Edgar Filing: MOD PAC CORP

DANIEL G. KEANE FORM 4

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FORM 4

U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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 of Section 30(f) of the Investment Company Act of 1940

1. Name and address of Reporting Person*

KEANE DANIEL G.

2. Issuer Name and Ticker or Trading Symbol

MOD-PAC CORP. (MPAC)

6. Relationship of Reporting Person to Issuer
     (Check all applicable)
[ X ] Director               [   ] 10% Owner
  [ X ] Officer (give           [   ] Other (specify
           title below)                 below)

President

(Last) (First) (Middle)

1801 Elmwood Avenue

3. I.R.S. Identification
     Number of Reporting
     Person, if an Entity
     (Voluntary)

4. Statement for Month/Day/Year

March 19, 2003

(Street)

Buffalo, NY 14207

5. If Amendment, Date of Original (Month/Day/Year)

7. Individual or Joint/Group Filing
     (Check applicable box)
[X ] Form filed by One Reporting Person
[    ] Form filed by More than One Reporting
       person

(City) (State) (Zip)

Table 1 - 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 Transactions (Instr. 3 and 4)	6.Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date Month/Day/ Year)	2A. Deemed Execution Date, if any (Month/Day/ Year)	Code	V	Amount	(A) or (D)	Price		6.Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
$01 Par Value Common Stock			J(1)		(2000)	D		1334	D
$01 Par Value Class B Stock								14857	D
$01 Par Value Common Stock			J(1)		2000	A			I	*By Spouse

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v).

Potential Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Form 4 (continued) 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.Conver-sion or
Exercise
Price of
Deri-
vative
Security

3.Trans-action
Date

(Month/
Day/
Year)

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

4.Trans-action
Code
(Instr.8)

5. Number
of Derivative Securities Ac-
quired (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
Deriv-
ative
Secur-
ity
(Instr. 5)

9.Number
of deriv-
Secur-
ities
Bene-
ficially
Owned Follow-
ing
Reported
Trans-
action(s)
(Instr. 4)

10.Owner-ship
Form of Deriv-
ative
Security
Direct
(D) or
Indirect (I)
(Instr. 4)

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

Code

(A)

(D)

Date Exer-
cisable

Expira-
tion
Date

Title

Amount or
Number of Shares

Option

$.896

03/18/03

J(2)

3248

12/20/95

12/20/04

$01 PV Com Stk

3248

Option

$.896

03/18/03

J(2)

1218

12/20/95

12/20/04

$.01 PV CL B Stk

1218

Option

$1.567

03/18/03

J(2)

6495

12/28/96

12/28/05

$01 PV Com Stk

6495

Option

$1.567

03/18/03

J(2)

2435

12/28/96

12/28/05

$.01 PV CL B Stk

2435

Option

$2.729

03/18/03

J(2)

6495

12/20/97

12/20/06

$01 PV Com Stk

6495

Option

$2.729

03/18/03

J(2)

2435

12/20/97

12/20/06

$.01 PV CL B Stk

2435

Option

$5.428

03/18/03

J(2)

9920

01/18/00

01/18/09

$01 PV Com Stk

9920

Option

$5.428

03/18/03

J(2)

3720

01/18/00

01/18/09

$.01 PV CL B Stk

3720

Option

$6.466

03/18/03

J(2)

9566

01/18/01

01/18/10

$01 PV Com Stk

9566

Option

$6.466

03/18/03

J(2)

3587

01/18/01

01/18/10

$.01 PV CL B Stk

3587

Option

$12.905

03/18/03

J(2)

9448

04/26/02

04/26/11

$01 PV Com Stk

9448

Option

$12.905

03/18/03

J(2)

2362

04/26/02

04/26/11

$.01 PV CL B Stk

2362

Option

$10.754

03/18/03

J(2)

10747

01/25/03

01/25/12

$01 PV Com Stk

10747

Option

$5.606

03/18/03

J(2)

30705

12/24/03

01/24/13

$01 PV Com Stk

30705

Explanation of Responses:

* Mr. Keane disclaims any beneficial interest in the shares held by his wife.

1) Correction of shares reported as directly owned by Mr. Keane, which are actually owned by his wife.

2) Substitution option as a result of MOD-PAC CORP. Spin-off.

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C/ 78ff(a).	/s/ C. Anthony Rider, as Power of Attorney for DANIEL G. KEANE	March 19, 2003
	**Signature of Reporting Person	Date

	C. Anthony Rider, as Power of Attorney for DANIEL G. KEANE
Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.
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