Edgar Filing: Ellington Curtis Randolph

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 ^*

Ellington Curtis Randolph

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)
Senior VP - Newsprint Sales

(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)
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	10/29/2007		D		1,575	D	⁽¹⁾	0	D
Common Stock	10/29/2007		D		10,370.1007 ⁽²⁾	D	⁽¹⁾	0	I	401(k) Plan
Common Stock	10/29/2007		D		150	D	⁽¹⁾	0	I	IRA

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	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.		SEC 1474 (9-02)

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

$ 27.87

10/29/2007

5,841

⁽³⁾

01/30/2017

Common Stock

5,841

⁽⁴⁾

Restricted Stock Units

$ 26.35

10/29/2007

7,932

01/01/2008

05/10/2016

Common Stock

7,932

⁽⁴⁾

Restricted Stock Units

⁽⁵⁾

10/29/2007

1,130

01/24/2009

05/10/2016

Common Stock

1,130

⁽⁴⁾

Restricted Stock Units

⁽⁵⁾

10/29/2007

1,130

⁽⁶⁾

05/10/2016

Common Stock

1,130

⁽⁴⁾

Stock Options (right to buy)

$ 26.35

10/29/2007

4,370

01/24/2009

05/10/2016

Common Stock

4,370

⁽⁷⁾

Stock Options (right to buy)

$ 37.295

10/29/2007

10,000

⁽⁸⁾

01/25/2015

Common Stock

10,000

⁽⁷⁾

Stock Options (right to buy)

$ 45.02

10/29/2007

10,000

⁽⁸⁾

01/27/2014

Common Stock

10,000

⁽⁷⁾

Stock Options (right to buy)

$ 40.74

10/29/2007

10,000

⁽⁸⁾

01/28/2013

Common Stock

10,000

⁽⁷⁾

Stock Options (right to buy)

$ 47.025

10/29/2007

10,000

⁽⁸⁾

01/29/2012

Common Stock

10,000

⁽⁷⁾

Stock Options (right to buy)

$ 51.93

10/29/2007

10,000

⁽⁸⁾

01/30/2011

Common Stock

10,000

⁽⁷⁾

Stock Options (right to buy)

$ 48

10/29/2007

10,000

⁽⁸⁾

01/25/2010

Common Stock

10,000

⁽⁷⁾

Stock Options (right to buy)

$ 48.9688

10/29/2007

10,000

⁽⁸⁾

01/27/2008

Common Stock

10,000

⁽⁷⁾

Stock Appreciation Right

$ 54.84

10/29/2007

21,200

⁽⁹⁾

05/10/2010

Common Stock

21,200

⁽⁹⁾

Stock Appreciation Right

$ 39.78

10/29/2007

1,000

⁽⁹⁾

02/22/2009

Common Stock

1,000

⁽⁹⁾

Stock Appreciation Right

$ 41.0312

10/29/2007

10,000

⁽⁹⁾

01/26/2009

Common Stock

10,000

⁽⁹⁾

Phantom Stock Units

⁽¹⁰⁾

10/29/2007

1,334.7822 ⁽¹¹⁾

⁽¹⁰⁾

Common Stock

1,334.7822 ⁽¹¹⁾

⁽¹⁰⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Ellington Curtis Randolph 55 EAST CAMPERDOWN WAY GREENVILLE, SC 29601			Senior VP - Newsprint Sales

Signatures

/s/ Curtis Randolph Ellington		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)	Disposed of pursuant to the combination of Bowater Incorporated and Abitibi-Consolidated Inc. (the "Combination"), effected on October 29, 2007. Each share of Bowater Common Stock was exchanged for 0.52 of a share of AbitibiBowater common stock having a market value of $36.77 per share on the effective date of the Combination.
(2)	Represents all securities acquired by the reporting person under the Bowater Incorporated Savings Plan as of October 26, 2007. Additional securities may have accrued to the reporting person's account since that date.
(3)	These Restricted Stock Units vest in three equal annual installments beginning January 30, 2007.
(4)	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.
(5)	Each Restricted Stock Unit represents a contingent right to receive one share of Bowater common stock.
(6)	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.
(7)	Assumed by AbitibiBowater in the Combination and replaced with stock options to purchase an amount of AbitibiBowater common stock equal to the number of shares of Bowater common stock subject to the Stock Options multiplied by 0.52. The exercise price of the replacement stock options is determined by dividing the exercise price of the Stock Options by 0.52.
(8)	These Stock Options are exercisable.
(9)	Assumed by AbitibiBowater in the Combination and replaced with stock appreciation rights that are the economic equivalent of an amount of AbitibiBowater common stock equal to the number of shares of Bowater common stock subject to the Stock Appreciation Rights multiplied by 0.52. These stock appreciation rights are exercisable.
(10)	Assumed by AbitibiBowater in the Combination and replaced with phantom stock units that are the economic equivalent of an amount of AbitibiBowater common stock equal to the number of shares of Bowater common stock subject to the Phantom Stock Units multiplied by 0.52. Each Phantom Stock Unit is the economic equivalent of one share of Bowater common stock and becomes payable in cash upon the reporting person's retirement, death, disability, or other termination of employment.
(11)	Represents all securities acquired by the reporting person under the Bowater Incorporated Compensatory Benefits Plan as of October 26, 2007. Additional securities may have accrued to the reporting person's account since that date.

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