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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
849213	Plum Creek Timber Co Inc	PCL	Real Estate Investment Trusts (6798)	911912863

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1202552	M Thomas Reed	999 Third Avenue., Suite 4300 Seattle WA 98104	Vp Southern Resources	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	Acquisiton	2012-11-14	800	$21.91	30,154	No	4	M	Direct
Common Stock	Disposition	2012-11-14	800	$42.12	29,354	No	4	S	Direct

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

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option (2003 SIP)	Disposition	2012-11-14	800	$0.00	800	$21.91

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
4,200		2013-01-28	No	4	M	Direct

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Option (2004 SIP)	$30.91	2014-02-02	5,500	5,500	Direct
Common Stock	Stock Option (2005 SIP)	$37.49	2015-02-09	5,500	5,500	Direct
Common Stock	Stock Option (2006 SIP)	$35.74	2016-02-03	6,000	6,000	Direct
Common Stock	Stock Option (2007 SIP)	$40.42	2017-02-05	8,000	8,000	Direct
Common Stock	Stock Option (2008 SIP)	$42.98	2018-02-04	12,000	12,000	Direct
Common Stock	Stock Option (2009 SIP)	$33.75	2019-02-09	12,000	12,000	Direct
Common Stock	Stock Option (2010 SIP)	$35.22	2020-02-08	15,000	15,000	Direct
Common Stock	Stock Option (2011 SIP)	$41.55	2021-02-07	15,000	15,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2014-02-02	5,500	5,500	Direct
2015-02-09	5,500	5,500	Direct
2016-02-03	6,000	6,000	Direct
2017-02-05	8,000	8,000	Direct
2018-02-04	12,000	12,000	Direct
2019-02-09	12,000	12,000	Direct
2020-02-08	15,000	15,000	Direct
2021-02-07	15,000	15,000	Direct

Footnotes

Includes shares of common stock acquired since the Reporting Person's last filing on Form 4 in transactions exempt from Section 16 of the Securities Exchange Act of 1934, as amended.
The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on 11/9/2012.
The sales of common stock reported in this Form 4 were executed through several individual broker transactions and are being disclosed in Table I on an aggregated basis. All sale transactions occurred within a one dollar price range and the reported sale price of $42.1163 represents the weighted average sale price for the aggregated sale transactions reported herein. The range of sale prices for the sale of 800 shares was $42.02 to $42.31. The Reporting Person hereby undertakes to provide the SEC Staff, the Issuer or any security holder of the Issuer with full information regarding the number of shares of common stock sold by the Reporting Person at each separate price upon request.
The option granted under the Plum Creek Stock Incentive Plan provides the right to purchase common stock at the fair market value thereof on the date of grant and becomes exercisable after vesting. The option vests in four equal annual installments beginning one year after the date of grant.