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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT 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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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
| 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) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Option (right to buy) (4) (5) | $ 8.55 | 01/16/2008 | 01/16/2008 | M | 9,333 | 02/06/2000 | 02/06/2008 | Common Stock | 9,333 | $ 0 | 0 | D | |||
| Option (right to buy) (4) (6) | $ 10.81 | 05/01/2000 | 05/01/2008 | Common Stock | 24,896 | 24,896 | D | ||||||||
| Option (right to buy) (4) (7) | $ 13.27 | 05/07/2001 | 05/07/2009 | Common Stock | 32,000 | 32,000 | D | ||||||||
| Option (right to buy) (4) (8) | $ 8.5 | 02/04/2002 | 02/04/2010 | Common Stock | 66,666 | 66,666 | D | ||||||||
| Option (right to buy) (4) (9) | $ 7.55 | 02/02/2002 | 02/02/2011 | Common Stock | 66,666 | 66,666 | D | ||||||||
| Option (right to buy) (4) (10) | $ 8.51 | 02/01/2003 | 02/01/2012 | Common Stock | 33,333 | 33,333 | D | ||||||||
| Option (right to buy) (4) (11) | $ 5.57 | 02/07/2004 | 02/07/2013 | Common Stock | 36,666 | 36,666 | D | ||||||||
| Option (right to buy) (4) (12) | $ 9.64 | 02/06/2005 | 02/06/2014 | Common Stock | 33,333 | 33,333 | D | ||||||||
| Option (right to buy) (4) (13) | $ 13 | 02/04/2006 | 02/04/2015 | Common Stock | 33,333 | 33,333 | D | ||||||||
| Option (right to buy) (4) (14) | $ 17.36 | 02/03/2007 | 02/03/2016 | Common Stock | 34,166 | 34,166 | D | ||||||||
| Restricted Stock (4) (15) | (15) | (15) | (15) | Common Stock | 41,666 | 41,666 | D | ||||||||
| Restricted Stock (4) (16) | (16) | (16) | (16) | Common Stock | 50,000 | 50,000 | D | ||||||||
| Phantom Stock (4) (17) | (17) | (17) | (17) | Common Stock | 14,557 | 14,557 | D | ||||||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| JASTROW KENNETH M II 8333 DOUGLAS AVENUE DALLAS, TX 75225 |
X | Chairman of the Board | ||
| Scott A. Almy signed on behalf of Kenneth M. Jastrow, II. | 01/18/2008 | |
| **Signature of Reporting Person | Date |
| * | 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) | Reporting person surrendered shares to exercise expiring options. Represents shares withheld in payment of exercise price and in payment of taxes -- 6,430 shares withheld for exercise price and 1,059 shares withheld for taxes. |
| (2) | In accordance with the Rights Agreement adopted by the Company on December 11, 2007, Preferred Stock Purchase Rights are deemed to be attached to the shares of Common Stock. |
| (3) | Reporting Person acquired additional shares through on-going acquisitions under 401(k) plan. By trustee of the Temple-Inland Salaried Savings Plan according to the latest report of the Plan Administrator. (Note: Trustee uses unit accounting; therefore, share equivalents may fluctuate slightly from month to month.) |
| (4) | Shares acquired in a pro rata distribution by Temple-Inland Inc. through a spin-off on or around December 28, 2007. |
| (5) | Options Vesting Schedule for Options Granted 02/06/1998 - exercise price $8.55: Options Exerciserable 02/06/2000 - 1,400; Options Exerciserable 02/06/2001 - 1,400; Options Exerciserable 02/06/2002 - 1,400;Options Exerciserable 02/06/2003 - 1,400; and Options Exerciserable 02/06/2004 - 3,733. |
| (6) | Options Vesting Schedule for Options Granted 05/01/1998 - exercise price $10.81: Options Exerciserable 05/01/2000 - 5,000; Options Exerciserable 05/01/2001 - 5,000; Options Exerciserable 05/01/2002 - 5,000; Options Exerciserable 05/01/2003 - 5,000; and Options Exercisable 05/01/2004 - 4,896. |
| (7) | Options Vesting Schedule for Options Granted 05/07/1999 - exercise price $13.27: Options Exerciserable 05/07/2001 - 4,800; Options Exerciserable 05/07/2002 - 4,800; Options Exerciserable 05/07/2003 - 4,800; Options Exerciserable 05/07/2004 - 4,800; and Options Exerciserable 05/07/2005 - 12,800. |
| (8) | Options Vesting Schedule for Options Granted 02/04/2000 - exercise price $8.50: Options Exerciserable 02/04/2002 - 10,000; Options Exerciserable 02/04/2003 - 10,000; Options Exerciserable 02/04/2004 - 10,000; Options Exerciserable 02/04/2005 - 10,000; and Options Exerciserable 02/04/2006 - 26,666. |
| (9) | Options Vesting Schedule for Options Granted 02/02/2001 - exercise price $7.55: Options Exerciserable 02/04/2002 - 16,666; Options Exerciserable 02/04/2003 - 16,667; Options Exerciserable 02/04/2004 - 16,666; Options Exerciserable 02/04/2005 - 16,667. |
| (10) | Options Vesting Schedule for Options Granted 02/01/2002 - exercise price $8.51: Options Exerciserable 02/01/2003 - 8,333; Options Exerciserable 02/01/2004 - 8,333; Options Exerciserable 02/01/2005 - 8,333 and Options Exercisable 02/01/2006 - 8,334. |
| (11) | Options Vesting Schedule for Options Granted 02/07/2003 - exercise price $5.57: Options Exerciserable 02/07/2004 - 9,166; Options Exerciserable 02/07/2005 - 9,166; Options Exercisable 02/07/2006 - 9,166; and Options Exerciserable 02/07/2005 - 9,166. |
| (12) | Options Vesting Schedule for Options Granted 02/06/2004 - exercise price $9.64: Options Exerciserable 02/06/2005 - 8,333; Options Exerciserable 02/06/2006 - 8,333; Options Exerciserable 02/06/2007 - 8,333 and Options Exerciserable 02/06/2008 - 8,334. Award amount is 33,333; was inadvertently reported as 16,666 due to spin-off conversion calculation error on previous Form 4 dated December 18, 2007. |
| (13) | Options Vesting Schedule for Options Granted 02/04/2005 - exercise price $13.00: Options Exerciserable 02/04/2006 - 8,333; Options Exerciserable 02/04/2007 - 8,333; Options Exerciserable 02/04/2008 - 8,334 and Options Exerciserable 02/04/2009 - 8,333. |
| (14) | Options Vesting Schedule for Options Granted 02/03/2006 - exercise price $17.36: Options Exerciserable 02/03/2007 - 8,541; Options Exerciserable 02/03/2008 - 8,542; Options Exerciserable 02/03/2009 - 8,542 and Options Exerciserable 02/03/2010 - 8,541. |
| (15) | Restricted Shares granted on August 9, 2007 that will vest effective February 3, 2009. Restricted Shares will be settled for cash based on the fair market value on the vesting date subject to a 1% ROI performance criteria. |
| (16) | Restricted Shares granted on August 9, 2007 that will vest effective February 2, 2010. Restricted Shares will be settled for cash based on the fair market value on the vesting date subject to a 1% ROI performance criteria. |
| (17) | Phantom shares accrued under a Temple-Inland Inc. plan, which includes a dividend reinvestment feature, to be settled upon Reporting Person's retirement or other specified date. |