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^*

HOOVER R DAVID

(Last)

(First)

(Middle)

10 LONGS PEAK DR.

(Street)

BROOMFIELD

80021-2510

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BALL CORP [ BLL ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairman, President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/22/2006

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)
Common Stock								511,120	D
Common Stock								2,836	I	401(k) plan
Common Stock	09/22/2006⁽¹⁾		J⁽¹⁾		69,299⁽¹⁾	D	⁽¹⁾	250,225	I	by trust⁽²⁾

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)
Prepaid Variable Forward Contract	⁽¹⁾	09/22/2006		J⁽¹⁾			80,000⁽¹⁾	⁽¹⁾	09/22/2006	Common Stock	80,000⁽¹⁾	⁽¹⁾	0	I	by trust⁽²⁾

Explanation of Responses:

1. On 9-23-03, the Suzanne A. Hoover Revocable Trust of 1-30-97 as amended and restated 7-11-03 finalized a prepaid variable forward contract (Contract) with a broker dealer (Buyer) relating to its disposition of between 33,333 and 40,000 shares of Ball Common Stock (Ball Shares). The Contract obligated the Trust to deliver to the Buyer on 9-22-06 (Settlement Date), a number of Ball Shares equal to $2,161,600 (40,000 Ball Shares @ 54.04 each). In exchange, the Trust received 83.99% of $2,161,600. The Contract provided, based on the price of Ball Shares on Settlement Date, that the Trust could receive 120% of the 54.04 per share (Floor Price) up to a maximum of 64.848 per share. This transaction was disclosed on a Form 4 filing with the SEC on 9-23-03 (pre- 8-23-04 stock split). The Contract matured on 9-22-06 and was settled in accordance with its terms through delivery by the Trust of 69,299 Ball Shares (post-split) to the Buyer.

2. The reporting person expressly disclaims beneficial ownership of these securities. Total number of Common Shares directly owned includes shares acquired through participation in the Ball Corporation Employee Stock Purchase Plan. Total number of 401(k) Plan shares includes shares acquired through periodic dividend reinvestment and employer matching contributions.

	By: Charles E. Baker, VP, GenCouns & AsstCorpSec For: R. David Hoover	09/26/2006
	** 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).
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