3 1 ch325054.txt FORM 3 FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION _____________________ WASHINGTON, D.C. 20549 | OMB APPROVAL | |---------------------| INITIAL STATEMENT OF |OMB NUMBER: 3235-0104| BENEFICIAL OWNERSHIP OF SECURITIES |EXPIRES: | | JANUARY 31, 2005 | Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE | Securities Exchange Act of 1934, |BURDEN HOURS | Section 17(a) of the Public Utility |PER RESPONSE..... 0.5| Holding Company Act of 1935 |_____________________| or Section 30(f) of the Investment Company Act of 1940 ------------------------------------------------------------------------------- 1. Name and Address of Reporting Person Ivex Packaging Corporation ----------------------------------------------------------------------- (Last) (First) (Middle) 100 Tri-State Drive, Suite 200 ----------------------------------------------------------------------- (Street) Lincolnshire Illinois 60069 ----------------------------------------------------------------------- (City) (State) (Zip) ------------------------------------------------------------------------------- 2. Date of Event Requiring Statement (Month/Day/Year) 5/30/02 ------------------------------------------------------------------------------- 3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary) ------------------------------------------------------------------------------- 4. Issuer Name and Ticker or Trading Symbol Packaging Dynamics Corporation ------------------------------------------------------------------------------- 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) [ ] Director [ X] 10% Owner [ ] Officer (give title below) [ ] Other (specify title below) ------------------------------------------------------------------------------- 6. If Amendment, Date of Original (Month/Day/Year) ------------------------------------------------------------------------------- 7. 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|2. Amount of |3. Ownership |4. Nature of | | (Instr. 4) | Securities | Form: Direct| Indirect | | | Beneficially| (D) or | Beneficial | | | Owned | Indirect (I)| Ownership | | | (Instr. 4) | (Instr. 5) | (Instr. 5) | |--------------------|---------------|---------------|--------------------| --------------------------------------------------------------------------- [TYPE ENTRIES HERE] | | | | | | | | --------------------------------------------------------------------------- Common Stock | 100 | I | By IPMC, Inc. | | | | | --------------------------------------------------------------------------- | | | | | | | | --------------------------------------------------------------------------- =============================================================================== 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) ------------------- ------------------ Date Exercisable Expiration Date ------------------------------------------------------------------------------- 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) ---------------------------------- ------------------------ Title Amount or Number of Shares ------------------------------------------------------------------------------- 4. Conversion or Exercise Price of Derivative Security ------------------------------------------------------------------------------- 5. Ownership Form of Derivative Security: Direct(D) or Indirect(I) (Instr. 5) ------------------------------------------------------------------------------- 6. Nature of Indirect Beneficial Ownership (Instr. 5) =============================================================================== EXPLANATION OF RESPONSES: /s/ G. Douglas Patterson 5/30/02 ----------------------------------- ------------------ Name: G. Douglas Patterson Title: Vice President and General Counsel ** SIGNATURE OF REPORTING PERSON DATE --------------- ** 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. POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB NUMBER. ===========================================================================