CABOT CORP — Director's Dealing 2004

Jul 1, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CABOT CORP (CBT)
CIK: 0000016040
Period of Report: 2004-06-30

Reporting Person: CLARKESON JOHN S (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-06-30	Phantom Stock Units	$0	A	314.5	Acquired	1988-08-08	Common stock (314.5)	Direct

Footnotes

F1: 1 for 1

F2: Immediately exercisable

F3: The shares of phantom stock become payable in monthly cash installments upon the reporting person's termination of service as a director.

F4: On May 14, 2004, Cabot's Board of Directors declared a dividend of $.15 per share on Cabot common stock, payable on June 11, 2004 to all holders of record of common stock on May 28, 2004. Mr. Clarkeson received a dividend on his phantom stock units totalling $563.60, which was immediately reinvested in phantom stock units at a price of $36.78 per share. As a result, 15.32 phantom stock units were allocated to Mr. Clarkeson on June, 11 2004.