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^*

WALDEN JAMES LOUIS

(Last)

(First)

(Middle)

2021 WEST WESLEY ROAD

(Street)

ATLANTA

30327

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
CARAUSTAR INDUSTRIES INC [ CSAR ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice President, Custom Pkg

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2004

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	02/06/2004		M		700	A	$7.05	40,987	D
Common Stock	02/06/2004		S		700	D	$13.38	40,287	D
Common Stock	02/06/2004		M		100	A	$7.05	40,387	D
Common Stock	02/06/2004		S		100	D	$13.37	40,287	D
Common Stock	02/06/2004		M		200	A	$7.05	40,487	D
Common Stock	02/06/2004		S		200	D	$13.33	40,287	D
Common Stock	02/06/2004		M		500	A	$7.05	40,787	D
Common Stock	02/06/2004		S		500	D	$13.28	40,287	D
Common Stock	02/06/2004		M		100	A	$7.05	40,387	D
Common Stock	02/06/2004		S		100	D	$13.32	40,287	D
Common Stock	02/06/2004		M		100	A	$7.05	40,387	D
Common Stock	02/06/2004		S		100	D	$13.311	40,287	D
Common Stock	02/06/2004		M		1,800	A	$7.05	42,087	D
Common Stock	02/06/2004		S		1,800	D	$13.25	40,287	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)
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)
1997 ISOs	$30.125							02/05/2003	02/05/2005	Common Stock	4,500		4,500	D
1998 ISOs Traditional	$34							04/20/2003	04/20/2008	Common Stock	4,638		4,638	D
1998 ISOs Performance	$40.8							04/20/2003	04/20/2008	Common Stock	3,359		3,359	D
1999 ISOs Traditional	$25.75							02/04/2004	02/04/2009	Common Stock	6,494		6,494	D
1999 ISOs Performance	$30.9							02/04/2004	02/04/2009	Common Stock	3,896		3,896	D
2000 ISOs	$17.94							08/08/1988⁽¹⁾	02/09/2010	Common Stock	7,354		7,354	D
2000 ISOs	$21.53							08/08/1988⁽²⁾	02/09/2010	Common Stock	7,209		7,209	D
2001 ISOs	$10.38							08/08/1988⁽³⁾	02/07/2011	Common Stock	4,897		4,897	D
2002 NQSOs	$7.05	02/06/2004		M			3,500	01/09/2004	02/09/2012	Common Stock	3,500	$0.00	0	D

Explanation of Responses:

1. 5,880 options vested; 1,474 options vesting February 9, 2005.

2. 5,764 options vested; 1,445 options vesting February 9, 2005.

3. 2,937 options vested; 979 vesting February 7, 2005; 981 options vesting February 7, 2006.

	Lee Gentry as attorney in fact	02/09/2004
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.