Sec Form 4 Filing - PEARCE RON L @ DELTIC TIMBER CORP - 2003-07-07

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person PEARCE RON L 2. Issuer Name and Ticker or Trading Symbol DELTIC TIMBER CORP [ DEL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) X __ Other (specify below) Director/President & CEO (Last) (First) (Middle) , 3. Date of Earliest Transaction (MM/DD/YY) 07/07/2003 (Street) , 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 Common Stock 08/08/1988( 5 ) J( 5 ) 49( 6 ) A $ 0 590 I By Trustee of Co. Thrift Plan.( 7 ) Common Stock( 2 ) 08/08/1988( 5 ) J( 5 ) 0( 5 ) A $ 0 14,000 I By Trustee( 8 ) Common Stock( 2 ) 08/08/1988( 5 ) J( 5 ) 0( 5 ) A $ 0 14,931 D

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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( 1 )( 2 ) $ 23.1875 01/22/1997 A 4,312 01/22/1999 01/22/2007 Common Stock 4,312 $ 0 4,312 D Stock Option( 1 )( 2 ) $ 23.1875 01/22/1997 A 4,312 01/22/2000 01/22/2007 Common Stock 4,312 $ 0 8,624 D Stock Option( 1 )( 2 ) $ 23.1875 01/22/1997 A 2,563 01/22/1999 01/22/2007 Common Stock 2,563 $ 0 11,187 D Stock Option( 1 )( 2 ) $ 23.1875 01/22/1997 A 2,563 01/22/2000 01/22/2007 Common Stock 2,563 $ 0 13,750 D Stock Option( 1 )( 2 ) $ 25.25 04/21/1997 A 4,530 04/21/1999 04/21/2007 Common Stock 4,530 $ 0 18,280 D Stock Option( 1 )( 2 ) $ 25.25 04/21/1997 A 4,529 04/21/2000 04/21/2007 Common Stock 4,529 $ 0 22,809 D Stock Option( 1 )( 2 ) $ 28.03 02/18/1998 A 6,000 02/18/1999 02/18/2008 Common Stock 6,000 $ 0 28,809 D Stock Option( 1 )( 2 ) $ 28.03 02/18/1998 A 2,433 02/18/2001 02/18/2008 Common Stock 2,433 $ 0 31,242 D Stock Option( 1 )( 2 ) $ 28.03 02/18/1998 A 3,567 02/18/2001 02/18/2008 Common Stock 3,567 $ 0 34,809 D Stock Option( 1 )( 2 ) $ 24.97 02/17/1999 A 8,750 02/17/2000 02/17/2009 Common Stock 8,750 $ 0 43,559 D Stock Option( 1 )( 2 ) $ 24.97 02/17/1999 A 4,004 02/17/2002 02/17/2009 Common Stock 4,004 $ 0 47,563 D Stock Option( 1 )( 2 ) $ 24.97 02/17/1999 A 4,746 02/17/2002 02/17/2009 Common Stock 4,746 $ 0 52,309 D Stock Option( 1 )( 2 ) $ 22.0625 02/16/2000 A 8,250 02/16/2001 02/16/2010 Common Stock 8,250 $ 0 60,559 D Stock Option( 1 )( 2 ) $ 22.0625 02/16/2000 A 8,250 02/16/2003 02/16/2010 Common Stock 8,250 $ 0 68,809 D Stock Option( 1 )( 2 ) $ 23.875 02/15/2001 A 12,500 02/15/2002 02/15/2011 Common Stock 12,500 $ 0 81,309 D Stock Option( 1 )( 2 ) $ 23.875 02/20/2003 A 12,500 02/20/2003 02/15/2011 Common Stock 12,500 $ 0 93,809 D Stock Option( 2 )( 3 ) $ 29.295 04/25/2002 A 12,500 02/20/2003 02/20/2012 Common Stock 12,500 $ 0 106,309 D Stock Option( 2 )( 3 )( 4 ) $ 29.295 02/20/2003 A 12,500 02/20/2003 02/20/2012 Common Stock 12,500 $ 0 118,809 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other PEARCE RON L , X Director President & CEO Signatures Ron L. Pearce 07/07/2003 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Options under 1996 Stock Incentive Plan. ( 2 )Previously reported. ( 3 )Options under 2002 SIP. ( 4 )Report is being filed in order to note reporting person's termination of insider status as of 7/1/2003. ( 5 )Inapplicable required fields contain "dummy" entries per SEC telephone guide. ( 6 )"Dummy" price entry per SEC telephone guide. ( 7 )Latest available thrift account information is as of 7/01/2003. ( 8 )Self-directed IRA.

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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