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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1. Name and Address of Reporting Person * OSAR KAREN R   2. Issuer Name and Ticker or Trading Symbol Chemtura CORP [CEM] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Exec. V.P. & CFO (Last) (First) (Middle) 199 BENSON ROAD 3. Date of Earliest Transaction (Month/Day/Year) 01/19/2007 (Street) MIDDLEBURY, CT 06749 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) Code V Amount (A) or (D) Price Common Stock 01/19/2007   J(1)   8,416 A $ 9.85 65,705 D   Common Stock 01/19/2007   J(2)   12,764 D $ 9.85 0 I Restricted Stock Account Common Stock               16,500 I Restricted Stock Account II Common Stock               17,052 I Restricted Stock Account III Common Stock               26,500 I Restricted Stock Account IV Common Stock               7,800 I Restricted Stock Account: Merger Integration Grants Common Stock               582 I Savings Plan (401k) Trust

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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

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

NQ Stock Option (Right to Buy)

$ 10.75

03/06/2007

04/05/2016

Common Stock

79,500

79,500

D

NQ Stock Option (Right to Buy)

$ 11.24

11/23/2005

12/22/2014

Common Stock

50,000

50,000

D

NQ Stock Option (Right to Buy)

$ 12.46

01/31/2007

02/29/2016

Common Stock

23,400

23,400

D

NQ Stock Option (Right to Buy)

$ 12.92

02/23/2006

03/22/2015

Common Stock

50,000

50,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
OSAR KAREN R 199 BENSON ROAD MIDDLEBURY, CT 06749			Exec. V.P. & CFO

Signatures

Karen R. Osar		01/23/2007
**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)	Direct holdings increased by 8,416 shares transferred from Restricted Stock Account.
(2)	13,021 shares were distributed to the reporting person in connection with the 2004-2006 Long Term Incentive Plan from Restricted Stock Account, of which 4,605 shares were withheld to satisfy tax withholding requirements. The 257 share discrepancy between the 13,021 shares distributed and the 12,764 shares shown in the Restricted Stock Account prior to the distribution represents dividend shares earned in the account over the years and not distributed during the first and second payouts from the account.

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