Magnera Corp — Director's Dealing 2010

May 20, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GLATFELTER P H CO (GLT)
CIK: 0000041719
Period of Report: 2010-05-03

Reporting Person: DEBENEDICTIS NICHOLAS (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-05-03	Common Stock, par value $.01	A	781	$14.95	Acquired	11571	Direct
2010-05-04	Common Stock, par value $.01	M	2153	—	Acquired	13724	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-05-03	Restricted Stock Units	$0	A	2007	Acquired		Common Stock, par value $.01 (2007)	Direct
2010-05-04	Restricted Stock Units	$0	M	2153	Disposed	2010-05-04	Common Stock, par value $.01 (2153)	Direct

Footnotes

F1: As part of the Director's compensation, each director receives a retainer of $17,500 semi-annually, 1/3 is paid in cash, and 2/3 in Company stock. These shares represent the stock portion of this retainer for 2010.

F2: These shares represent the 2007 restricted stock unit grant for which all forfeiture restrictions lapsed on May 4, 2010.

F3: Each Restricted Stock Unit represents a contingent right to receive one share of Company common stock at no cost.

F4: One-third of the restricted stock units awarded vest on the day prior to each of the first, second and third Annual Meeting of Shareholders of the Company following the Award Date, and all restrictions on vested restricted stock units lapse on the day prior to the third Annual Meeting of Shareholders following the Award Date, provided the Director continues to serve continuously as a Director of the Company until the respective vesting dates.