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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	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* Brickhouse Frasier W II (Last) (First) (Middle) 1100 BOULDERS PARKWAY (Street) RICHMOND VA 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) Director 10% Owner X Officer (give title below) Other (specify below) Treasurer and Controller
	3. Date of Earliest Transaction (Month/Day/Year) 12/21/2020
	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
	Rule 10b5-1(c) Transaction Indication Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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)
			Code	V	Amount	(A) or (D)	Price
Tredegar Common Stock								18,232(1)	D
Tredegar Common Stock								3,104	I	401(k) Plan(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)(3)	$10.75(4)	12/21/2020		J		5,941		03/18/2022	03/18/2027	Common Stock	5,941	$0	5,941	D
Stock Option (right to buy)(3)	$19.64(5)	12/21/2020		J		1,900		12/21/2020	02/21/2023	Common Stock	1,900	$0	1,900	D
Stock Option (right to buy)(3)	$17.29(6)	12/21/2020		J		2,020		12/21/2020	03/28/2024	Common Stock	2,020	$0	2,020	D
Stock Appreciation Right(7)	$15.25	12/21/2020		A		499		03/18/2022	03/18/2027	Common Stock	499	$0	499	D
Stock Appreciation Right(7)	$15.25	12/21/2020		A		683		12/21/2020	02/21/2023	Common Stock	683	$0	683	D
Stock Appreciation Right(7)	$15.25	12/21/2020		A		760		12/21/2020	03/28/2024	Common Stock	760	$0	760	D

Explanation of Responses:

1. In a review of the Issuer's records, the Issuer determined that the Form 4 to report the grant of stock appreciation rights made by the Executive Compensation Committee (the "Committee") of the Board of Directors to compensate holders for the loss in value of the stock options to which the stock appreciation rights relate as a result of the Special Dividend (as defined below) was inadvertently missed. This Form 4 is being filed to report the grant of such stock appreciation rights and reflects share ownership as of December 21, 2020.

2. Shares as reported by the Tredegar Corporation Retirement Savings Plan trustee as of December 21, 2020.

3. On December 18, 2020, the Issuer paid a special dividend of $5.97 per share to all holders of its common stock as of the close of business on December 11, 2020 (the "Special Dividend"). In connection with the Special Dividend, the Committee approved adjustments to the exercise price and/or number of shares subject to all unexercised stock options to account for the effect of the Special Dividend.

4. The original grant was for 4,430 shares with an exercise price of $14.41 per share.

5. The original grant was for 1,900 shares with an exercise price of $24.84 per share.

6. The original grant was for 2,020 shares with an exercise price of $22.49 per share.

7. Reflects a grant of stock appreciation rights made by the Committee to compensate holders for the loss in value of the stock options to which the stock appreciation rights relate as a result of the Special Dividend.

	Frasier W. Brickhouse, II	05/01/2024
	** 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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