Mattie Lou O'Kelley

Sale nets former G-P chief $6.7 million
By ROBERT LUKE
The Atlanta Journal-Constitution, 21 March 1994, page E-04

T. Marshall Hanh Jr., retired Georgia-Pacific chairman and chief executive, sold 90,000 shares of stock – or about half his holdings – last month for $6,727,800.

It was his first sale since July 15, 1988, when he sold 15,533 shares at $39.75, according to CSA/Investnet.

Hahn, who retired as chief executive last May and as chairman last December, said through a spokeswoman that the sale resulted from several factors, including estate planning, establishing a trust for his family and a desire to diversity his assets.

In January, Hahn signed a contract to buy a bigger house in Ansley Park and is now in the process of closing that purchase, she said.  He has sold his other house in Ansley Park.

The Atlanta Journal-Constitution reported earlier this month that Hahn bought the bigger house to display his overflowing folk art collection, which includes pieces by Mattie Lou O’Kelley, Grandma Moses and the Rev. Howard Finster.

Hahn has been collecting folk art for 35 years.

“I’ve been able to dedicate more time to adding pieces since I’ve retired,” Hahn told the newspapers then.

According to CDA/Investnet, Hahn sold 30,000 shares on Feb. 4 at $74.18; 30,000 shares on Feb. 7 at $74.94; and 30,000 shares on Feb. 8 at $75.14.  All were open market transactions.

Some of the shares Hahn sold last month were acquired in December, when he was awarded 162,000 shares that he had accumulated from 1988-1993.  It was part of two long-term incentive plans tied to increases in the company’s stock price.

Hahn last exercised a stock option on June 4, 1991, when he acquired 8,315 shares at $46.06 each.  He made his last open market purchase on Feb. 24, 1987, when he bought 411 shares at $47.75 each, according to CDA/Investnet.

Hahn now holds 100,316 Georgia-Pacific shares directly and indirectly, worth $6,834,028 at Friday’s closing price of $68.12 ½ on the New York Stock Exchange.

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