SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES 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
or Section 30(h) of the Investment Company Act of 1940

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

1. Name and Address of Reporting Person^*

SCHER NORMAN A

(Last)

(First)

(Middle)

TREDEGAR CORPORATION

1100 BOULDERS PARKWAY

(Street)

RICHMOND

23225

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
TREDEGAR CORP [ TG ]

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2007

4. If Amendment, Date of 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

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)
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)
Tredegar Common Stock	02/23/2007		M		17,955	A	$16.55	95,135	D
Tredegar Common Stock	02/23/2007		M		11,745	A	$21	106,880	D
Tredegar Common Stock	02/23/2007		S		17,900	D	$23.75	88,980	D
Tredegar Common Stock	02/23/2007		S		1,700	D	$23.755	87,280	D
Tredegar Common Stock	02/23/2007		S		5,300	D	$23.76	81,980	D
Tredegar Common Stock	02/23/2007		S		2,600	D	$24.05	79,380	D
Tredegar Common Stock	02/23/2007		S		100	D	$24.07	79,280	D
Tredegar Common Stock	02/23/2007		S		100	D	$24.14	79,180	D
Tredegar Common Stock	02/23/2007		S		2,000	D	$24.15	77,180	D
Tredegar Common Stock	02/26/2007		M		12,255	A	$21	89,435	D
Tredegar Common Stock	02/26/2007		M		6,045	A	$16.55	95,480	D
Tredegar Common Stock	02/26/2007		S		10,100	D	$23.75	85,380	D
Tredegar Common Stock	02/26/2007		S		500	D	$23.76	84,880	D
Tredegar Common Stock	02/26/2007		S		6,900	D	$23.77	77,980	D
Tredegar Common Stock	02/26/2007		S		200	D	$23.78	77,780	D
Tredegar Common Stock	02/26/2007		S		600	D	$23.81	77,180	D
Tredegar Common Stock								91,374⁽¹⁾	I	401(k) Plan

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$16.55	02/23/2007		M			17,955	05/19/1998	05/19/2007	Common Stock	17,955	$0	65,045⁽²⁾	D
Stock Option (Right to Buy)	$21	02/23/2007		M			11,745	05/19/1998	05/19/2007	Common Stock	11,745	$0	53,300⁽²⁾	D
Stock Option (Right to Buy)	$16.55	02/26/2007		M			6,045	05/19/1998	05/19/2007	Common Stock	6,045	$0	47,255⁽²⁾	D
Stock Option (Right to Buy)	$21	02/26/2007		M			12,255	05/19/1998	05/19/2007	Common Stock	12,255	$0	35,000⁽²⁾	D

Explanation of Responses:

1. Equivalent shares as reported by the Tredegar Corporation Retirement Savings Plan (the "Savings Plan") trustee. The Savings Plan maintains its records through unit accounting and not share accounting. Therefore, the number of equivalent shares can fluctuate up or down depending upon the unit value within the trust solely as a result of a change in the fair market value of Tredegar stock even if the employee takes no action in the Savings Plan. The amount reported includes units acquired in exempt transactions under Rule 16b-3 pursuant to the Savings Plan during the period from December 1, 2006 through February 23, 2007.

2. Total number includes stock options with varying exercisable dates, expiration dates and conversion prices.

Remarks:

	Patricia A. Thomas, Attorney-In-Fact	02/27/2007
	** Signature of Reporting Person	Date
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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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