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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
1202543	R Rick Holley	999 Third Ave., Ste. 4300 Seattle WA 98104-4096	President & Ceo	Yes	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
Common Stock	Acquisiton	2012-11-14	62,432	$21.91	281,670	No	4	M	Direct
Common Stock	Acquisiton	2012-11-14	12,078	$30.91	293,748	No	4	M	Direct
Common Stock	Disposition	2012-11-14	67,426	$41.68	226,322	No	4	S	Direct
Common Stock	Disposition	2012-11-14	7,084	$42.17	219,238	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	M	Direct
No	4	S	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	62,432	$0.00	62,432	$21.91
Common Stock	Stock Option (2004 SIP)	Disposition	2012-11-14	12,078	$0.00	12,078	$30.91

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2013-01-28	No	4	M	Direct
87,922		2014-02-02	No	4	M	Direct

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Option (2005 SIP)	$37.49	2015-02-09	95,000	95,000	Direct
Common Stock	Stock Option (2006 SIP)	$35.74	2016-02-03	90,000	90,000	Direct
Common Stock	Stock Option (2007 SIP)	$40.42	2017-02-05	100,000	100,000	Direct
Common Stock	Stock Option (2008 SIP)	$42.98	2018-02-04	140,000	140,000	Direct
Common Stock	Stock Option (2009 SIP)	$33.75	2019-02-09	140,000	140,000	Direct
Common Stock	Stock Option (2010 SIP)	$35.22	2020-02-08	140,000	140,000	Direct
Common Stock	Stock Option (2011 SIP)	$41.55	2021-02-07	140,000	140,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2015-02-09	95,000	95,000	Direct
2016-02-03	90,000	90,000	Direct
2017-02-05	100,000	100,000	Direct
2018-02-04	140,000	140,000	Direct
2019-02-09	140,000	140,000	Direct
2020-02-08	140,000	140,000	Direct
2021-02-07	140,000	140,000	Direct

Footnotes

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 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 that occurred within a one dollar price range have been aggregated and reported on a separate line in Table I. The reported sale prices of $41.6808 and $42.1735 each represent the weighted average sale price for the corresonding aggregated sale transactions reported in Table I. The range of sale prices for the reported sale of 67,426 shares was $41.12 to $42.11. The range of sale prices for the reported sale of 7,084 shares was $42.12 to $42.35. 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.