UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
John E. Pepper
One Procter and Gamble Plaza
OH, Cincinnati 45202
2. Issuer Name and Ticker or Trading Symbol
The Procter and Gamble Company (PG)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Day/Year
2/5/2003
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
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security|2. |2A. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Trans-|Exec- |Trans | or Disposed of (D) | Securities |ect | Beneficial Ownership |
|action|ution |action| | Beneficially |(D)or | |
| | | | | | A/| | Owned Following |Indir | |
|Date | Date |Code|V| Amount | D | Price | Reported Trans(s)|ect(I)| |
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Common Stock |12/23/| |G |V|225 |D | | |D | |
| 2002 | | | | | | | | | |
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Common Stock |2/5/ 2| |M | |18147 |A |25.5870 | |D | |
|003 | | | | | | | | | |
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Common Stock |2/5/ 2| |S | |18147 |D |84.9364 |639968 |D | |
|003 | | | | | | | | | |
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Common Stock | | | | | | | |914.6496 |I |By Retirement Plan Trustees|
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Common Stock | | | | | | | |2236 |I |By Spouse |
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Common Stock | | | | | | | |2250 |I |Pepper Investors LP 1 |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of |2.Con- |3. |3A. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Derivative |version |Trans- |Deemed|Trans-| rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
Security |or Exer |action | |action| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | |Execu-| | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| |ution | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | | A/|Exer-|ation| Title and Number | |Owned Follow|ire| |
|Secu- |(Month/|(Month| | | | D |cisa-|Date | of Shares | |ing Reported|ct | |
|rity |Day/ |/Day/ |Code|V| Amount | |ble | | | |Trans- |(I)| |
| |Year) |Year) | | | | | | | | |action(s) | | |
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Stock Option |$25.5870|2/5/ 20| |M | |18147 3 |D |2/26/|2/26/|Common Stock|18147 | |0 |D | |
(right to buy| 2 |03 | | | | | |94 |03 | | | | | | |
) | | | | | | | | | | | | | | | |
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Explanation of Responses:
1. Reported securities are held by Pepper Investors LP, a partnership through
which reporting person retains beneficial ownership.
2. Due to the spin-off of a portion of Issuer's business, reporting person's
stock option exercise price was adjusted, pursuant to the anti-dilution
provisions of Issuer's stock option plan, in order to preserve the pre-spin-off
value of the option.
3. Due to the spin-off of a portion of Issuer's business, the number of shares
of the option were adjusted, pursuant to the anti-dilution provisions of
Issuer's stock option plan, in order to preserve the pre-spin-off value of the
option.
SIGNATURE OF REPORTING PERSON
John E. Pepper
William R. Mordan - Attorney-in-Fact