1. Name and Address of Reporting Person
Monahan, Pierre
c/o Bowater Incorporated
55 Camperdown Way
Greenville, SC 29601
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,CanForestProdDiv
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 1160 A $0.0000 8160 D
Common Stock 0 I By son
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 $42.07 09/25/2011 Common 50000 D
(right to buy) Stock
Stock Option $47.025 01/29/2012 Common 25000 D
(right to buy) Stock
Exchangeable $0 Common 2306 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 Pierre Monahan
DATE
01/30/2003