| FORM 4 | 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 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol TREDEGAR CORP [ TG ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
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| 3. Date of Earliest Transaction (Month/Day/Year) 12/21/2020 | ||||||||||||||||||||||||||
| 4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 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 | ||||||
| Tredegar Common Stock | 45,739 | D | ||||||||
| Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 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 Securities Underlying Derivative Security (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: 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)(1) | $11.67(2) | 12/21/2020 | J | 46,116 | 12/21/2020 | 05/22/2024 | Common Stock | 46,116 | $0 | 46,116 | D | ||||
| Stock Option (right to buy)(1) | $11.67(3) | 12/21/2020 | J | 20,962 | 12/21/2020 | 05/22/2024 | Common Stock | 20,962 | $0 | 67,078 | D | ||||
| Stock Option (right to buy)(1) | $14.43(4) | 12/21/2020 | J | 40,040 | 12/21/2020 | 05/07/2025 | Common Stock | 40,040 | $0 | 107,118 | D | ||||
| Stock Option (right to buy)(1) | $13.78(5) | 12/21/2020 | J | 44,100 | 03/22/2021 | 03/23/2026 | Common Stock | 44,100 | $0 | 151,218 | D | ||||
| Stock Option (right to buy)(1) | $10.75(6) | 12/21/2020 | J | 99,380 | 03/18/2022 | 03/25/2027 | Common Stock | 99,380 | $0 | 250,598 | D | ||||
| Stock Appreciation Right(7) | $15.25 | 12/21/2020 | A | 1,795 | 12/21/2020 | 05/22/2024 | Common Stock | 1,795 | $0 | 252,393 | D | ||||
| Stock Appreciation Right(7) | $15.25 | 12/21/2020 | A | 816 | 12/21/2020 | 05/22/2024 | Common Stock | 816 | $0 | 253,209 | D | ||||
| Stock Appreciation Right(7) | $15.25 | 12/21/2020 | A | 1,965 | 12/21/2020 | 05/07/2025 | Common Stock | 1,965 | $0 | 255,174 | D | ||||
| Stock Appreciation Right(7) | $15.25 | 12/21/2020 | A | 2,705 | 03/22/2021 | 03/23/2026 | Common Stock | 2,705 | $0 | 257,879 | D | ||||
| Stock Appreciation Right(7) | $15.25 | 12/21/2020 | A | 8,352 | 03/18/2022 | 03/25/2027 | Common Stock | 8,352 | $0 | 266,231 | D | ||||
| Explanation of Responses: |
| 1. On December 18, 2020, the Issuer paid a special dividend of $5.97 per share to all holders of its common stock as of the close of business on December 11, 2020 (the "Special Dividend"). In connection with the Special Dividend, the Executive Compensation Committee of the Issuer's Board of Directors (the "Committee") approved adjustments to the exercise price and number of shares subject to all unexercised stock options to account for the effect of the Special Dividend. |
| 2. The original grant was for 34,390 shares with an exercise price of $15.65 per share. |
| 3. The original grant was for 15,632 shares with an exercise price of $15.65 per share. |
| 4. The original grant was for 29,859 shares with an exercise price of $19.35 per share. |
| 5. The original grant was for 32,886 shares with an exercise price of $18.48 per share. |
| 6. The original grant was for 74,110 shares with an exercise price of $14.41 per share. |
| 7. Reflects a grant of stock appreciation rights made by the Committee to compensate holders for the loss in value of the stock options to which the stock appreciation rights relate as a result of the Special Dividend. |
| /s/ Michael J. Schewel | 12/23/2020 | |
| ** Signature of Reporting Person | Date | |
| 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). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| 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 Number. | ||
