- Initial Statement of Beneficial Ownership (3)
22 Janvier 2010 - 2:29AM
Edgar (US Regulatory)
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0104
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February 28, 2011
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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Litton W Edwin
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2. Date of Event Requiring Statement (MM/DD/YYYY)
1/21/2010
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3. Issuer Name
and
Ticker or Trading Symbol
Cellu Tissue Holdings, Inc. [CLU]
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(Last)
(First)
(Middle)
1855 LOCKEWAY DRIVE, SUITE 501
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4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director
_____ 10% Owner
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X
___ Officer (give title below)
_____ Other (specify below)
Gen'l Counsel, Sr. V.P. /
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(Street)
ALPHARETTA, GA 30004
(City)
(State)
(Zip)
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5. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
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X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security
(Instr. 4)
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2. Amount of Securities Beneficially Owned
(Instr. 4)
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3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
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4. Nature of Indirect Beneficial Ownership
(Instr. 5)
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 4)
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2. Date Exercisable and Expiration Date
(MM/DD/YYYY)
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3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
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4. Conversion or Exercise Price of Derivative Security
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5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
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6. Nature of Indirect Beneficial Ownership
(Instr. 5)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Employee Stock Option
(1)
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(2)
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8/15/2016
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Common Stock
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4181
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$2.55
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D
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Employee Stock Option
(1)
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(3)
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12/3/2016
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Common Stock
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4181
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$2.55
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D
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Employee Stock Option
(1)
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(4)
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4/9/2017
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Common Stock
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4181
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$5.85
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D
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Employee Stock Option
(1)
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(5)
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4/7/2018
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Common Stock
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4181
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$5.64
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D
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Employee Stock Option
(1)
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(6)
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4/13/2019
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Common Stock
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21242
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$5.28
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D
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Put Right
(7)
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(7)
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(7)
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Common Stock
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7558
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$13.00
(7)
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D
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Explanation of Responses:
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(
1)
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Reporting person holds an option to purchase shares of Common Stock in Cellu Parent Corporation. Pursuant to the terms of the reorganization transactions that will be consummated in connection with the Issuer's initilal public offering, as described in the Issuer's Form S-1 Registration Statement dated January 21, 2010, the Cellu Parent Corporation options will be exchanged for options to purchase Issuer Common Stock.
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(
2)
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Upon the exchange described in footnote 1, the option will be vested as to 75% of the shares with vesting for the remaining shares to occur on August 15, 2010.
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(
3)
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Upon the exchange described in footnote 1, the option will be vested as to 75% of the shares with vesting for the remaining shares to occur on December 3, 2010.
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(
4)
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Upon the exchange described in footnote 1, the option will be vested as to 50% of the shares with vesting for the remaining shares to occur one-half each on April 1, 2010 and April 1, 2011.
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(
5)
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Upon the exchange described in footnote 1, the option will be vested as to 25% of the shares with vesting for the remaining shares to occur one-third each on April 7, 2010, April 7, 2011 and April 7, 2012.
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(
6)
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Upon the exchange and the closing of the Issuer's initial public offering, described in footnote 1, options to purchase 13,883 shares will fully vest with vesting for the remaining shares to occur one-quarter each on April 13, 2010, April 13, 2011, April 13, 2012 and April 13, 2013.
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(
7)
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Reporting Person was given the right to put to the Issuer, at the initial public offering price, the number of shares receivable upon exercise or partial exercise of the Cellu Parent Corporation option granted on April 13, 2009; provided, that the put right is exercised within 3 business days following the closing of the Issuer's initial public offering. The average exercise price of each option subject of the Put Right, if the entire Put Right is exercised, would be $4.61 per share.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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Litton W Edwin
1855 LOCKEWAY DRIVE
SUITE 501
ALPHARETTA, GA 30004
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Gen'l Counsel, Sr. V.P.
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Signatures
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/s/ W. Edwin Litton
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1/21/2010
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 5(b)(v).
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**
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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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Note:
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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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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 control number.
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