Magnera Corp — Director's Dealing 2009

Jan 2, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GLATFELTER P H CO (GLT)
CIK: 0000041719
Period of Report: 2008-12-31

Reporting Person: MUKHERJEE DEBABRATA (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-12-31	Common Stock, Par Value $.01	F	1034	$9.30	Disposed	2466	Direct
2008-12-31	Common Stock, Par Value $.01	M	3500	$9.30	Acquired	5966	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-12-31	Restricted	$0	M	3500	Disposed	2008-12-31	Common Stock, Par Value $.01 (3500)	Direct

Footnotes

F1: Resticted stock units correspond 1 for 1 with common stock.

F2: Restricted Stock Units vested on December 31, 2008 and 1,034 shares of common stock were delivered in settlement of such units.

F3: These shares are restricted stock units (RSUs). These RSUs will lapse, and the restriction will cease after five years, with a vesting schedule of 33 1/3 after years 3, 4 and 5.