1. Name and Address of Reporting Person
Gilmore, Jerry R.
55 East Camperdown Way
Post Office Box 1028
Greenville, SC 29602-1028
2. Issuer Name and Ticker or Trading Symbol
Bowater Incorporated (BOW)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
2002
5. If Amendment, Date of Original (Month/Day/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner
(X) Officer (give title below) ( ) Other (specify below)
SrVP-Operations, Newsprint Div
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
TABLE I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
+---------------------------------+----------+-------------+-----------------------------+----------------+-----------+------------+
|1. Title of Security |2. Trans- |3. Trans- |4. Securities Acquired (A) |5. Amount of |6. Owner- |7. Nature |
| | action | action | or Disposed of (D) | Securities | ship | of In- |
| | Date | Code | | Beneficially | Form: | direct |
| | | | | Owned at | Direct | Bene- |
| | (Month/ | | | End of | (D) or | ficial |
| | Day/ | +-----------+------+----------+ Year | Indirect| Owner- |
| | Year) | |Amount |A/D |Price | | (I) | ship |
+---------------------------------+----------+-------------+-----------+------+----------+----------------+-----------+------------+
Common Stock 4100 D
Common Stock 3861.2 I 401 (k) Plan
TABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
+-------------+--------+----------+---------+-----------+---------------------+----------------+----------+--------+-------+-------+
|1. |2. |3. |4. |5. |6. |7. |8. |9. |10. |11. |
| | | | | | | | |Number |Owner- | |
| | | | | | | | |of |ship | |
| | | | | | | | |Deriv- |Form of| |
| | | | | | |Title and Amount| |ative |Deriv- | |
| | | | | | |of Underlying | |Secur- |ative |Nature |
| |Conver- | | |Number of | |Securities | |ities |Secur- |of |
| |sion or | | |Derivative |Date Exercisable +-------+--------+ |Benefi- |ity: |In- |
| |Exercise| | |Securities |and Expiration Date | |Amount | |cially |Direct |direct |
| |Price of|Transac- |Transac- |Acquired(A)|(Month/Day/Year) | |or | |Owned |(D) or |Bene- |
|Title of |Deriv- |tion Date |tion Code|Disposed(D)+----------+----------+ |Number |Price of |at End |In- |ficial |
|Derivative |ative |(Month/ | +-----+-----+Date Exer-|Expira- | |of |Derivative|of |direct |Owner- |
|Security |Security|Day/Year) | |(A) |(D) |cisable |tion Date |Title |Shares |Security |Year |(I) |ship |
+-------------+--------+----------+---------+-----+-----+----------+----------+-------+--------+----------+--------+-------+-------+
Stock Option $25.375 11/16/2004 Common 1900 D
(right to buy) Stock
Stock Option $34.875 01/17/2006 Common 10000 D
(right to buy) Stock
Stock Option $41.875 01/22/2007 Common 10000 D
(right to buy) Stock
Stock Option $47.025 01/29/2002 A 20000 01/29/2003 01/29/2012 Common 20000 $0.0000 20000 D
(right to buy) Stock
Stock Option $48 01/25/2010 Common 20000 D
(right to buy) Stock
Stock Option $48.9687 01/27/2008 Common 10000 D
(right to buy) Stock
Stock Option $51.93 01/30/2011 Common 20000 D
(right to buy) Stock
Phantom Stock $0 10/01/2002 A 162.3 Common 162.36 $0.0000 588.36 D
Units 6 Stock
Stock $39.78 02/22/2009 Common 1000 D
Appreciation Stock
Right
Stock $41.0312 01/26/2009 Common 20000 D
Appreciation Stock
Right
Stock $54.84 05/10/2010 Common 26700 D
Appreciation Stock
Right
Explanation of Responses:
Shares included in column 5 that represent an increase from the last report
filed by the reporting person and are not otherwise accounted for by a
transaction on this form were allocated under the Company's Salaried Employees
Savings Plan as of the plan statement dated 12/31/2002. Additional securities
may have accrued to the reporting person's account since that date. The account
is subject to revisions in order to comply with requirements respecting
nondiscrimination standards and limitations on contributions under the Internal
Revenue code of 1986, as amended.
These options were granted under the Company's 2000 Stock Option Plan. The Plan
sets forth certain earlier expiration dates upon the option holder's termination
of employment or cessation of Board service, as the case may be. In addition,
the exercisability of outstanding options may be accelerated as approved by the
committee administering the Plan, and will be accelerated upon the occurrence of
certain specified "change in control" events, in which case the options will be
automatically purchased by the Company at a defined acceleration price.
One half of the options are exercisable on the noted date and the remaining half
are exercisable one year later unless the exercisability is accelerated by the
committee administering the Plan.
These phantom stock units were allocated under the Company's Compensatory
Benefits Plan (the "Plan") and will be settled (on a 1-for-1 basis) upon the
reporting person's retirement, death, disability, or other termination of
employment. Units included in column 9 that represent an increase from the last
report filed by the reporting person and are not otherwise accounted for by a
transaction on this form were allocated under the Plan as of October 1, 2002.
Additional securities may have accrued to the reporting person's account since
that date. The account is subject to revision in order to comply with
requirements respecting nondiscrimination standards and limitations on
contributions under the Internal Revenue Code of 1986, as amended.
SIGNATURE OF REPORTING PERSON
/s/ Jerry R. Gilmore
DATE
02/11/2003