FORM 4
( ) Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations may continue.
See Instruction 1(b).
U.S. SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |_____________________|
|OMB NUMBER: 3235-0287|
|EXPIRES: |
| SEPTEMBER 30, 1998 |
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
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1. Name and Address of Reporting Person
George V. Bayly
100 Tri-State Drive, Suite 200
Lincolnshire, IL 60069
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2. Issuer Name and Ticker or Trading Symbol
Ivex Packaging Corporation/IXX
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3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
___________________________________________________________________________
4. Statement for Month/Year
May/1998
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5. If Amendment, Date of Original (Month/Year)
___________________________________________________________________________
6. Relationship of reporting person to Issuer (Check all applicable)
( X ) DIRECTOR
( ) 10% OWNER
( X ) OFFICER (GIVE TITLE BELOW)
( ) OTHER (SPECIFY TITLE BELOW)
Chairman of the Board, President and Chief Executive Officer
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7. Individual, or Joint/Group Filing (Check all applicable)
( X ) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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TABLE I
Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. Title of Security (Instr. 3)
Common Stock
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2. Transaction Date (Month/Day/Year)
5/20/98
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3. Transaction Code (Instr. 8)
J
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)
251,985 disposed of at $24.00 per share.
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5. Amount of Securities Beneficially Owned at End of Month (Instr. 3 and 4)
897,445
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6. Ownership Form: Direct(D) or Indirect(I) (Instr. 4)
D
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
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TABLE II
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., Puts, Calls, Warrants, Options, Convertible securities)
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1. Title of Derivative Security (Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
___________________________________________________________________________
3. Transaction Date (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 Underlying Securities (Instr. 3 and 4)
___________________________________________________________________________
8. Price of Derivative Securities (Instr. 5)
___________________________________________________________________________
9. Number of Derivative Securities Beneficially Owned at End of Month
(Instr. 4)
___________________________________________________________________________
10. Ownership Form of Derivative Security: Direct(D) or Indirect(I)
(Instr. 4)
___________________________________________________________________________
11. Nature of Indirect Beneficial Ownership (Instr. 4)
___________________________________________________________________________
EXPLANATION OF RESPONSES: Securities sold pursuant to an underwritten
public offering.
/s/ George V. Bayly 6/5/98
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** 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).
