1. Name and Address of Reporting Person
Steuart, David J.
c/o Bowater Incorporated
55 East Camperdown Way
Greenville, SC 29601
USA
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
1/2003
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&Pres-Pulp 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/ +-------+-----+-----------+------+----------+ Month | Indirect| Owner- |
| | Year) |Code |V |Amount |A/D |Price | | (I) | ship |
+---------------------------------+----------+-------+-----+-----------+------+----------+----------------+-----------+------------+
Common Stock 01/28/2003 A 3070 A $0.0000 9770 D
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) |Code |V |(A) |(D) |cisable |tion Date |Title |Shares |Security |Month |(I) |ship |
+-------------+--------+----------+------+--+-----+-----+----------+----------+-------+--------+----------+--------+-------+-------+
Stock Option $40.74 01/28/2003 A 25000 01/28/2004 01/28/2013 Common 25000 $0.0000 25000 D
(right to buy) Stock
Stock Option $41.0313 01/26/2009 Common 25000 D
(right to buy) Stock
Stock Option $45 07/27/2008 Common 25000 D
(right to buy) Stock
Stock Option $47.025 01/29/2012 Common 25000 D
(right to buy) Stock
Stock Option $48 01/25/2010 Common 25000 D
(right to buy) Stock
Stock Option $51.93 01/30/2011 Common 25000 D
(right to buy) Stock
Stock $39.78 02/22/2009 Common 1000 D
Appreciation Stock
Right
Stock $54.84 05/10/2010 Common 18700 D
Appreciation Stock
Right
Exchangeable $0 Common 880 D
Shares Stock
Explanation of Responses:
These shares of Restricted Stock were granted under the Company's 2002 Stock
Option Plan. One half of the grant will vest one year from the grant date and
the remaining half will vest one year later.
These options were granted under the Company's 2002 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.
SIGNATURE OF REPORTING PERSON
/s/ Harry F. Geair, attorney-in-fact for David J. Steuart
DATE
01/30/2003