FORM 5
U.S. SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
ANNUAL STATEMENT OF |_____________________|
CHANGES IN BENEFICIAL OWNERSHIP |OMB NUMBER: 3235-0362|
|EXPIRES: |
| DECEMBER 31, 2001 |
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......1.0|
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
Bayly George V.
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(Last) (First) (Middle)
100 Tri-State Drive Suite 200
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(Street)
Lincolnshire IL 60069
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(City) (State) (Zip)
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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, if an entity
(Voluntary)
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4. Statement of Month/Year
1999
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5. If amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_X_ Director ___ 10% Owner
_X_ Officer (give title below) ___ Other (specify below)
Chairman of the Board, President and Chief Executive Officer
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7. Individual or Joint/Group Reporting (check applicable line)
_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)
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2. Transaction Date (Month/Day/Year)
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3. Transaction Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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Amount (A) or (D) Price
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5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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[TYPE ENTRIES HERE]
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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)
Employee Stock Option (right to buy)
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2. Conversion of Exercise Price of Derivative Security
$23.25
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3. Transaction Date (Month/Day/Year)
1/7/99
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4. Transaction Code (Instr. 8)
A
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
40,000
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(A) (D)
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6. Date Exercisable and Expiration Date (Month/Day/Year)
(1)See Explanation 12/31/08
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Date Exercisable Expiration Date
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7. Title and Amount of Underlying Securities (Instr. 3 and 4)
Common Stock 40,000
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Title Amount or Number of Shares
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8. Price of Derivative Security (Instr. 4)
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9. Number of Derivative Securities Beneficially Owned at End of Year
(Instr. 4)
457,856
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10. Ownership of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
D
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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[TYPE ENTRIES HERE]
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EXPLANATION OF RESPONSES:
(1) The option vests in three equal annual installments beginning on
12/31/99.
/s/ George V. Bayly February 10, 2000
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** SIGNATURE OF REPORTING PERSON DATE
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** 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 provided is insufficient, see Instruction 6 for
procedure.
Potential persons who are to respond to the collection of information
contained in this form are nor required to respond unless the form
displays a currently valid OMB number.
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