SEC Form 4

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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	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* KEANE DANIEL G (Last) (First) (Middle) 1801 ELMWOOD AVE (Street) BUFFALO NY 14207 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol MOD PAC CORP [ MPAC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) President
	3. Date of Earliest Transaction (Month/Day/Year) 08/17/2006
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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
$.01 Par Value Common Stock	08/17/2006		P		5,000	A	$8.8975	23,349	D
$.01 Par Value Class B Stock								21,237	D
$.01 Par Value Common Stock								6,435	I	By Spouse(1)
$.01 Par Value Class B Stock								14,995	I	By Spouse(1)
$.01 Par Value Common Stock								25,000	I	By Children(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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
Option	$5.221							01/18/2000	01/18/2009	$.01 PV Com Stk	10,313		10,313	D
Option	$5.221							01/18/2000	01/18/2009	$.01 PV Cl B Stk	3,867		3,867	D
Option	$6.22							01/18/2001	01/18/2010	$.01 PV Com Stk	9,444		9,444	D
Option	$6.22							01/18/2001	01/18/2010	$.01 PV Cl B Stk	3,729		3,729	D
Option	$12.413							04/26/2002	04/26/2011	$.01 PV Com Stk	9,822		9,822	D
Option	$12.413							04/26/2002	04/26/2011	$.01 PV Cl B Stk	2,455		2,455	D
Option	$10.344							01/25/2003	01/25/2012	$.01 PV Com Stk	11,172		11,172	D
Option	$5.392							01/24/2004	01/24/2013	$.01 PV Com Stk	31,921		31,921	D
Option	$8.44							02/20/2004	02/20/2014	$.01 PV Com Stk	28,000		28,000	D
Option	$12.8							07/06/2005	01/06/2015	$.01 PV Com Stk	22,300		22,300	D
Option	$11.68							06/21/2006	12/21/2015	$.01 PV Com Stk	22,300		22,300	D

Explanation of Responses:

1. Mr. Keane disclaims any beneficial interest in shares held by his wife.

2. Mr. Keane dislaims any beneficial interest in shares held by his children.

	/s/Danial J. Geary, as Power of Attorney for Daniel G. Keane	08/21/2006
	** 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.