SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

WEISS GARY L

(Last)

(First)

(Middle)

C/O AMERICAN GREETINGS CORP

ONE AMERICAN ROAD

(Street)

CLEVELAND

44144

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/04/2006

3. Issuer Name and Ticker or Trading Symbol
AMERICAN GREETINGS CORP [ AM ]

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

Director	X	10% Owner
Officer (give title below)	X	Other (specify below)
		Employee - Non-Executive Ofcr.

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class B Common Stock	11,175	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Non-Qualified Stock Opiton (right to buy)	⁽¹⁾	01/27/2007	Class B Common Stock	31,250	$29.5	I	By Trust
Non-Qualified Stock Option (right to buy)	⁽²⁾	01/27/2007	Class A Common Stock	4,000	$29.5	D
Non-Qualified Stock Option (right to buy)	⁽³⁾	03/30/2008	Class A Commom Stock	4,500	$46.8125	D
Non-Qualified Stock Option (right to buy)	⁽⁴⁾	03/01/2009	Class A Common Stock	21,000	$23.5625	D
Non-Qualified Stock Option (right to buy)	⁽⁵⁾	05/03/2014	Class A Common stock	3,500	$20.51	D
Non-Qualified Stock Option (right to buy)	⁽⁶⁾	05/16/2015	Class A Common Stock	7,000	$24.73	D
Non-Qualified Stock Option (right to buy)	⁽⁷⁾	05/15/2016	Class A Common Stock	7,000	$22.65	D
Non-Qualified stock Option (right to buy)	01/27/1998	01/27/2007	Class B Common Stock	12,000	$29.5	I	By Trust
Right to Acquire Indirect Interest	⁽⁸⁾	⁽⁸⁾	Class B Common Stock	445,454	⁽⁹⁾	I	By LLC

Explanation of Responses:

1. The Option became exercisable with respect to 7,813 shares on the 27th day of each of January 1998 and 1999, and with respect to 7,812 shares on the 27th day of each of January 2000 and 2001.

2. The Option became exercisable with respect to 1,000 shares on the 27th day of each of January 1999 and 2000, and with respect to 2,000 shares on the 27th day of January, 2001.

3. The Option became exercisable with respect to 1,500 shares on the 30th day of each of March 1999, 2000 and 2001.

4. The Option became exercisable with respect to 3,500 shares on the 1st day of each of March 2000 and 2001, and with respect to 7,000 shares on the 1st day of each of March 2002 and 2003.

5. The Option became exercisable with respect to 3,500 shares on the 3rd day of May 2006.

6. The Option became exercisable with respect to 3,500 shares on the 16th day of May 2006, with the balance to become exercisable on the 16th day of May 2007.

7. The Option will become exercisable with respect to 3,500 shares on the 15th day of each of May 2007 and 2008.

8. On August 4, 2006, the Reporting Person acquired the right to purchase membership interests in the Irving I. Stone Limited Liability Company (the "LLC") on or before August 11, 2006, which represents 24.5% of the equity in the LLC. As a result of such acquisition, the Reporting Person may be deemed to have an indirect beneficial ownership interest in 445,454 of the 1,818,182 Class B common shares owned by the LLC.

9. Not applicable.

	Catherine M. Kilbane, Power of Attorney for Gary Weiss	08/11/2006
	** 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 5 (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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