X0303 4 2009-01-29 0 0001296435 Neenah Paper Inc NP 0001303696 Lind Bonnie Cruickshank 3460 PRESTON RIDGE ROAD SUITE 600 ALPHARETTA GA 30005 0 1 0 0 Sr. VP, CFO and Treasurer Stock Appreciation Rights 25.70 2009-01-29 4 A 0 7650 A 2018-01-29 Common Stock 7650 7650 D Stock Option (right to buy) 25.70 2009-01-29 4 D 0 7650 D 2018-01-29 Common Stock 7650 0 D Stock Appreciation Rights 37.58 2009-01-29 4 A 0 4900 A 2017-08-06 Common Stock 4900 4900 D Stock Option (right to buy) 37.58 2009-01-29 4 D 0 4900 D 2017-08-06 Common Stock 4900 0 D Stock Appreciation Rights 36.15 2009-01-29 4 A 0 4900 A 2017-02-06 Common Stock 4900 4900 D Stock Option (right to buy) 36.15 2009-01-29 4 D 0 4900 D 2017-02-06 Common Stock 4900 0 D Stock Appreciation Rights 29.43 2009-01-29 4 A 0 6800 A 2016-08-06 Common Stock 6800 6800 D Stock Option (right to buy) 29.43 2009-01-29 4 D 0 6800 D 2016-08-06 Common Stock 6800 0 D Stock Appreciation Rights 27.58 2009-01-29 4 A 0 6800 A 2016-02-07 Common Stock 6800 6800 D Stock Option (right to buy) 27.58 2009-01-29 4 D 0 6800 D 2016-02-07 Common Stock 6800 0 D Stock Appreciation Rights 31.70 2009-01-29 4 A 0 6100 A 2015-08-21 Common Stock 6100 6100 D Stock Option (right to buy) 31.70 2009-01-29 4 D 0 6100 D 2015-08-21 Common Stock 6100 0 D Stock Appreciation Rights 33.19 2009-01-29 4 A 0 6100 A 2015-02-20 Common Stock 6100 6100 D Stock Option (right to buy) 33.19 2009-01-29 4 D 0 6100 D 2015-02-20 Common Stock 6100 0 D Stock Appreciation Rights 32.60 2009-01-29 4 A 0 47500 A 2014-12-15 Common Stock 47500 47500 D Stock Option (right to buy) 32.60 2009-01-29 4 D 0 47500 D 2014-12-15 Common Stock 47500 0 D Stock Option (right to buy) 7.41 2009-01-29 4 A 0 24100 0 A 2019-01-28 Common Stock 24100 24100 D Performance Share Unit 2009-01-29 4 A 0 15400 0 A 2011-12-31 Common Stock 15400 15400 D On 1/29/09, the Company cancelled, as authorized in the Neenah Paper, Inc Omnibus Stock and Incentive Compensation Plan (the "Omnibus Plan"), options granted to the reporting person on 1/30/08. In exchange for the cancelled options, the reporting person received an equal number of Stock Appreciation Rights, which are priced on and vest in the same manner as the cancelled options. The cancelled options provided for vesting in increments of one third on 1/30/2009, 1/30/2010, and 1/30/2011. The Stock Appreciation Rights vest on the same schedule. On 1/29/09, the Company cancelled, as authorized in the Omnibus Plan, options granted to the reporting person on 8/07/07. In exchange for the cancelled options, the reporting person received an equal number of Stock Appreciation Rights. The cancelled options provided for vesting in increments of one third on 8/07/2008, 8/07/2009, and 8/07/2010. The Stock Appreciation Rights vest on the same schedule. On 1/29/09, the Company cancelled, as authorized in the Omnibus Plan, options granted to the reporting person on 2/07/07. In exchange for the cancelled options, the reporting person received an equal number of Stock Appreciation Rights. cancelled options provided for vesting in increments of one third on 2/07/2008, 2/07/2009, and 2/07/2010. The Stock Appreciation Rights vest on the same schedule. On 1/29/09, the Company cancelled, as authorized in the Omnibus Plan, options granted to the reporting person on 8/07/2006. In exchange for the cancelled options, the reporting person received an equal number of Stock Appreciation Rights. The cancelled options provided for vesting in increments of one third on 8/07/2007, 8/07/2008, and 2/07/2009. The Stock Appreciation Rights vest on the same schedule. On 1/29/09, the Company cancelled, as authorized in the Omnibus Plan, options granted to the reporting person on 2/07/2006. In exchange for the cancelled options, the reporting person received an equal number of Stock Appreciation Rights. The cancelled options provided for vesting in increments of one third on 2/07/2007, 2/07/2008, and 2/07/2009. The Stock Appreciation Rights vest on the same schedule. On 1/29/09, the Company cancelled, as authorized in the Omnibus Plan, options granted to the reporting person on 8/22/2005. In exchange for the cancelled options, the reporting person received an equal number of Stock Appreciation Rights. The cancelled options provided for vesting in increments of one third on 8/22/2006, 8/22/2007, and 8/22/2008. The Stock Appreciation Rights vest on the same schedule. On 1/29/09, the Company cancelled, as authorized in the Omnibus Plan, options granted to the reporting person on 2/21/2005. In exchange for the cancelled options, the reporting person received an equal number of Stock Appreciation Rights. The cancelled options provided for vesting in increments of one third on 2/21/2006, 2/21/2007, and 2/21/2008. The Stock Appreciation Rights vest on the same schedule. On 1/29/09, the Company cancelled, as authorized in the Omnibus Plan, options granted to the reporting person on 12/15/2004. In exchange for the cancelled options, the reporting person received an equal number of Stock Appreciation Rights. The cancelled options provided for vesting in increments of one third on 12/15/2005, 12/15/2006, and 12/15/2007. The Stock Appreciation Rights vest on the same schedule. The stock options vest in increments of one third on 1/29/2010, 1/29/2011, and 1/29/2012. The units are convertible to common stock on a one-for-one basis. The units do not have an expiration date. The number of units granted is subject to adjustment based upon the attainment of certain performance criteria on 12/31/2011. /s/ Steven S. Heinrichs, by Power of Attorney 2009-02-02