SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person*
Friesema Michael J

(Last) (First) (Middle)
C/O PENFORD CORPORATION
7094 S. REVERE PARKWAY

(Street)
CENTENNIAL CO 80112-3932

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
08/29/2012
3. Issuer Name and Ticker or Trading Symbol
PENFORD CORP [ PENX ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP Business Development
5. 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 Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 2,000 D
Common Stock 1,449.701 (1) I 401(k) plan
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) 09/08/2011 (2) 09/08/2017 Common Stock 10,000 4.66 D
Stock Option (Right to Buy) 01/26/2013 (2) 01/26/2019 Common Stock 10,000 5.65 D
Explanation of Responses:
1. Estimate of shares held within the 401(k) plan on the reporting person's behalf based on the 401(k) Penford stock fund balance divided by the stock closing price on August 29, 2012. It should be noted that the 401(k) Penford stock fund generally contains some cash and therefore is not fully invested in Penford stock.
2. The option becomes exercisable in three equal installments beginning on the first anniversary from date of grant; the first anniversary date is indicated above as the Date Exercisable.
Remarks:
Exhibit 24 power of attorney filed herewith.
/s/ Michael J. Friesema 09/10/2012
** 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 5 (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.
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