Liszt Lewis N – ‘4’ for 5/31/97 re: Morton International Inc.

As of:  Tuesday, 6/10/97   ·   For:  5/31/97   ·   Accession #:  1037844-97-5   ·   File #:  1-10270

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Statement of Changes in Beneficial Ownership of Securities by an Insider   —   Form 4   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 4           Form 4 - 05/31/97                                      2±    12K 


UNITED STATES SECURITIES AND EXCHANGE COMMISSION                                
WASHINGTON, D.C. 20549                                                          
FORM 4                                                                          
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP                                    
(X) 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                                         
Liszt, Lewis N.                                                           

100 North Riverside Plaza                                                 
Chicago, IL  60606                                                        
USA                                                                       
2. Issuer Name and Ticker or Trading Symbol                                     
Morton International, Inc.  (MII)                                         

3. IRS or Social Security Number of Reporting Person (Voluntary)                
502-40-6386                                                               
4. Statement for Month/Year                                                     
05/31/97                                                                  
5. If Amendment, Date of Original (Month/Year)                                  

6. Relationship of Reporting Person(s) to Issuer (Check all applicable)         
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other       
(specify below)                                                           
Controller                                                                
7. Individual or Joint/Group Filing (Check Applicable Line)                     
(X) Form filed by One Reporting Person                                    
( ) Form filed by More than One Reporting Person                          

                                                        [Enlarge/Download Table]

___________________________________________________________________________________________________________________________________ 
 Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned                                                 |
___________________________________________________________________________________________________________________________________|
1. Title of Security       |2.    |3.    |4.Securities Acquired (A)         |5.Amount of        |6.Dir |7.Nature of Indirect       |
                           | Transaction |  or Disposed of (D)              |  Securities       |ect   |  Beneficial Ownership     |
                           |      |      |                                  |  Beneficially     |(D)or |                           |
                           |      |    | |                  | A/|           |  Owned at         |Indir |                           |
                           | Date |Code|V|    Amount        | D |    Price  |  End of Month     |ect(I)|                           |
___________________________________________________________________________________________________________________________________|
                                                                                                                                    
                           |5/1/97|J(1)| |14,365            |D  |(1)        |-0-                |      |                           |
        Common Stock       |      |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|

___________________________________________________________________________________________________________________________________ 
 Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned                                                   |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con-  |3.   |4.    |5.Number of De |6.Date Exer|7.Title and Amount  |8.Price|9.Number    |10.|11.Nature of|
  Security            |version |Transaction | rivative Secu |cisable and|  of Underlying     |of Deri|of Deriva   |Dir|Indirect    |
                      |or Exer |     |      | rities Acqui  |Expiration |  Securities        |vative |tive        |ect|Beneficial  |
                      |cise    |     |      | red(A) or Dis |Date(Month/|                    |Secu   |Securities  |(D)|Ownership   |
                      |Price of|     |      | posed of(D)   |Day/Year)  |                    |rity   |Benefi      |or |            |
                      |Deriva- |     |      |               |Date |Expir|                    |       |ficially    |Ind|            |
                      |tive    |     |      |           | A/|Exer-|ation|   Title and Number |       |Owned at    |ire|            |
                      |Secu-   |     |    | |           | D |cisa-|Date |   of Shares        |       |End of      |ct |            |
                      |rity    |Date |Code|V|  Amount   |   |ble  |     |                    |       |Month       |(I)|            |
___________________________________________________________________________________________________________________________________|
                                                                                                                                    
   Stock Option (right|$14.40  |5/1/9|J   | |2,055      |D  |7/1/9|6/28/|Common Stock|2,055  |       |-0-         |   |            |
 to buy) (2)          |        |7    |    | |           |   |1    |00   |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
                "     |$18.08  |5/1/9|J   | |7,850      |D  |6/29/|6/27/|"           |7,850  |       |-0-         |   |            |
                  "   |        |7    |    | |           |   |92   |01   |  "         |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
                "     |$17.71  |5/1/9|J   | |7,920      |D  |6/25/|6/24/|"           |7,920  |       |-0-         |   |            |
                  "   |        |7    |    | |           |   |93   |02   |  "         |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
                "     |$28.29  |5/1/9|J   | |6,210      |D  |8/29/|8/26/|"           |6,210  |       |-0-         |   |            |
                  "   |        |7    |    | |           |   |94   |03   |  "         |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
                "     |$29.63  |5/1/9|J   | |6,600      |D  |8/28/|8/25/|"           |6,600  |       |-0-         |   |            |
                  "   |        |7    |    | |           |   |95   |04   |  "         |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
                "     |$32.00  |5/1/9|J   | |6,000      |D  |8/26/|8/24/|"           |6,000  |       |-0-         |   |            |
                  "   |        |7    |    | |           |   |96   |05   |  "         |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
                "     |$37.94  |5/1/9|J   | |5,000      |D  |8/25/|8/22/|"           |5,000  |       |-0-         |   |            |
                  "   |        |7    |    | |           |   |97   |06   |  "         |       |       |            |   |            |
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                      |        |     |    | |           |   |     |     |            |       |       |            |   |            |
___________________________________________________________________________________________________________________________________|

Explanation of Responses:                                                       
(1)  Exchanged for shares of common stock of Autoliv, Inc. on a 1 for 
0.341 basis, pursuant to a merger of Morton International, Inc. ("Morton")      
with a subsidiary of Autoliv,                                                   
Inc.                                                                            
(2)  All stock options in Table II were converted to options in (new) 
Morton International, Inc. ("new Morton") at adjusted share amounts and         
exercise prices as a result of a                                                
spinoff                                                                         
of new Morton from                                        
Morton.                                                                         
SIGNATURE OF REPORTING PERSON                                                   
/s/ Lewis N. Liszt                                                              
DATE                                                                            
06/10/97