Edgar Filing: MONAHAN PIERRE

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

MONAHAN PIERRE

2. Issuer Name and Ticker or Trading Symbol
BOWATER INC [BOW]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
EVP - Building Products

(Last)

(First)

(Middle)

55 EAST CAMPERDOWN WAY

3. Date of Earliest Transaction (Month/Day/Year)
10/29/2007

(Street)

GREENVILLE, SC 29601

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Restricted Stock Units

$ 27.87

10/29/2007

11,327

⁽¹⁾

01/30/2017

Common Stock

11,327

⁽²⁾

Restricted Stock Units

$ 26.35

10/29/2007

9,761

01/01/2008

05/10/2016

Common Stock

9,761

⁽²⁾

Restricted Stock Units

⁽³⁾

10/29/2007

1,720

01/24/2009

05/10/2016

Common Stock

1,720

⁽²⁾

Restricted Stock Units

⁽³⁾

10/29/2007

1,720

⁽⁴⁾

05/10/2016

Common Stock

1,720

⁽²⁾

Stock Options (right to buy)

$ 27.87

10/29/2007

6,057

⁽⁵⁾

01/30/2017

Common Stock

6,057

⁽⁶⁾

Stock Options (right to buy)

$ 26.35

10/29/2007

6,640

01/24/2009

05/10/2016

Common Stock

10,000

⁽⁶⁾

Stock Options (right to buy)

$ 37.295

10/29/2007

25,000

01/25/2006

01/25/2015

Common Stock

25,000

⁽⁶⁾

Stock Options (right to buy)

$ 45.02

10/29/2007

25,000

01/27/2005

01/27/2014

Common Stock

25,000

⁽⁶⁾

Stock Options (right to buy)

$ 40.74

10/29/2007

25,000

01/28/2004

01/28/2013

Common Stock

25,000

⁽⁶⁾

Stock Options (right to buy)

$ 47.025

10/29/2007

25,000

01/29/2003

01/29/2012

Common Stock

25,000

⁽⁶⁾

Stock Options (right to buy)

$ 42.07

10/29/2007

50,000

09/25/2002

09/25/2011

Common Stock

50,000

⁽⁶⁾

Exchangeable Shares

⁽⁷⁾

10/29/2007

2,306

⁽⁷⁾

Common Stock

2,306

⁽⁷⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
MONAHAN PIERRE 55 EAST CAMPERDOWN WAY GREENVILLE, SC 29601			EVP - Building Products

Signatures

/s/ Pierre Monahan		10/31/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	These Restricted Stock Units vest in three equal annual installments beginning January 30, 2007.
(2)	Assumed by AbitibiBowater in the combination of Bowater Incorporated and Abitibi-Consolidated Inc. (the "Combination"), effected on October 29, 2007, and replaced with restricted stock units representing a contingent right to receive an amount of AbitibiBowater common stock equal to the number of shares of Bowater common stock subject to the Restricted Stock Units multiplied by 0.52. AbitibiBowater common stock had a market value of $36.77 per share on the effective date of the Combination.
(3)	Each Restricted Stock Unit represents a contingent right to receive one share of Bowater common stock.
(4)	These Restricted Stock Units vest January 24, 2009 or in the event of involuntary termination without cause. If Bowater has cumulative positive earnings per share during the three-year period beginning January 1, 2006 and ending December 31, 2008, the total awards will vest. If Bowater has positive earnings per share for any one calendar year during the three-year period, one-third of the respective award will vest for each such year.
(5)	These Stock Options vest in three equal annual installments beginning January 30, 2007.
(6)	Assumed by AbitibiBowater in the Combination and replaced with stock options to purchase an amount of AbitibiBowater common stock equal to the number of shares of Bowater common stock subject to the Stock Options multiplied by 0.52. The exercise price of the replacement stock options is determined by dividing the existing exercise price by 0.52.
(7)	Assumed by AbitibiBowater in the Combination, each Exchangeable Share is replaced with 0.52 of a non-voting exchangeable share representing a contingent right to receive a share of AbitibiBowater common stock. Each Exchangeable Share is currently exchangeable (on a 1-for-1 basis) at the option of the holder into Bowater common stock.

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