Ownership Submission
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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(Print or Type Responses)
1. Name and Address of Reporting Person *
FERGUSON J BRIAN
   2. Issuer Name and Ticker or Trading Symbol
EASTMAN CHEMICAL CO [EMN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman of the Board and CEO
(Last)
(First)
(Middle)
EASTMAN CHEMICAL COMPANY, 100 NORTH EASTMAN ROAD		 3. Date of Earliest Transaction (Month/Day/Year)
05/01/2007
(Street)

KINGSPORT, TN 37660-5075		 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 05/01/2007   F   113,400 D $ 66.5 55,495 D  
Common Stock 05/01/2007   M   158,594 A $ 47.55 214,089 D  
Common Stock 05/01/2007   M   650 A $ 60.1875 214,739 D  
Common Stock 05/01/2007   S   650 D $ 66 214,089 D  
Common Stock 05/01/2007   M   270 A $ 56.875 214,359 D  
Common Stock 05/01/2007   S   270 D $ 66 214,089 D  
Common Stock 05/01/2007   M   23,200 A $ 37.9375 237,289 D  
Common Stock 05/01/2007   S   23,200 D $ 66 214,089 D  
Common Stock 05/01/2007   M   50,000 A $ 43.66 264,089 D  
Common Stock 05/01/2007   S   50,000 D $ 66.0053 214,089 D  
Common Stock               5,642 (1) I 401(K)
Common Stock               579 I ESOP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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
Employee Stock Option (Right to Buy) $ 47.55 05/01/2007   M     158,594 04/05/2004 04/04/2012 Common Stock 158,594 $ 0 41,406 D  
Employee Stock Option (Right to Buy) $ 66.5 05/01/2007   A   113,400   05/01/2007 04/04/2012 Common Stock 113,400 $ 0 113,400 D  
Employee Stock Option (Right to Buy) $ 60.1875 05/01/2007   M     650 08/04/1999 08/03/2007 Common Stock 650 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 56.875 05/01/2007   M     270 08/06/2000 08/05/2008 Common Stock 270 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 37.9375 05/01/2007   M     23,200 10/19/2001 10/18/2009 Common Stock 23,200 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 43.66 05/01/2007   M     50,000 04/02/2007 04/01/2014 Common Stock 50,000 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
FERGUSON J BRIAN
EASTMAN CHEMICAL COMPANY
100 NORTH EASTMAN ROAD
KINGSPORT, TN 37660-5075		   X     Chairman of the Board and CEO  

Signatures

 Brian L. Henry, by Power of Attorney   05/03/2007
**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) Includes 56 shares acquired since March 8, 2007 resulting from automatic reinvestment of dividends.

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