UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Hipwell, Arthur P.
Humana Inc.
500 W. Main St.
Louisville, KY 40202
USA
2. Date of Event Requiring Statement (Month/Day/Year)
September 1, 1999
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Humana Inc.
HUM
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Senior Vice President & General Counsel
6. 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
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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Common (1) |20,189 |D | |
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Common (1) |6,893.2 |I |HRSP (2) |
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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Option(3) |1/13/96 |1/13/04 |Common (1) |18,750 |17.9375 |D | |
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Option(3) |1/13/97 |1/13/04 |Common (1) |18,750 |17.9375 |D | |
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Option(3) |1/13/98 |1/13/04 |Common (1) |18,750 |17.9375 |D | |
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Option(3) |1/13/99 |1/13/04 |Common (1) |18,750 |17.9375 |D | |
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Option(3) |7/20/96 |7/20/04 |Common (1) |6,250 |16.9375 |D | |
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Option(3) |7/20/97 |7/20/04 |Common (1) |6,250 |16.9375 |D | |
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Option(3) |7/20/98 |7/20/04 |Common (1) |6,250 |16.9375 |D | |
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Option(3) |7/20/99 |7/20/04 |Common (1) |6,250 |16.9375 |D | |
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Option(4) |9/1/99 |1/12/05 |Common (1) |68,800 |15.5938 |D | |
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Option(4) |9/1/99 |1/9/07 |Common (1) |36,680 |15.5938 |D | |
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Option-ISO(4) |9/1/99 |1/15/08 |Common (1) |4,316 |15.5938 |D | |
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Option-NQ(4) |9/1/99 |1/15/08 |Common (1) |21,784 |15.5938 |D | |
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Explanation of Responses:
(1) Each share of Common Stock contains a Right adopted on March 5, 1987, as
amended and restated on
February 14, 1996, and amended as of May 27, 1998 and March 1, 1999, pursuant
ot the Company's Rights
Agreement which entitles holders of the Company's Common Stock in the event
certain specified events occur, to
acquire 1/100th of a share of Series A Participating Preferred Stock at a price
of $145 per fractional share.
(2) Shares held for my benefit as of July 31, 1999 pursuant to the Humana
Retirement and Savings Plan ("HRSP")
exempt under Rule
16b-3(c).
(3) Right to buy pursuant to the Company's 1989 Stock Option Plan for
Employees.
(4) Right to buy pursuant to the Company's 1996 Stock Incentive Plan for
Employees.
