X0303 4 2008-12-31 0001000623 SCHWEITZER MAUDUIT INTERNATIONAL INC SWM 0001026161 ARNOLD CLAIRE L C/O SCHWEITZER-MAUDUIT INTERNAT'L, INC. 100 NORTH POINT CENTER EAST, SUITE 600 ALPHARETTA, GA 30022 1 0 0 0 SWMCommon Stock 4210 D Phantom Stock Units 0 2008-12-31 4 A 0 91.5814 20.02 A 1988-08-08 1988-08-08 Common Stock 91.5814 12314.6536 D Dividends credited pursuant to the Director's election in accordance with the Schweitzer-Mauduit International, Inc. Deferred Compensation Plan for Non-Employee Directors and the Schweitzer-Mauduit International, Inc. Deferred Compensation Plan No. 2 for Non-Employee Directors ("Plans"). The Plans were filed as Exhibit 10.8.2 to the first quarter 2000 10-Q and Exhibit 10.15 to the 2004 10-K, respectively. Stock Units can be converted to cash or SWM common stock upon the earlier of retirement from the Board or termination as a Director in accordance with the Plan. Conversion into shares or cash is based on the fair market value of SWM common stock on the date of conversion. Honor Winks as Attorney-in-fact for Claire L. Arnold 2009-01-06