SEC FORM 4

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^*

Adamson Grant F.

(Last)

(First)

(Middle)

1300 SOUTH MOPAC

THIRD FLOOR

(Street)

AUSTIN

78746

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
TEMPLE INLAND INC [ TIN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Governance Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/27/2009

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	07/27/2009	07/27/2009	M		6,000	A	$10.55	15,038⁽¹⁾	D
Common Stock	07/27/2009	07/27/2009	S		6,000	D	$15.37⁽²⁾	9,038	D
Common Stock	07/27/2009	07/27/2009	I		3,112	D	$15.74	0	I	By Trustee of 401(k) Plan

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Options (right to buy)	$11.73							02/05/2000	02/05/2009⁽³⁾	Common Stock	2,000		2,000⁽³⁾	D
Options (right to buy)	$10.55	07/27/2009	07/27/2009	M			6,000	02/04/2001	02/04/2010⁽⁴⁾	Common Stock	6,000	$0.00	0	D
Options (right to buy)	$9.37							02/02/2002	02/02/2011⁽³⁾	Common Stock	6,000		6,000⁽³⁾	D
Options (right to buy)	$10.56							02/01/2003	02/01/2012⁽⁵⁾	Common Stock	6,000		6,000⁽⁵⁾	D
Options (right to buy)	$6.92							02/07/2004	02/07/2013⁽⁶⁾	Common Stock	6,000		6,000⁽⁶⁾	D
Options (right to buy)	$11.96							02/06/2005	02/06/2014⁽⁷⁾	Common Stock	3,750		3,750⁽⁷⁾	D
Options (right to buy)	$16.14							02/04/2006	02/04/2015⁽⁸⁾	Common Stock	5,000		5,000⁽⁸⁾	D
Options (right to buy)	$21.55							02/03/2007	02/03/2016⁽⁹⁾	Common Stock	5,125		5,125⁽⁸⁾	D
Options (right to buy)	$24.34							02/02/2008	02/02/2017⁽¹⁰⁾	Common Stock	5,125		5,125⁽¹⁰⁾	D
Options (right to buy	$19.5							02/01/2009	02/01/2018	Common Stock	32,199		32,199	D
Restricted Stock Units	$0.00							⁽¹¹⁾	⁽¹¹⁾	Common Stock	8,500		8,500	D
Restricted Stock Units	$0.00							⁽¹¹⁾	⁽¹¹⁾	Common Stock	12,051		12,051	D
Options (right to buy)	$5.64⁽¹²⁾							02/06/2010⁽¹²⁾	02/06/2019⁽¹²⁾	Common Stock	36,990⁽¹²⁾		36,990	D
Performance Stock Units	⁽¹³⁾							⁽¹³⁾	⁽¹³⁾	Common Stock	38,592		38,592	D

Explanation of Responses:

1. Reporting person acquired additional shares through on-going dividend reinvestment

2. The price in Column 4 is a weighted average price. The prices actually paid ranged from $15.36 to $15.39. The reporting person will provide any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range.

3. Option vesting schedule for options granted 02/5/99: 1500 on 02/05/00, 1500 on 02/05/01, 1500 on 02/05/02 and 1500 on 02/05/03.

4. Option vesting schedule for options granted 02/04/01: 1500 on 02/01/02; 1500 on 02/04/03,1500 on 02/04/05 and 1500 on 02/04/06.

5. Option vesting schedule for options granted 02/07/03: 1500 on 02/07/04, 1500 on 02/07/05, 1500 on 02/07/06 and 1500 on 02/07/07.

6. Option vesting schedule for options granted 02/06/04: 1250 on 02/06/05, 1250 on 02/06/06, 1250 on 02/06/07 and 1250 on 02/06/08.

7. Option vesting schedule for options granted 02/04/05: 1250 on 02/04/06, 1250 on 02/04/07, 1250 on 02/04/07 and 1250 on 02/04/09.

8. Options Vesting Schedule for Options Granted 02/03/2006: Options Exerciserable 02/03/2007 - 1281; Options Exerciserable 02/03/2008 - 1281; Options Exerciserable 02/03/2009 - 1281; and Options Exerciserable 02/03/2010 - 1281.

9. Options Vesting Schedule for Options Granted 02/02/2007: Options Exerciserable 02/02/2008- 1281; Options Exerciserable 02/02/2009- 1281; Options Exerciserable 02/02/2010- 1281; and Options Exerciserable 02/02/2011- 1282.

10. Granted 02/01/2008 Option vesting schedule: options exercisable 02/01/2009, 8049; Options exercisable 02/01/2010, 8050; Options exercisable 02/01/2011, 8050 Options exercisable 02/01/20112, 8050.

11. Restricted Shares granted on August 9, 2007 that will vest effective February 2, 2010. Restricted Shares will be settled for cash based on the fair market value on the vesting date subject to a 1% ROI performance criteria.

12. Options Vesting Schedule for Options Granted 02/06/2009. Options Exerciserable 02/06/2010 - 9,247; Options Exerciserable 02/06/2011 - 9,248; Options Exerciserable 02/06/2012 - 9,247; and Options Exerciserable 02/06/2013 - 9,248.

13. Performance Stock Units granted on February 6, 2009 will vest effective February 6, 2012 if 1% ROI performance criteria is met, or Company is above the 4th Quartile ROI ranking compared to its peer group. Performance Stock Units will be settled for cash based on the fair market value on the vesting date.

Remarks:

	Signed by Leslie K. O'Neal on behalf of Grant F. Adamson	07/29/2009
	** 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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