UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
FORM 4
[ ] Check this box if no longer OMB APROVAL
subject to Section 16. Form 4 or Form OMB NUMBER: 3235-0287
5 obligations may continue. Expires: September 30, 1998
See Instruction 1(b). Estimated average burden
hours per response........0.5
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(f) of the Investment Company Act of 1940
(Print or Type Responses)
1. Name and Address of Reporting Person*
Stone Roger W.
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(Last) (First) (Middle)
150 North Michigan Avenue
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(Street)
Chicago IL 60601-7568
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Smurfit-Stone Container Corporation; ("SSCC")
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3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
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4. Statement for Month/Year
December, 1998
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5. If Amendment, Date of Original (Month/Day/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
x Director 10% Owner
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x Officer (give title below) Other (specify below)
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President and Chief Executive Officer
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7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
<TABLE>
<CAPTION>
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired 5. Amount of Securities 6. Ownership 7. Nature of
(Instr. 3) action action (A) or Disposed of Beneficially Owned Form: Direct Indirect
Date Code (D) (Instr. 3, 4 at End of Month (D) or In- Beneficial
(Instr.8) and 5) (Instr. 3 and 4) direct (I) Ownership
(Month/ (Instr. 4) (Instr. 4)
Day/ (A) or
Year) Code V Amount (D) Price
- ------------------------- --------- ---- --- ------- --- --------- -------------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
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).
(Over)
SEC 1474 (7-96)
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
1. Title of 2. Conversion or 3. Transaction Date 4. Transaction 5. Number of 6. Date Exercisable and
Derivative Exercise Price (Month/Day/Year) Code Derivative Expiration Date
Security of Derivative (Instr. 8) Securities (Month/Day/Year)
(Instr. 3) Security Acquired (A)
or Disposed of
(D) (Instr. 3,
4 and 5)
Date Expiration
Code V (A) (D) Exercisable Date
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Option to Purchase $12.8125 12/29/98 A*1 250,000 *2 12/29/08
1. Title of 7. Title and Amount of 8. Price of 9. Number of 10. Ownership 11. Nature of
Derivative Underlying Securities Derivative derivative Form of Indirect
Security (Instr. 3 and 4) Security Securities Derivative Beneficial
(Instr. 3) (Instr. 5) Beneficially Security: Ownership
Amount Owned at End Direct (D) (Instr. 4)
or of Month or Indirect
Number (Instr. 4) (I)
of (Instr. 4)
Title Shares
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<S> <C> <C> <C> <C> <C> <C>
Option to Purchase Common Stock 250,000 1,306,035 D
</TABLE>
Explanation of Responses:
*1 Options granted pursuant to Smurfit-Stone Container Corporation 1998
Long Term Incentive Plan.
*2 The option vests on the eighth anniversary of the grant date, subject
to acceleration of up to one-third of the shares in any year in which
certain pre-determined stock price levels are attained.
1-8-99
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**Signature of Reporting Person Date
Craig A. Hunt, Attorney-in-fact for
Roger W. Stone
**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.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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SEC 1474 (7-96)
