FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Lind Bonnie Cruickshank   2. Issuer Name and Ticker or Trading Symbol Neenah Paper Inc [NP] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) SVP, CFO, and Treasurer (Last) (First) (Middle) 3460 PRESTON RIDGE ROAD, SUITE 600 3. Date of Earliest Transaction (Month/Day/Year) 05/21/2007 (Street) ALPHARETTA, GA 30005 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common stock 05/21/2007   M   10,389 A $ 24.006 33,332 D   Common stock 05/21/2007   M   4,313 A $ 37.594 37,645 D   Common stock 05/21/2007   M   9,491 A $ 32.873 47,136 D   Common stock 05/21/2007   S   10,389 D $ 43.028 36,747 D   Common stock 05/21/2007   S   4,313 D $ 43.133 32,434 D   Common stock 05/21/2007   S   9,491 D $ 42.978 22,943 D   Common stock 05/21/2007   M   5,194 A $ 30.149 27,315 D   Common stock 05/22/2007   M   2,267 A $ 27.58 29,582 D   Common stock 05/22/2007   S   2,267 D $ 44.077 27,315 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (right to buy)

$ 24.006

05/21/2007

M

10,389

02/17/2006

02/16/2013

Common Stock

10,389

$ 0

106,125

D

Stock Option (right to buy)

$ 37.594

05/21/2007

M

4,313

02/22/2001

02/21/2011

Common Stock

4,313

$ 0

101,812

D

Stock Option (right to buy)

$ 32.873

05/21/2007

M

9,491

02/18/2002

02/18/2012

Common Stock

9,491

$ 0

96,634

D

Stock Option (right to buy)

$ 30.149

05/21/2007

M

5,194

12/01/2004

02/25/2008

Common Stock

5,194

$ 0

91,440

D

Stock Option (right to buy)

$ 27.58

05/22/2007

M

2,267

02/21/2007

02/07/2016

Common Stock

2,267

$ 0

89,173

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Lind Bonnie Cruickshank 3460 PRESTON RIDGE ROAD SUITE 600 ALPHARETTA, GA 30005			SVP, CFO, and Treasurer

Signatures

/s/ Steven S. Heinrichs, by Power of Attorney		05/23/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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