Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF 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 *
  Flaherty Billie S.
 2. Date of Event Requiring Statement (Month/Day/Year)
01/19/2009		 3. Issuer Name and Ticker or Trading Symbol
Chemtura CORP [CEM]
(Last)
(First)
(Middle)
199 BENSON ROAD		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP, GC and Secretary
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

MIDDLEBURY, CT US 06749		 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 Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 16,000 (3)
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
NQ Stock Options (Right to Buy) 03/06/2006 04/05/2016 Common Stock 8,500 $ 10.75 D  
NQ Stock Options (Right to Buy) 02/16/2007(1) 02/16/2017 Common Stock 13,300 $ 12.06 D  
NQ Stock Options (Right to Buy) 02/28/2008(2) 02/28/2018 Common Stock 35,000 $ 8.71 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Flaherty Billie S.
199 BENSON ROAD
MIDDLEBURY, CT US 06749		       SVP, GC and Secretary  

Signatures

Billie S. Flaherty 01/29/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(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) On 2/16/2009 3,325 options become exercisable, on 2/16/2010 3,325 options become exercisable, and on 2/16/2011 3,325 options become exercisable.
(2) On 2/28/2009 8,750 options become exercisable, on 2/28/2010 8,750 options become exercisable, on 2/28/2011 8,750 options become exercisable, and on 2/28/2012 8,750 options become exercisable.
(3) Included in this amount are the following amounts: 2,800 shares attributable to Restricted Stock Account 2006-2008 LTIP granted 3/6/2006, 1,500 time-based shares attributable to Restricted Stock Account 2006 LTIP granted 2/16/2007, 11,700 shares attributable to Restricted Stock Account 2008-2010 LTIP granted 2/28/2008. Certain amounts attributable to the foregoing Restricted Stock Accounts are subject to vesting requirements and thus may not be distributed. Certain amounts attributable to Restricted Stock Account 2006-2008 LTIP have been included, even though they may have been reportable on Table II. In order to provide consistency in reporting, the Reporting Person is voluntarily reporting the entire amount of the grant on Table I even though the Reporting Person may be required to report on Table I only those amounts which have vested pursuant to the terms of the grant.

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