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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1391390	Boise Inc.	BZ	Papers & Allied Products (2600)	208356960

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1433998	A Robert Warren	Boise Inc. 1111 West Jefferson Street, Suite 200 Boise ID 83702-5388	Executive Vice President & Coo	No	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2010-11-08	10,271	$8.06	45,377	No	4	S	Direct
Common Stock	Disposition	2010-11-08	16,729	$8.07	28,648	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	S	Direct

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	2008 Restricted Stock Units	$0.00		2011-02-28	28,800	28,800	Direct
Common Stock	2008 Restricted Stock Units	$0.00		2011-02-28	46,500	46,500	Direct
Common Stock	2008 Restricted Stock Units	$0.00		2011-02-28	10,566	10,566	Direct
Common Stock	2009 Restricted Stock Units	$0.00		2012-03-15	232,000	232,000	Direct
Common Stock	2010 Restricted Stock Units	$0.00	2013-11-15	2013-11-15	50,000	50,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2011-02-28	28,800	28,800	Direct
2011-02-28	46,500	46,500	Direct
2011-02-28	10,566	10,566	Direct
2012-03-15	232,000	232,000	Direct
2013-11-15	50,000	50,000	Direct

Footnotes

Each restricted stock unit represents a contingent right to receive one share of Boise Inc. common stock.
These restricted stock units vest upon Boise Inc.'s common stock achieving a market price of $10.00 per share.
These restricted stock units vest upon Boise Inc.'s common stock achieving a market price of $12.50 per share.
The first 1/3 of Mr. Warren's 31,700 service-condition vesting restricted stock units vested on March 2, 2009, the second 1/3 vested on March 1, 2010, and the remaining 1/3 will vest on February 28, 2011. Pursuant to Mr. Warren's Restricted Stock Unit Award Agreement, the company pays cash for the fractional shares.
These service-condition vesting restricted stock units vest as follows: 20% vested on March 15, 2010; 20% will vest on March 15, 2011; and 60% will vest on March 15, 2012.
These restricted stock units vest November 15, 2013. Any of these restricted stock units that have not vested on or before November 15, 2013, will be forfeited.