UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. 1. Name and Address of Reporting Person(s) ROWLAND MARCUS C. 6100 N. Western Avenue Oklahoma City, OK 73118 2. Issuer Name and Ticker or Trading Symbol Chesapeake Energy Corporation (CHK) 3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary) 4. Statement for Month/Year 03/02 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [ ] Director [ ] 10% Owner [X] Officer (give title below) [ ] Other (specify below) Exec. Vice President & CFO 7. Individual or Joint/Group Filing (Check Applicable Line) [X] Form filed by One Reporting Person [ ] Form filed by More than One Reporting Person Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned - ------------------------------------------------------------------------------------------------------------------------------------ 1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of action action or Disposed of (D) Securities Indirect Date Code A Beneficially D Beneficial (Month/ or Owned at or Ownership Day/Year) Code V Amount D Price End of Month I - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 03/05/02 F 4,561 D $6.4400 D Direct Common Stock 03/05/02 M 31,250 A $0.9400 D Direct Common Stock 03/06/02 S 26,500 D $6.4000 19,959 D Direct Table II (PART 1) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6) - ------------------------------------------------------------------------------------------------------------------------------------ 1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and Security or Exercise action action Securities Acquired (A) Expiration Date Price of Date Code or Disposed of (D) Derivative Security Code V A D Exercisable Expiration - ------------------------------------------------------------------------------------------------------------------------------------ Non-Qualified Stock Option $4.0000 05/04/10 (right to buy) Non-Qualified Stock Option $5.5600 11/07/10 (right to buy) Non-Qualified Stock Option $6.1100 07/10/11 (right to buy) Non-Qualified Stock Option $6.1100 12/14/11 (right to buy) Incentive Stock Option (right $1.1300 10/16/08 to buy) Non-Qualified Stock Option $0.9400 03/05/02 M 31,250 03/05/09 (right to buy) Non-Qualified Stock Option $1.1300 10/16/08 (right to buy) Table II (PART 2) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11) - ------------------------------------------------------------------------------------------------------------------------------------ 1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of Security action of Underlying of Deri- Derivative Indirect Date Securities vative Securities D Beneficial Amount or Security Beneficially or Ownership Number of Owned at I - Title Shares End of Month - ------------------------------------------------------------------------------------------------------------------------------------ Non-Qualified Stock Option Common Stock 30,000 30,000 D Direct (right to buy) Non-Qualified Stock Option Common Stock 75,000 75,000 D Direct (right to buy) Non-Qualified Stock Option Common Stock 85,000 85,000 D Direct (right to buy) Non-Qualified Stock Option Common Stock 90,000 90,000 D Direct (right to buy) Incentive Stock Option (right Common Stock 88,495 88,495 D Direct to buy) Non-Qualified Stock Option 03/05/02 Common Stock 31,250 31,250 D Direct (right to buy) Non-Qualified Stock Option Common Stock 10,872 10,872 D Direct (right to buy)Explanation of Responses: SIGNATURE OF REPORTING PERSON /S/ By: Jennifer M. Grigsby For: Marcus C. Rowland DATE 04/03/02