-------------------------- OMB APPROVAL OMB Number: 3235-0145 Expires: October 31, 2002 Estimated average burden hours per response...14.9 ----------------------------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Rule 13d-101) (Amendment No. 4)* MACDERMID, INCORPORATED -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK -------------------------------------------------------------------------------- (Title of Class of Securities) 554273 10 2 -------------------------------------------------------------------------------- (CUSIP Number) Serena Moe, Esq. CITIGROUP INC. 425 Park Avenue, 2nd Floor New York, NY 10022 (212) 559-2817 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 9, 2003 -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. | | 1 of 16 Pages CUSIP No. 5542773 10 2 13D Page 2 of 16 Pages ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons (entities only) CITICORP VENTURE CAPITAL LTD. ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group* (a) /X/ (b) / / ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* Not applicable. ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization New York ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power Beneficially None Owned by -------------------------------------------------- Each Reporting (8) Shared Voting Power Person With 2,784,952** -------------------------------------------------- (9) Sole Dispositive Power None -------------------------------------------------- (10) Shared Dispositive Power 2,784,952** ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,784,952** ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 8.6% ------------------------------------------------------------------------------- (14) Type of Reporting Person* CO ------------------------------------------------------------------------------- *SEE INSTRUCTION. **Represents 2,784,952 shares directly beneficially owned by Citicorp Venture Capital Ltd. ("CVC"). CUSIP No. 5542773 10 2 13D Page 3 of 16 Pages ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons (entities only) CITIBANK, N.A. ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group* (a) /X/ (b) / / ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* Not applicable. ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization National Banking Association ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power Beneficially None Owned by -------------------------------------------------- Each Reporting (8) Shared Voting Power Person With 2,784,952** -------------------------------------------------- (9) Sole Dispositive Power None -------------------------------------------------- (10) Shared Dispositive Power 2,784,952** ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,784,952** ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 8.6% ------------------------------------------------------------------------------- (14) Type of Reporting Person* BK ------------------------------------------------------------------------------- *SEE INSTRUCTION. **Represents 2,784,952 shares directly beneficially owned by Citicorp Venture Capital Ltd. ("CVC"). CUSIP No. 5542773 10 2 13D Page 4 of 16 Pages ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons (entities only) CITICORP ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group* (a) /X/ (b) / / ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* Not applicable. ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization Delaware ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power Beneficially None Owned by -------------------------------------------------- Each Reporting (8) Shared Voting Power Person With 3,384,952** -------------------------------------------------- (9) Sole Dispositive Power None -------------------------------------------------- (10) Shared Dispositive Power 3,384,952** ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 3,384,952** ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 10.5% ------------------------------------------------------------------------------- (14) Type of Reporting Person* HC ------------------------------------------------------------------------------- *SEE INSTRUCTION. **Represents (i) 2,784,952 shares directly beneficially owned by Citicorp Venture Capital Ltd. ("CVC"), and (ii) 600,000 shares directly beneficially owned by a limited partnership, whose general partner is a wholly-owned subsidiary of Citicorp, for which shares CVC disclaims beneficial ownership. CUSIP No. 5542773 10 2 13D Page 5 of 16 Pages ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons (entities only) CITIGROUP HOLDINGS COMPANY ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group* (a) /X/ (b) / / ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* Not applicable. ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power Beneficially None Owned by -------------------------------------------------- Each Reporting (8) Shared Voting Power Person With 3,384,952** -------------------------------------------------- (9) Sole Dispositive Power None -------------------------------------------------- (10) Shared Dispositive Power 3,384,952** ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 3,384,952** ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 10.5% ------------------------------------------------------------------------------- (14) Type of Reporting Person* HC ------------------------------------------------------------------------------- *SEE INSTRUCTION. **Represents (i) 2,784,952 shares directly beneficially owned by Citicorp Venture Capital Ltd. ("CVC"), and (ii) 600,000 shares directly beneficially owned by a limited partnership, whose general partner is a wholly-owned subsidiary of Citicorp, for which shares CVC disclaims beneficial ownership. CUSIP No. 5542773 10 2 13D Page 6 of 16 Pages ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons (entities only) CITIGROUP INC. ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group* (a) /X/ (b) / / ------------------------------------------------------------------------------- (3) SEC Use Only ------------------------------------------------------------------------------- (4) Source of Funds* Not applicable. ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization Delaware ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power Beneficially None Owned by -------------------------------------------------- Each Reporting (8) Shared Voting Power Person With 3,429,952** -------------------------------------------------- (9) Sole Dispositive Power None -------------------------------------------------- (10) Shared Dispositive Power 3,429,952** ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 3,429,952** ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 10.6% ------------------------------------------------------------------------------- (14) Type of Reporting Person* HC ------------------------------------------------------------------------------- *SEE INSTRUCTION. **Represents (i) 2,784,952 shares directly beneficially owned by Citicorp Venture Capital Ltd. ("CVC"), (ii) 600,000 shares directly beneficially owned by a limited partnership whose general partner is a wholly-owned subsidiary of Citicorp, for which shares CVC disclaims beneficial ownership, and (iii) 45,000 shares that may be deemed to be beneficially owned by other subsidiaries of Citigroup Inc., for which shares CVC disclaims beneficial ownership. ITEM 1. SECURITIES AND ISSUER. This Amendment No. 4 ("Amendment") to the Schedule 13D dated December 29, 1999, as amended by Amendment No. 1 filed on March 5, 2002, by Amendment No. 2 filed on July 12, 2002, and by Amendment No. 3 filed on September 19, 2002, relates to the common stock, no par value (the "Common Stock"), of MacDermid, Incorporated, a Connecticut corporation (the "Issuer"). This Amendment is being filed with the Securities and Exchange Commission pursuant to Rule 13d-2(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). ITEM 4. PURPOSE OF TRANSACTION. (a),(b) From November 21, 2002 to January 9, 2002, a limited partnership, whose general partner is a wholly-owned subsidiary of Citicorp (the "Partnership"), disposed of 337,693 shares of Common Stock in open market transactions in the ordinary course of business pursuant to Rule 144 ("Rule 144"), as promulgated under the Securities Act of 1933, as amended. Such dispositions of Common Stock reported on Form 144 dated (1) July 15, 2002; (2) December 9, 2002; (3) December 16, 2002; and (4) January 3, 2003. Except as described in this Item 4 of this Schedule 13D, none of the Reporting Persons nor, to the best knowledge of each Reporting Person, any of the persons named in Schedule A to this Schedule 13D, has formulated any plans or proposals which relate to or would result in: (a) the acquisition by any person of additional securities of the Company, or the disposition of securities of the Company; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Company or any of its subsidiaries; (d) any change in the present Board of Directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board; (e) any material change in the present capitalization or dividend policy of the Company; (f) any other material change in the Company's business or corporate structure; (g) any changes in the Company's charter or by-laws or other actions which may impede the acquisition or control of the Company by any person; (h) causing a class of securities of the Company to be delisted from a national securities exchange or cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) causing a class of equity securities of the Company to become eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or (j) any action similar to those enumerated above. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. The response to Item 5 of the Schedule 13D is hereby amended and supplemented as follows: The percentage calculations in Item 5 of this Schedule 13D are based upon the 32,149,882 shares of Common Stock outstanding, as reported in the Company's Form 10-Q filed on November 12, 2002. (a), (b) CVC. As of January 24, 2003, CVC directly beneficially owns 2,784,952 shares of Common Stock. This amount does not include 645,000 shares of Common Stock that may be deemed to be beneficially owned by other subsidiaries of Citigroup for which CVC disclaims beneficial ownership. The aggregate number of shares held by CVC represents approximately 8.6% of the outstanding shares of Common Stock. CVC has the shared power to vote and the shared power to dispose of the entire number of shares directly beneficially owned by CVC. CITIBANK, N.A. ("Citibank"). As of January 24, 2003, Citibank, exclusively through its holding company structure, indirectly beneficially owns 2,784,952 shares of Common Stock. This amount does not include 645,000 shares of Common Stock that may be deemed to be beneficially owned by other subsidiaries of Citigroup for which Citibank disclaims beneficial ownership. The aggregate 7 of 16 Pages number of shares held through the holding company structure by Citibank represents approximately 8.6% of the outstanding shares of Common Stock. Citibank has shared power to vote and shared power to dispose of the entire number of shares directly beneficially owned by CVC. CITICORP. As of January 24, 2003, Citicorp, exclusively through its holding company structure, indirectly beneficially owns 3,384,952 shares of Common Stock representing (1) 2,784,952 shares directly beneficially owned by CVC and (2) 600,000 shares directly beneficially owned by the Partnership. This amount does not include 45,000 shares of Common Stock that may be deemed to be owned by other subsidiaries of Citigroup for which Citicorp disclaims beneficial ownership. Citicorp may be deemed to beneficially own the 600,000 shares held by the Partnership because a wholly-owned subsidiary of Citicorp is the general partner of the Partnership. The aggregate number of shares held through the holding company structure by Citicorp represents approximately 10.5% of the outstanding shares of Common Stock. Citicorp has shared power to vote and shared power to dispose of the entire number of shares directly beneficially owned by CVC and the Partnership. CVC disclaims beneficial ownership with respect to the 600,000 shares directly beneficially owned by the Partnership. CITIGROUP HOLDINGS COMPANY ("Citigroup Holdings"). As of January 24, 2003, Citigroup Holdings, exclusively through its holding company structure, indirectly beneficially owns 3,384,952 shares of Common Stock representing (1) 2,784,952 shares directly beneficially owned by CVC and (2) 600,000 shares directly beneficially owned by the Partnership. This amount does not include 45,000 shares of Common Stock that may be deemed to be owned by other subsidiaries of Citigroup for which Citigroup Holdings disclaims beneficial ownership. Citigroup Holdings may be deemed to beneficially own the 600,000 shares held by the Partnership because Citicorp is a wholly-owned subsidiary of Citigroup Holdings. The aggregate number of shares held through the holding company structure by Citigroup Holdings represents approximately 10.5% of the outstanding shares of Common Stock. Citigroup Holdings has shared power to vote and shared power to dispose of the entire number of shares directly beneficially owned by CVC and the Partnership. CVC disclaims beneficial ownership with respect to the 600,000 shares directly beneficially owned by the Partnership. CITIGROUP INC. ("Citigroup"). As of January 24, 2003, Citigroup, exclusively through its holding company structure, indirectly beneficially owns 3,429,952 shares of Common Stock representing (1) 2,784,952 shares directly beneficially owned by CVC, (2) 600,000 shares directly beneficially owned by the Partnership and (3) 45,000 shares directly beneficially owned by other subsidiaries of Citigroup. Citigroup may be deemed to beneficially own the 600,000 shares held by the Partnership and the 45,000 shares held by its direct and indirect subsidiaries. The aggregate number of shares held through Citigroup's holding company structure represents approximately 10.6% of the outstanding shares of Common Stock. Citigroup has shared power to vote and shared power to dispose of the entire number of shares directly beneficially owned by CVC, the Partnership and the other subsidiaries of Citigroup. CVC disclaims beneficial ownership with respect to the 600,000 shares directly beneficially owned by the Partnership and the 45,000 shares directly beneficially owned by other subsidiaries of Citigroup. (c) From November 21, 2002 to January 9, 2003, the Partnership disposed of 337,693 shares of Common Stock in open market transactions in the ordinary course of business under Rule 144, as promulgated under the Securities Act of 1933, as amended. Such dispositions of Common Stock were reported on Forms 144 dated (1) July 15, 2002, (2) December 9, 2002, (3) December 16, 2002, and (4) January 3, 2003. The dates, share amounts, and prices for such dispositions since November 21, 2002 are as follows: Shares Average Price Date Sold per Share ---- ---- --------- 11/21/2002 15,000 21.30 8 of 16 Pages 11/22/2002 32,400 21.43 11/25/2002 36,000 21.69 11/26/2002 12,000 21.57 11/27/2002 58,120 22.15 11/29/2002 13,000 22.42 12/26/2002 13,400 23.34 12/27/2002 16,200 22.95 12/30/2002 9,000 22.85 12/31/2002 7,100 22.88 01/02/2003 28,000 23.18 01/03/2003 39,000 22.99 01/06/2003 37,000 23.00 01/07/2003 7,000 22.99 01/08/2003 7,000 23.01 01/09/2003 7,473 23.41 ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. 1. Joint Filing Agreement, dated as of January 27, 2003 by and among CVC, Citibank, Citicorp, Citigroup Holdings and Citigroup. 9 of 16 Pages SIGNATURES After reasonable inquiry and to the best of each of the undersigned's knowledge and belief, each of the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: January 27, 2003 CITICORP VENTURE CAPITAL LTD. By: /s/ Anthony P. Mirra ---------------------------------------- Name: Anthony P. Mirra Its: Vice President & Assistant Secretary CITIBANK, N.A. By: /s/ Joseph B. Wollard ---------------------------------------- Name: Joseph B. Wollard Its: Assistant Secretary CITICORP By: /s/ Joseph B. Wollard ---------------------------------------- Name: Joseph B. Wollard Its: Assistant Secretary CITIGROUP HOLDINGS COMPANY By: /s/ Joseph B. Wollard ---------------------------------------- Name: Joseph B. Wollard Its: Assistant Secretary CITIGROUP INC. By: /s/ Joseph B. Wollard ---------------------------------------- Name: Joseph B. Wollard Its: Assistant Secretary 10 of 16 Pages SCHEDULE A EXECUTIVE OFFICERS AND DIRECTORS OF CITICORP VENTURE CAPITAL LTD. NAME, POSITION, CITIZENSHIP (UNITED STATES, UNLESS OTHERWISE INDICATED) TITLE ------------------------------------------------- ------------------------------------ William T. Comfort Director and Chairman Director David F. Thomas Director and President Director Michael T. Bradley Vice President Executive Officer Lauren M. Connelly Vice President and Secretary Executive Officer Charles E. Corpening Vice President Executive Officer Michael A. Delaney Vice President Executive Officer Michael S. Gollner Vice President Executive Officer Ian D. Highet Vice President Executive Officer David Y. Howe Vice President Executive Officer Darryl A. Johnson Assistant Vice President Executive Officer Byron L. Knief Vice President Executive Officer Richard E. Mayberry Vice President Executive Officer Thomas F. McWilliams Vice President Executive Officer Anthony P. Mirra Vice President & Assistant Secretary Executive Officer 11 of 16 Pages NAME, POSITION, CITIZENSHIP (UNITED STATES, UNLESS OTHERWISE INDICATED) TITLE ------------------------------------------------- ------------------------------------ Paul C. Schorr Vice President Executive Officer Joseph M. Silvestri Vice President Executive Officer James A. Urry Vice President Executive Officer John D. Weber Vice President Executive Officer 12 of 16 Pages SCHEDULE B EXECUTIVE OFFICERS AND DIRECTORS OF CITIGROUP INC. NAME, POSITION, CITIZENSHIP (UNITED STATES, UNLESS OTHERWISE INDICATED) TITLE ------------------------------------------------- ------------------------------------ C. Michael Armstrong Chairman Director Comcast Corporation Alain J. P. Belda Chairman & Chief Executive Officer Director Alcoa Inc. Brazil George David Chairman & Chief Executive Officer Director United Technologies Corporation Kenneth T. Derr Chairman, Retired Director Chevron Texaco Corporation John M. Deutch Institute Professor Director Massachusetts Institute of Technology The Honorable Gerald R. Ford Former President of the United States Honorary Director Alfredo Harp-Helu Chairman Director Grupo Financiero Banamex Mexico Ann Dibble Jordan Consultant Director Reuben Mark Chairman and Chief Executive Officer Director Colgate-Palmolive Company Dudley C. Mecum Managing Director Director Capricorn Holdings, G. P. Richard D. Parsons Chief Executive Officer Director AOL - Time Warner Inc. Andrall E. Pearson Founding Chairman Director Yum! Brands, Inc. Roberto Hernandez Ramirez Chairman Director Banco de Nacional de Mexico Mexico 13 of 16 Pages NAME, POSITION, CITIZENSHIP (UNITED STATES, UNLESS OTHERWISE INDICATED) TITLE ------------------------------------------------- ------------------------------------ Robert E. Rubin Chairman of the Executive Committee and Director and Member of the Office of the Chairman Executive Officer Citigroup Inc. Franklin A. Thomas Consultant Director TFF Study Group Sanford I. Weill Chairman and Chief Executive Officer Director and Citigroup Inc. Executive Officer Arthur Zankel Managing Partner Director Zankel Capital Advisors, LLC Winfred F. W. Bischoff Chairman Executive Officer Citigroup Europe United Kingdom and Germany Michael A. Carpenter Chairman & Chief Executive Officer Executive Officer Corporate Global Investments Citigroup Inc. Robert Druskin Chief Operations and Technology Officer, Executive Officer President & COO-Global Corporate & Investment Bank Citigroup Inc. Stanley Fischer Vice Chairman Executive Officer Citigroup Inc. Joan Guggenheimer Co-General Counsel Executive Officer Citigroup Inc. William P. Hannon Controller & Chief Accounting Executive Officer Officer Citigroup Inc. Thomas Wade Jones Chairman & Chief Executive Officer Executive Officer Global Investment Management and Private Banking Group Sallie Krawcheck Chairman & CEO Executive Officer Smith Barney Marjorie Magner COO & Chief Administrative Officer Executive Officer Global Consumer Group Michael T. Masin Vice Chairman and Chief Executive Officer Operating Officer 14 of 16 Pages NAME, POSITION, CITIZENSHIP (UNITED STATES, UNLESS OTHERWISE INDICATED) TITLE ------------------------------------------------- ------------------------------------ Deryck C. Maughan Vice Chairman Executive Officer Citigroup Inc. United Kingdom Victor J. Menezes Senior Vice Chairman Executive Officer Citigroup Inc. Stephanie B. Mudick Co-General Counsel Executive Officer Citigroup Inc. Charles O. Prince, III Chairman and CEO Executive Officer Global Corporate and Investment Bank William R. Rhodes Senior Vice President Executive Officer Citigroup Inc. Todd S. Thomson Executive Vice President, Finance & Executive Officer Investment and Chief Financial Officer Citigroup Inc. Robert B. Willumstad President Executive Officer Citigroup Inc. 15 of 16 Pages EXHIBIT INDEX 1. Joint Filing Agreement, dated as of January 27, 2003 by and among CVC, Citibank, Citicorp, Citigroup Holdings and Citigroup. 16 of 16 Pages