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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
1202549	D Larry Neilson	999 Third Avenue, Suite. 4300 Seattle WA 98104-4096	Svp, Business Development	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
Common Stock	Acquisiton	2011-02-07	3,500	$0.00	25,599	No	4	A	Direct
Common Stock	Acquisiton	2011-02-08	5,000	$22.21	30,599	No	4	M	Direct
Common Stock	Disposition	2011-02-08	5,000	$42.00	25,599	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	A	Direct
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 (2011 SIP)	Acquisiton	2011-02-07	16,000	$0.00	16,000	$41.55
Common Stock	Stock Option (2002 SIP)	Disposition	2011-02-08	5,000	$0.00	5,000	$22.21

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
16,000		2021-02-07	No	4	A	Direct
0		2012-10-15	No	4	M	Direct

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Option (2003 SIP)	$21.91	2013-01-28	5,000	5,000	Direct
Common Stock	Stock Option (2004 SIP)	$30.91	2014-02-02	9,000	9,000	Direct
Common Stock	Stock Option (2005 SIP)	$37.49	2015-02-09	9,000	9,000	Direct
Common Stock	Stock Option (2006 SIP)	$35.74	2016-02-03	12,000	12,000	Direct
Common Stock	Stock Option (2007 SIP)	$40.42	2017-02-05	15,000	15,000	Direct
Common Stock	Stock Option (2008 SIP)	$42.98	2018-02-04	15,000	15,000	Direct
Common Stock	Stock Option (2009 SIP)	$33.75	2019-02-09	16,000	16,000	Direct
Common Stock	Stock Option (2010 SIP)	$35.22	2020-02-08	16,000	16,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2013-01-28	5,000	5,000	Direct
2014-02-02	9,000	9,000	Direct
2015-02-09	9,000	9,000	Direct
2016-02-03	12,000	12,000	Direct
2017-02-05	15,000	15,000	Direct
2018-02-04	15,000	15,000	Direct
2019-02-09	16,000	16,000	Direct
2020-02-08	16,000	16,000	Direct

Footnotes

Represents Restricted Stock Units (RSUs) granted under the Plum Creek Stock Incentive Plan. The RSUs vest annually over a four-year period in equal installments. Upon vesting, the RSUs are paid to the Reporting Person in an equal number of shares of the Issuer's common stock. During the vesting period, the Reporting Person is entitled to receive cash payments equal to the amount of any dividend declared and paid on the Issuers's common stock multiplied by the number of RSUs then held by the Reporting Person.
The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on 2/3/2011.
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.