Edgar Filing: Johnson Joseph B

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Johnson Joseph B

2. Issuer Name and Ticker or Trading Symbol
BOWATER INC [BOW]

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

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Vice President and Controller

(Last)

(First)

(Middle)

55 EAST CAMPERDOWN WAY

3. Date of Earliest Transaction (Month/Day/Year)
10/29/2007

(Street)

GREENVILLE, SC 29601

4. If Amendment, Date 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

(City)

(State)

(Zip)

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)
			Code	V	Amount	(A) or (D)	Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Restricted Stock Units

$ 27.7

10/29/2007

3,611

10/29/2007⁽¹⁾

02/07/2017

Common Stock

3,611

⁽²⁾

Restricted Stock Units

⁽³⁾

10/29/2007

4,417

⁽⁴⁾

01/30/2017

Common Stock

4,417

⁽²⁾

Restricted Stock Units

$ 26.35

10/29/2007

2,034

01/01/2008

05/10/2016

Common Stock

2,034

⁽²⁾

Restricted Stock Units

⁽³⁾

10/29/2007

1,720

01/24/2009

05/10/2016

Common Stock

1,720

⁽²⁾

Restricted Stock Units

⁽³⁾

10/29/2007

1,010

⁽⁵⁾

05/10/2016

Common Stock

1,010

⁽²⁾

Stock Options (right to buy)

$ 37.295

10/29/2007

1,000

⁽⁶⁾

01/25/2015

Common Stock

1,000

⁽⁷⁾

Stock Options (right to buy)

$ 45.02

10/29/2007

750

⁽⁶⁾

01/27/2014

Common Stock

750

⁽⁷⁾

Stock Appreciation Rights

$ 40.74

10/29/2007

1,250

⁽⁸⁾

01/28/2013

Common Stock

1,250

⁽⁹⁾

Stock Appreciation Rights

$ 47.025

10/29/2007

1,250

⁽⁸⁾

01/29/2012

Common Stock

1,250

⁽⁹⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Johnson Joseph B 55 EAST CAMPERDOWN WAY GREENVILLE, SC 29601			Vice President and Controller

Signatures

/s/ Joseph B. Johnson		10/31/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	These Restricted Stock Units vested upon consummation of the combination of Bowater Incorporated and Abitibi-Consolidated Inc. (the "Combination"), effected on October 29, 2007.
(2)	Assumed by AbitibiBowater in the Combination and replaced with restricted stock units representing a contingent right to receive an amount of AbitibiBowater common stock equal to the number of shares of Bowater common stock subject to the Restricted Stock Units multiplied by 0.52. AbitibiBowater common stock had a market value of $36.77 per share on the effective date of the Combination.
(3)	Each Restricted Stock Unit represents a contingent right to receive one share of Bowater common stock.
(4)	These Restricted Stock Units vest in three equal annual installments beginning January 30, 2007.
(5)	These Restricted Stock Units vest January 24, 2009 or in the event of involuntary termination without cause. If Bowater has cumulative positive earnings per share during the three-year period beginning January 1, 2006 and ending December 31, 2008, the total awards will vest. If Bowater has positive earnings per share for any one calendar year during the three-year period, one-third of the respective award will vest for each such year.
(6)	These Stock Options are exercisable.
(7)	Received in the Combination in exchange for stock options that represented a right to purchase an amount of Bowater common stock equal to the number of shares of AbitibiBowater common stock subject to the Stock Options divided by 0.52. The exercise price for the replaced stock options is determined by multiplying the exercise price of the Stock Options by 0.52.
(8)	These Stock Appreciation Rights are exercisable.
(9)	Received in the Combination in exchange for stock appreciation rights that represented a right to purchase an amount of Bowater common stock equal to the number of shares of AbitibiBowater common stock subject to the Stock Appreciation Rights divided by 0.52.

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