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Filing Details

Accession Number:: 0001225208-10-025244
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-11-18 17:18:23
Reporting Period:: 2010-11-16

Filing Date:: 2010-11-18
Accepted Time:: 2010-11-18 17:18:23
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1089976	Pactiv Corp	PTV	Plastics, Foil & Coated Paper Bags (2673)	362552989

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1198548	N John Schwab	1900 W. Field Court Lake Forest IL 60045	Svp, Gm, Cnsmr. Products	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-11-16	107,700	$33.25	184,211	No	4	M	Direct
Common Stock	Disposition	2010-11-16	76,511	$33.25	107,700	No	4	D	Direct
Common Stock	Disposition	2010-11-16	107,700	$33.25	0	No	4	D	Direct
Common Stock	Acquisiton	2010-11-16	537	$0.00	6,074	No	4	P	Indirect	By 401k
Common Stock	Disposition	2010-11-16	6,074	$33.25	0	No	4	D	Indirect	By 401k

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Direct
No	4	D	Direct
No	4	D	Direct
No	4	P	Indirect	By 401k
No	4	D	Indirect	By 401k

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Employee Stock Option	Disposition	2010-11-16	108,000	$33.25	108,000	$23.98
Common Stock	Employee Stock Option	Disposition	2010-11-16	120,000	$33.25	120,000	$20.25
Common Stock	Performance Share Units	Acquisiton	2010-11-16	107,700	$33.25	107,700	$0.00
Common Stock	Performance Share Units	Disposition	2010-11-16	107,700	$33.25	107,700	$0.00
Common Stock	Stock Equivalent Units	Disposition	2010-11-16	53,005	$33.25	53,005	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2005-09-14	2014-09-14	No	4	D	Direct
0	2004-09-17	2013-09-17	No	4	D	Direct
107,700	2010-11-16		No	4	A	Direct
0	2010-11-16		No	4	D	Direct
0	1988-08-08	1988-08-08	No	4	D	Direct

Footnotes

Disposed of pursuant to the merger (the "Merger") of the issuer with Reynolds Acquisition Corporation ("Reynolds Acquisition") in accordance with the Agreement and Plan of Merger dated August 16, 2010, among issuer, Rank Group Limited, Reynolds Group Holdings Limited, and Reynolds Acquisition (the "Agreement").
Represents per share merger consideration under the Agreement.
Balance reflects transfer of 3,871 shares under exempt transaction.
Shares acquired under reporting person's 401(k) plan, purchased at prices between $22.69 and $33.23 per share.
Each stock option of the issuer became exercisable in full upon consummation of the Merger and was cancelled in the Merger in exchange for a cash payment per share equal to the difference between the exercise price of the option and $33.25. Options with an exercise price of $33.25 or more were cancelled in the Merger and are not shown on Table II of this Report.
The performance share units convert into common stock on a one-for-one basis.
Not applicable.
Stock Equiv. Units ("SEUs") acquired and held pursuant to the Pactiv Corp. Deferred Comp Plan are payable in cash or stock upon the holder's death, termination of employment or service as a director, or at the time specified in the holder's Deferral Election and convert into common stock on a one-for-one basis. Disposition of SEUs pursuant to the Merger in accordance with the Agreement was made in a lump sum cash payment in accordance with the terms and conditions set forth in the Deferred Comp Plan.