- - --------------------------------------------------------------------- 8. Price of 9. Number of 10. Ownership 11. Nature of Derivative Derivative Form of Indirect Security Securities Derivative Beneficial (Instr. 5) Beneficially Securities Ownership Owned at End Beneficially (Instr. 4) of Month Owned at (Instr. 4) End of Month (Instr. 4) - --------------------------------------------------------------------- 37,733 D - ---------------------------------------------------------------------
Explanation of Responses: (1) Common stock purchase option granted under the Amended and Restated 1999 Stock Incentive Plan. (2) Transaction indicated was pursuant to a plan in compliance with Rule 10b5-1 under the Securities Exchange Act of 1934. (3) Total option to purchase 113,200 shares vests in three approximately equal installments on February 9, 2001, February 9, 2002 and February 9, 2003. /s/ Bradford T. Smith ------------------------------------- **Signature of Reporting Person April 8, 2002 Bradford T. Smith, Attorney-in-Fact for ------------- Date Thomas P. Mac Mahon 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