Magnera Corp — Director's Dealing 2004

Nov 3, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GLATFELTER P H CO (GLT)
CIK: 0000041719
Period of Report: 2004-11-01

Reporting Person: DEBENEDICTIS NICHOLAS (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-01	Common Stock, Par Value $.01	A	478	$12.56	Acquired	7888.33	Direct
2004-11-01	Common Stock, Par Value $.01	J	62.33	—	Disposed	7826	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-11-01	Phantom Stock	$0	A	33.3587	Acquired	2014-11-01	Common Stock (33.3587)	Direct

Footnotes

F1: As part of the Director's compensation, each director receives a retainer of $9,000.00 semi-annually, 1/3 is paid in cash, and 2/3 in GLT stock. These shares represent the stock portion of this retainer.

F2: On August 4, 2003, Mr. DeBenedictis accrued these phantom shares under P. H. Glatfelter's Deferred Compensation Plan for Directors. They should have been entered in table II as a derivative, not in table I as a non-derivitave. The footnote at the time did indicate they were phantom shares.

F3: Phantom stock units accrued under the P. H. Glatfelter Deferred Compensation Plan for Directors on deferred quarterly dividend payments of $.09.