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
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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*
HOWATT THOMAS J

(Last) (First) (Middle)
100 PAPER PLACE

(Street)
MOSINEE WI 54455

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
WAUSAU PAPER CORP. [ WPP ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chairman of the Board
3. Date of Earliest Transaction (Month/Day/Year)
02/15/2012
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
No Par Value Common Stock 02/15/2012 J (1) V 602.4823 A $9.5396 262,183.6909 D
No Par Value Common Stock 02/29/2012 A 11,592 A $0 (7) 273,775.6909 D
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
Common Stock Equivalent Units $0 (2) 02/15/2012 A V 74.4659 08/08/1988 (3) 08/08/1988 (3) Common Stock 74.4659 $0 23,407.041 D
Dividend Equivalents $0 (4) 02/15/2012 A V 22.2 08/08/1988 (4) 08/08/1988 (4) Common Stock 22.2 $0 2,098.3 D
Restricted Stock Units $0 (5) 02/15/2012 A V 26.9665 08/08/1988 (5) 08/08/1988 (5) Common Stock 26.9665 $0 8,476.4864 D
Performance Rights $0 (2) 02/29/2012 A (6) 17,617.1614 02/29/2012 02/29/2012 Common Stock 17,617.1614 $0 17,617.1614 D
Performance Rights $0 (7) 02/29/2012 D 17,617.1614 02/29/2012 02/29/2012 Common Stock 17,617.1614 $0 0 D
Explanation of Responses:
1. Acquired under Dividend Reinvestment Plan.
2. Converts to common stock on a one-for-one basis.
3. Stock equivalent units accrued under the Deferred Compensation Plan for Directors; the value of the units is paid in cash at Director's termination of service.
4. Accruals on dividend record dates. Value of Dividend Equivalents paid in cash only at earlier of termination of employment or exercise of certain options.
5. Each unit represents right to receive one share of issuer's common stock upon termination of service as a director, unless deferred at election of reporting person.
6. Performance conditions satisified on February 29, 2012. Includes accrued dividend equivalent shares to February 29, 2012.
7. Performance rights settled in common stock and cash upon satisfaction of performance conditions. The number of rights settled in common stock are reported in Table I.
Remarks:
Sherri L. Lemmer, Attorney-in-Fact 03/02/2012
** 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).
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