Sec Form 4 Filing - LOVETT JAMES W @ COVANCE INC - 2014-02-19

Insider filing report for Changes in Beneficial Ownership
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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
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
LOVETT JAMES W
2. Issuer Name and Ticker or Trading Symbol
COVANCE INC [ CVD]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Corporate Sr. Vice President
(Last) (First) (Middle)
COVANCE INC., 210 CARNEGIE CENTER
3. Date of Earliest Transaction (MM/DD/YY)
02/19/2014
(Street)
PRINCETON, NJ08540-6233
4. If Amendment, Date Original Filed (MM/DD/YY)
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 (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 02/19/2014 G V 245 ( 1 ) D $ 0 50,936 D
Common Stock 02/19/2014 M 2,950 A $ 62.65 53,886 D
Common Stock 02/19/2014 M 3,200 A $ 56.93 57,086 D
Common Stock 02/19/2014 M 450 A $ 48.16 57,536 D
Common Stock 02/19/2014 S 11,555 D $ 102.76 45,981 D
Common Stock 02/20/2014 M 3,400 A $ 48.16 49,381 D
Common Stock 02/20/2014 S 3,400 D $ 101.5 45,981 D
Common Stock - 401(k) Plan 1,316 ( 2 ) I Held By Trustee
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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
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
Stock Option (Right to Buy) $ 62.65 02/19/2014 M 2,950 02/22/2010 02/21/2017 Common Stock 2,950 $ 0 0 D
Stock Option (Right to Buy) $ 56.93 02/19/2014 M 3,200 02/17/2013( 3 ) 02/16/2020 Common Stock 3,200 $ 0 9,344 D
Stock Option (Right to Buy) $ 48.16 02/19/2014 M 450 02/20/2016( 4 ) 02/19/2022 Common Stock 450 $ 0 10,200 D
Stock Option (Right to Buy) $ 48.16 02/20/2014 M 3,400 02/20/2016( 4 ) 02/19/2022 Common Stock 3,400 $ 0 6,800 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
LOVETT JAMES W
COVANCE INC.
210 CARNEGIE CENTER
PRINCETON, NJ08540-6233
Corporate Sr. Vice President
Signatures
/s/ Ross A. Hyams, Power of Attorney 02/20/2014
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Charitable donation.
( 2 )The securities reported were acquired on a periodic basis by the Trustee of the Covance 401(k) plan, a broad-based, tax-qualified employee benefit plan. The information was obtained from the Plan Administrator as of this date. The shares have been accumulated by the Trustee over the employment of the reporting person and the number is based upon the market value of the reporting person's account divided by the then current market price.
( 3 )The option vests in three equal annual installments with the first installment vesting one year from grant date.
( 4 )The option vests in four equal annual installments with the first installment vesting February 17, 2011.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).

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