Edgar Filing: SERVICEMASTER CO

Ownership Submission

FORM 4

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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

ASCOLESE RICHARD A

2. Issuer Name and Ticker or Trading Symbol
SERVICEMASTER CO [SVM]

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

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
TGL PRESIDENT & COO

(Last)

(First)

(Middle)

3250 LACEY ROAD, SUITE 600

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2007

(Street)

DOWNERS GROVE, IL 60515-1700

4. If Amendment, Date Original Filed(Month/Day/Year)

6. 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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common stock $.01 par value	07/24/2007		D		163,157	D	$ 15.625	0 ⁽¹⁾	D
Common stock $.01 par value	07/24/2007		D		2,367	D	$ 15.625	0 ⁽¹⁾	I	by 401(k) Plan
Common stock $.01 par value	07/24/2007		D		1,546	D	$ 15.625	0 ⁽¹⁾	I	Deferred Comp

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

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

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

1998 Non-Qual.Stock Option (Right to Buy)

$ 11.4125

07/24/2007

10,000

04/03/2001

04/02/2010

Common stock $.01 par value

10,000

$ 15.625

0 ⁽²⁾

1998 Non-Qual.Stock Option (Right to Buy)

$ 18.075

07/24/2007

16,750

01/29/2000

01/28/2009

Common stock $.01 par value

16,750

$ 15.625

0 ⁽²⁾

1998 Non-Qual.Stock Option (Right to Buy)

$ 18.2583

07/24/2007

11,250

02/16/1999

02/15/2008

Common stock $.01 par value

11,250

$ 15.625

0 ⁽²⁾

2000 Emplee Stock Option (Right to Buy)

$ 9.88

07/24/2007

11,333

03/18/2004

03/17/2013

Common stock $.01 par value

11,333

$ 15.625

0 ⁽²⁾

2000 Emplee Stock Option (Right to Buy)

$ 10.3

07/24/2007

22,000

12/18/2003

12/17/2009

Common stock $.01 par value

22,000

$ 15.625

0 ⁽²⁾

2000 Emplee Stock Option (Right to Buy)

$ 10.52

07/24/2007

10,000

03/16/2002

03/15/2008

Common stock $.01 par value

10,000

$ 15.625

0 ⁽²⁾

2000 Emplee Stock Option (Right to Buy)

$ 13.83

07/24/2007

15,000

02/08/2003

02/07/2009

Common stock $.01 par value

15,000

$ 15.625

0 ⁽²⁾

2003 EIP Stock Appreciation Right

$ 10.73

07/24/2007

9,500

02/13/2005

02/12/2014

Common stock $.01 par value

9,500

$ 15.625

0 ⁽²⁾

2003 EIP Stock Appreciation Right

$ 12.45

07/24/2007

20,000

02/14/2007

02/13/2016

Common stock $.01 par value

20,000

$ 15.625

0 ⁽²⁾

2003 EIP Stock Appreciation Right

$ 13.44

07/24/2007

9,500

02/11/2006

02/10/2015

Common stock $.01 par value

9,500

$ 15.625

0 ⁽²⁾

2003 EIP Employee Stock Option (Right to Buy)

$ 12.78

07/24/2007

12,500

11/01/2005

10/31/2014

Common stock $.01 par value

12,500

$ 15.625

0 ⁽²⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
ASCOLESE RICHARD A 3250 LACEY ROAD, SUITE 600 DOWNERS GROVE, IL 60515-1700			TGL PRESIDENT & COO

Signatures

Cristen Kogl by Power of Attorney		07/26/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Pursuant to the acquisition of The ServiceMaster Company by ServiceMaster Global Holdings Inc. effective July 24, 2007, the stockholder received $15.625 in cash for each outstanding share of common stock.
(2)	Pursuant to the acquisition of The ServiceMaster Company by ServiceMaster Global Holdings Inc. effective July 24, 2007, each stock option and Stock Appreciation Right (SAR), regardless of whether it was exercisable upon completion of the merger, was cancelled by ServiceMaster and the holder of the stock option received a cash payment equal to the positive "spread' (if any) between the $15.625 per share merger price and the exercise price of the stock option or SAR, times the number of shares subject to the stock option or SAR. This amount (if any) will be subject to all applicable federal, state and local taxes required to be withheld.

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