Sec Form 4 Filing - OConnor William K @ Neenah Paper Inc - 2007-02-07

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 OConnor William K 2. Issuer Name and Ticker or Trading Symbol Neenah Paper Inc [ NP] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Sr. V.P., President Fine Paper (Last) (First) (Middle) 3460 PRESTON RIDGE ROAD 3. Date of Earliest Transaction (MM/DD/YY) 02/07/2007 (Street) ALPHARETTA, GA30005 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

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 Performance Share Unit ( 1 ) 02/07/2007 A 2,200 ( 2 ) 12/31/2009 ( 3 ) Common stock 2,200 ( 2 ) $ 0 2,200 D Stock Option (Right to Buy) $ 36.15 02/07/2007 A 2,950 ( 4 ) 02/06/2017 Common stock 2,950 $ 0 2,950 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other OConnor William K 3460 PRESTON RIDGE ROAD ALPHARETTA, GA30005 Sr. V.P., President Fine Paper Signatures /s/ Steven S. Heinrichs, Power of Attorney 02/08/2007 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The units are convertible to common stock on a one-for-one basis. ( 2 )The number of units granted is subject to adjustment based upon the attainment of certain performance criteria on December 31, 2007. ( 3 )The units do not have an expiration date. ( 4 )The stock options vest in increments of one third on each of 2/7/2008, 2/7/2009, 2/7/2010

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).

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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