UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
P.H. Glatfelter Company
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
377316104
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(CUSIP Number)
Thomas R. Hudson Jr.
Pirate Capital LLC
200 Connecticut Avenue, 4th Floor
Norwalk, CT 06854
(203) 854-1100
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 20, 2007
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(Date of Event which Requires
Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. |_|
NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 5 Pages)
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* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP NO. 377316104 SCHEDULE 13D PAGE 2 OF 5 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
PIRATE CAPITAL LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
-0-
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,201,877
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
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10 SHARED DISPOSITIVE POWER
2,201,877
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,201,877
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
|_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
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14 TYPE OF REPORTING PERSON*
IA
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* SEE INSTRUCTIONS
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CUSIP NO. 377316104 SCHEDULE 13D PAGE 3 OF 5 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
THOMAS R. HUDSON JR.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
-0-
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,201,877
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,201,877
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,201,877
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
|_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
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14 TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTIONS
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CUSIP NO. 377316104 SCHEDULE 13D PAGE 4 OF 5 PAGES
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The Schedule 13D filed on September 27, 2006 by Pirate Capital LLC, a Delaware
limited liability company ("Pirate Capital"), and Thomas R. Hudson Jr.
(together, the "Reporting Persons"), relating to the shares of common stock,
$0.01 par value (the "Shares"), of P.H. Glatfelter Company (the "Issuer"), is
hereby amended by this Amendment No. 1 to the Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 of the Schedule 13D is hereby amended and restated as follows:
Funds for the purchase of the Shares reported herein were derived from available
capital of the Holders (as defined below). A total of approximately $29,964,446
was paid to acquire such Shares.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Paragraphs (a), (b), (c) and (e) of Item 5 of the Schedule 13D are hereby
amended and restated as follows:
(a) The Reporting Persons beneficially own in the aggregate
2,201,877 Shares, constituting approximately 4.8% of the Shares outstanding.
The aggregate percentage of Shares beneficially owned by the
Reporting Persons is based upon 45,472,226 Shares outstanding, which is the
total number of Shares outstanding as reported by the Issuer in its Annual
Report on Form 10-K filed March 16, 2007.
(b) By virtue of its position as general partner of Jolly Roger Fund
LP, Pirate Capital LLC has the power to vote or direct the voting, and to
dispose or direct the disposition, of all of the 0 Shares held by Jolly Roger
Fund LP. By virtue of agreements with Jolly Roger Offshore Fund LTD and Jolly
Roger Activist Portfolio Company LTD (such funds, together with Jolly Roger Fund
LP, the "Holders"), Pirate Capital LLC has the power to vote or direct the
voting, and to dispose or direct the disposition, of all of the 2,035,584 Shares
and 166,293 Shares held by Jolly Roger Offshore Fund LTD and Jolly Roger
Activist Portfolio Company LTD, respectively. By virtue of his position as sole
Managing Member of Pirate Capital LLC, Thomas R. Hudson Jr. is deemed to have
shared voting power or shared dispositive power with respect to all Shares as to
which Pirate Capital LLC has voting power or dispositive power. Accordingly,
Pirate Capital and Thomas R. Hudson Jr. are deemed to have shared voting and
shared dispositive power with respect to an aggregate of 2,201,877 Shares.
(c) The following sets forth the transactions in the Shares effected
by the Reporting Persons during the last 60 days. The transactions were effected
in the open market.
Jolly Roger Activist Portfolio Company LTD
Trade Date Shares Purchased (Sold) Price per Share ($)
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01/22/2007 (100,000) 15.65
01/23/2007 (85,000) 15.85
01/24/2007 (100,000) 15.96
01/29/2007 (19,090) 16.07
01/30/2007 (5,000) 16.11
03/08/2007 (7,800) 16.00
03/09/2007 (1,194) 16.02
03/13/2007 (200) 16.00
03/19/2007 (17,923) 15.80
03/20/2007 (50,000) 15.73
Jolly Roger Fund LP
Trade Date Shares Purchased (Sold) Price per Share ($)
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02/26/2007 (50,000) 17.88
03/06/2007 (50,000) 16.05
03/07/2007 (20,000) 15.99
03/09/2007 (26,500) 16.02
(e) March 20, 2007
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CUSIP NO. 377316104 SCHEDULE 13D PAGE 5 OF 5 PAGES
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SIGNATURES
After reasonable inquiry and to the best of his or its knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: March 21, 2007
PIRATE CAPITAL LLC
By: /s/ Thomas R. Hudson Jr.
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Name: Thomas R. Hudson Jr.
Title: Managing Member
/s/ Thomas R. Hudson Jr.
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Thomas R. Hudson Jr.