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U.
S. SECURITIES AND EXCHANGE COMMISSION
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WASHINGTON,
D. C. 20549
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FORM
11-K
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[
X
] ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES
AND EXCHANGE ACT OF 1934
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For
the fiscal year ended December 31, 2007
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OR
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[ ]
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF
THE
SECURITIES
AND EXCHANGE ACT OF 1934
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For
the transition period from _______ to _______
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Commission
file number 1-3203
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CHESAPEAKE
CORPORATION 401(k)
SAVINGS
PLAN
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(Full
title of the plan and the address of the plan if different
from
that of the issuer named below)
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CHESAPEAKE
CORPORATION
1021
East Cary Street
Richmond,
Virginia 23219
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(Name
of issuer of the securities held pursuant to the plan
and
the address of its principal executive
office)
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REQUIRED
INFORMATION
The
Chesapeake Corporation 401(K) Savings Plan is subject to the requirements of the
Employee Retirement Income Security Act of 1974, as amended
("ERISA"). Attached hereto are the financial statements of the
Chesapeake Corporation Retirement and 401(K) Savings Plan for the fiscal year
ended December 31, 2007, prepared in accordance with the financial reporting
requirements of ERISA.
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CHESAPEAKE
CORPORATION
401(k)
SAVINGS PLAN
FOR
THE YEAR ENDED DECEMBER 31, 2007
INDEX
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Page
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Report
of Independent Registered Public Accounting Firms . . . . . . . . . . . .
. . . . . . . . .
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1-2
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Financial
Statements:
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Statements
of Net Assets Available for Benefits
at
December 31, 2007 and 2006. . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . .
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3
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Statements
of Changes in Net Assets Available for Benefits
the
Years Ended December 31, 2007 and December 31, 2006 . . . . . . . . . . .
. .
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4
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Notes
to Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . .
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5-10
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Supplemental
Schedules*:
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Schedule
of Assets (Held at End of Year) December 31, 2007 . . . . . . . . . . . .
. . . .
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11-12
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Schedule
of Assets (Held at End of Year) December 31, 2006 . . . . . . . . . . . .
. . . .
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13-14
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Signatures
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . .
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15
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Exhibit
Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . .
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16
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* All
other schedules required by Section 2520.103-10 of the Department of Labor's
Rules and Regulations for Reporting and Disclosure under the Employee Retirement
Income Security Act of 1974 have been omitted because they are not
applicable.
REPORT OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the
Plan Administrator
Chesapeake
Corporation 401(k) Savings Plan
Richmond, Virginia
We have
audited the accompanying statements of net assets available for benefits of the
Chesapeake Corporation 401(k) Savings Plan (Plan) as of December 31, 2007, and
the related statement of changes in net assets available for benefits for the
year then ended. These financial statements are the responsibility of
the Plan's management. Our responsibility is to express an opinion on
these financial statements based on our audit.
We
conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. The Plan
is not required to have, nor were we engaged to perform, an audit of its
internal control over financial reporting. Our audit included
consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of internal
control over financial reporting. Accordingly, we express no such
opinion. An audit also includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements, assessing
the accounting principles used and significant estimates made by management, as
well as evaluating the overall financial statement presentation. We
believe that our audit provides a reasonable basis for our opinion.
In our
opinion, the financial statements referred to above present fairly, in all
material respects, the net assets available for benefits of the Plan as of
December 31, 2007, and the changes in net assets available for benefits for the
year then ended in conformity with accounting principles generally accepted in
the United States of America.
Our audit
was conducted for the purpose of forming an opinion on the basic financial
statements taken as a whole. The schedule of assets held at end of
year is presented for purposes of additional analysis and is not a required part
of the basic financial statements but is supplementary information required by
the Department of Labor's Rules and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974. This
supplemental schedule is the responsibility of the Plan’s
management. The supplemental schedule has been subjected to the
auditing procedures applied in the audit of the basic financial statements and,
in our opinion, is fairly stated in all material respects in relation to the
basic financial statements taken as a whole.
/s/ PKF Witt
Mares, PLC
PKF Witt Mares, PLC
Richmond,
Virginia
June 17,
2008
REPORT OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the
Participants and Administrator of the
Chesapeake
Corporation 401k Savings Plan
Richmond,
Virginia
We have
audited the accompanying statement of net assets available for benefits of
Chesapeake Corporation 401k Savings Plan as of December 31, 2006, and the
related statement of changes in net assets available for benefits for the year
then ended. These financial statements are the responsibility of the
Plan's management. Our responsibility is to express an opinion on
these financial statements based on our audit.
We
conducted our audit in accordance with the auditing standards of the Public
Company Accounting Oversight Board (United States). Those standards
require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis
for our opinion.
In our
opinion, the financial statements referred to above present fairly, in all
material respects, the net assets available for benefits of Chesapeake
Corporation 401k Savings Plan as of December 31, 2006, and the changes in net
assets available for benefits for the year ended December 31, 2006, in
conformity with accounting principles generally accepted in the United States of
America.
As
explained in Note 8 to the financial statements, Chesapeake Corporation, the
plan sponsor, did not file a Form S-8 registration statement with the U.S.
Securities and Exchange Commission to register shares of Chesapeake Corporation
stock, which is included as an investment option under the terms of the
Plan.
Our audit
was made for the purpose of forming an opinion on the basic financial statements
taken as a whole. The supplemental schedule of assets (held at year
end) as of December 31, 2006, is presented for the purpose of additional
analysis and is not a required part of the basic financial statements, but is
supplementary information required by the United States Department of Labor
Rules and Regulations for Reporting and Disclosure under the Employee Retirement
Income Security Act of 1974. This supplemental schedule is the
responsibility of the Plan's management. The supplemental schedule
has been subjected to the auditing procedures applied in the audit of the basic
financial statements and, in our opinion, is fairly stated in all material
respects in relation to the basic financial statements taken as a
whole.
/s/
MCGLADREY & PULLEN, LLP
MCGLADREY
& PULLEN, LLP
Richmond,
Virginia
June 29,
2007
CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
STATEMENTS
OF NET ASSETS AVAILABLE FOR BENEFITS
December
31, 2007 and 2006
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2007
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2006
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Assets:
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Investments
at fair value (Notes 2 and 4)
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$
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4,745,481
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$
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3,769,692
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Net
assets available for benefits
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$
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4,745,481
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$
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3,769,692
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The
accompanying notes are an integral part of the financial
statements.
CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
STATEMENTS
OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
For
the year ended December 31, 2007 and December 31, 2006
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2007
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2006
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Additions
to net assets:
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Investment
income:
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Interest
and dividends
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$
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530,872
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$
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192,815
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Net
(depreciation) appreciation in fair value of investments
(Notes 2
and 4)
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(435,151
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227,005
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95,721
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419,820
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Contributions
(Note 1):
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Employees
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680,683
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600,244
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Employer
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366,970
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183,593
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Rollovers
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52,403
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779,900
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1,100,056
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1,563,737
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Total
additions
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1,195,777
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1,983,557
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Deductions
from net assets:
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Distributions
to participants (Note 1)
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(219,988
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(140,170
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Net
increase
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975,789
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1,843,387
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Net
assets available for benefits, beginning of period
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3,769,692
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1,926,305
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Net
assets available for benefits, end of period
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$
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4,745,481
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$
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3,769,692
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The
accompanying notes are an integral part of the financial
statements.
CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
NOTES
TO FINANCIAL STATEMENTS
1. Description
of Plan:
General
The
Chesapeake Corporation 401(k) Savings Plan (the "Plan") covers eligible
employees of Chesapeake Pharmaceutical Packaging Company Inc. a wholly owned
subsidiary of Chesapeake Corporation ("Chesapeake" or the "Employer"), as
described in the Plan document. The Plan's assets are held by Mercer
Trust Company (the "Trustee" or “Mercer”).
The Plan
is a defined contribution plan and is subject to certain provisions of the
Employee Retirement Income Security Act of 1974
("ERISA"). Information regarding Plan benefits, priority of
distributions upon termination of the Plan, allocation of Plan investment
earnings, disposition of forfeitures, and vesting is provided in the Plan
document, which is available at the main office of the Plan administrator at
1021 East Cary Street, Richmond, Virginia 23219.
The Plan
was declared effective November 1, 2005, and was created by Chesapeake in
connection with Chesapeake's acquisition of Impaxx Pharmaceutical Packaging
Group, Inc. on September 13, 2005.
Employee
Contributions
Participants
are automatically enrolled to defer 2% of annual before-tax
compensation. The Plan also provides for automatic increases of 1%
per year. A participant may elect to defer receipt of 2% to 99% of
annual before-tax compensation, in increments of 1% into the
Plan. Elective deferral contributions may not exceed statutory limits
($15,500 per participant in 2007) in any taxable year. Participants
may also contribute to the Plan amounts representing distributions from other
qualified defined contribution plans. Participants direct the investment of
their contributions into various investment options offered by the Plan.
Participants may discontinue their election to contribute at any
time.
Employees
who reached age 50 by the 2007 Plan year end were allowed
to contribute an additional $5,000 for 2007 and 2006 to their Plan
account; increasing the adjusted statutory limits for these employees to $20,500
in 2007 and $20,000 in 2006.
Employer
Contributions
The Plan
provides for a matching employer contribution each Plan year in an amount equal
to 50% of the first 5% of each participant's compensation that the participant
elects to contribute to the Plan. The matching contributions are
credited to participants' accounts and invested in accordance with the
participants' investment elections. Matching contributions for highly
compensated participants are limited by the Internal Revenue Code as described
in the Plan document. Chesapeake may make contributions on behalf of
specified participants, regardless of whether the participants make elective
deferral contributions, as non-elective contributions.
Participant
Accounts
Each
participant's account is credited with the participant's contribution and
allocations of (a) the Employer's contribution and (b) Plan
earnings. Allocations are based on participant's earnings or account
balances, as defined. The benefit to which a participant is entitled
is the benefit that can be provided from the participant's vested
account.
CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
NOTES
TO FINANCIAL STATEMENTS, Continued
1. Description
of Plan, continued:
Vesting
Participants
are fully and immediately vested in all employee
contributions. Participants are generally vested in employer matching
contributions 20% per year over a five year period, such that a participant is
100% vested after five years of credited service.
Participant
Loans
Employees
who are participants in the Plan may borrow from the vested portion of their
fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000
or 50% of their account balance. Loan terms range from 1-5 years or
up to 10 years for the purchase of a primary residence. The loans are
collateralized by the balance in the participant's account and bear interest at
a rate equal to the prime lending rate plus one percent at the date of
origination of the loan, as determined monthly by the Plan
administrator. Repayment of loans (which includes principal and
interest) is amortized in level payments, made no less frequently than
quarterly. Loan repayments are generally made through payroll
deductions on each paycheck. Loans generally become due and payable
in full once a participant terminates employment. The loans are
subject to certain restrictions as defined in the Plan document and applicable
restrictions under the Internal Revenue Code. At December 31, 2007
and 2006, interest rates on outstanding loans ranged from 5.00% to
9.25%.
Distributions
Benefits
under the Plan become distributable upon termination of employment, upon early
retirement, on or after normal retirement, or upon death or
disability. Benefit payments are made to the participant as a
lump-sum distribution or installment payment. If the present value of
the benefit to be received is less than $1,000, a lump-sum distribution is
required.
Forfeitures
Termination
of employment for reasons other than retirement, disability or death generally
results in forfeiture of the non-vested portion of a participant's
account. Forfeitures are held in the Plan and serve to reduce future
employer contributions under certain conditions described in the Plan
document. There were no unused forfeitures at December 31, 2007 and
December 30, 2006. Forfeitures in the amount of $2,559 and $1,302
were used to reduce employer contributions in 2007 and 2006,
respectively.
Plan
Expenses
Fees of
investment managers or expenses incurred in connection with the purchase or
transfer of Chesapeake Corporation common stock, if any, are borne by
participants who select such investments, and are netted against investment
income. All other expenses associated with the administration of the
Plan are paid by Chesapeake.
CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
NOTES
TO FINANCIAL STATEMENTS, Continued
2. Summary
of Significant Accounting Policies:
Basis of
Accounting
The
accompanying financial statements of the Plan have been prepared on the accrual
basis in conformity with accounting principles generally accepted in the United
States of America.
Investment Valuation and
Income
Investments
are stated at fair value determined as follows:
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Mutual
and money market funds
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Quoted market value
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Common
and collective trusts
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Information reported by the investment adviser
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Chesapeake
common stock
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-
Last published year-end sale price on
the
New York Stock Exchange
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Loans
to participants
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Balances due which approximate fair
value
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Purchases
and sales of securities are recorded on a trade-date
basis. Investment income is recorded as earned. Dividend
income is recorded on the ex-dividend date. The Plan presents in the
Statements of Changes in Net Assets Available for Benefits the "net appreciation
(depreciation) in fair value of investments" which consists of the realized
gains and losses and the change in unrealized appreciation or depreciation on
those investments.
Distributions to
Participants
Distributions
are recorded when paid.
Use of
Estimates
The
preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the financial statements and related
disclosures. Actual results could differ from those
estimates.
As
described in Financial Accounting Standards Board Staff Position, FSP AAG INV-1
and SOP 94-4-1,
Reporting of
Fully Benefit-Responsive Investment Contracts Held by Certain Investment
Companies Subject to the AICPA Investment Company Guide and Defined-Contribution
Health and Welfare and Pension Plans (
the FSP), investment contracts held
by a defined-contribution plan are required to be reported at fair
value. However, contract value is the relevant measurement attribute
for that portion of the net assets available for benefits of a
defined-contribution plan attributable to fully benefit-responsive investment
contracts because contract value is the amount participants would receive if
they were to initiate permitted transactions under the terms of the
Plan. The Plan invests in investment contracts through a collective
trust. Because contract value approximates fair value, the Statements
of Net Assets Available for Benefits present the contract value of the
investment in the collective trust and do not show an adjustment of the
investment in the collective trust from fair value to contract value relating to
the investment contracts. The Statements of Changes in Net Assets
Available for Benefits are prepared on a contract value basis.
CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
NOTES
TO FINANCIAL STATEMENTS, Continued
3. Plan
Termination:
While
Chesapeake has not expressed any intent to discontinue its contributions,
continuance is not assumed as a contractual obligation and any such
discontinuance is subject to the provisions of ERISA. In the event
such discontinuance results in the termination of the Plan, the Plan provides
that each participant shall be fully vested in his or her account and payment of
such amounts will be made by the Trustee as directed by the Chesapeake
Corporation 401(k) Savings Plan Committee.
4. Investments:
Individual
investments that represent 5% or more of the Plan's net assets available for
benefits are as follows:
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December
31,
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2007
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2006
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Investments
at fair value as determined by quoted market price:
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Ready-mixed
funds
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Putnam
Retirementready 2020 Fund (6,261 and 4,088 shares,
respectively)
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$
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352,290
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$
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276,174
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Value
funds
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Harbor
Capital International Fund (9,165 and 8,570 shares,
respectively)
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648,229
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527,750
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Dodge
& Cox Stock Fund (2,548 and 1,749 shares,
respectively)
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352,321
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268,376
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Blend
funds
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Putnam
International Equity Fund (13,668 and 10,774 shares,
respectively)
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376,130
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337,541
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Growth
funds
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American
Funds Growth of America (7,714 and 5,688 shares,
respectively)
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260,410
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185,760
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*
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Capital
Preservation funds
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Vanguard
Prime Money Market (79,982 and 231,628 shares,
respectively)
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79,982
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*
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231,628
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*Amount
was not greater than 5% in year indicated.
During
2007 and 2006 the Plan's investments (including gains and losses on
investments bought and sold, as well as held during the year)
(depreciated) appreciated in value as follows:
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2007
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2006
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Mutual
funds
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$
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(285,415
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$
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205,635
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Common
and collective trusts
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6,083
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13,343
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Common
stock
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(155,819
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)
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8,027
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Net
appreciation (depreciation) in fair value of investments
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$
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(435,151
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)
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$
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227,005
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CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
NOTES
TO FINANCIAL STATEMENTS, Continued
4. Investments,
continued
Certain
prior year amounts reported above have been reclassified to conform with current
year presentation. Net appreciation (depreciation) in fair value of
investments is unchanged due to these reclassifications.
5. Tax
Status:
The Plan
is a proto-type plan designed by Mercer. The proto-type plan obtained
a determination letter on August 9, 2002, in which the Internal Revenue Service
stated that the proto-type plan, as designed, was in compliance with the
applicable requirements of the Internal Revenue Code (the
"Code"). Although the Plan has been amended since receiving the
determination letter, the Plan administrator believes that the Plan is currently
designed and is being operated in compliance with the applicable requirements of
the Code.
6. Party-in-Interest
Transactions:
Certain Plan investments are shares of
mutual funds, money market funds, and common and collective trusts managed by
Mercer. Purchases of Mercer investments of 106,528 shares in 2007 and
114,861 shares in 2006 totaled $1,268,625 and $1,156,672,
respectively. Sales of Mercer investments of 25,093 shares in 2007
and 49,279 shares in 2006 totaled $228,658 and $362,752,
respectively. Certain Plan investments are shares of Chesapeake
Corporation common stock. Purchases of Chesapeake Corporation common
stock of 8,509 shares in 2007 and 7,245 shares in 2006 totaled $127,555 and
$109,916, respectively. Sales of Chesapeake Corporation common stock
of 4,728 shares in 2007 and 4,019 shares in 2006 totaled $56,102 and $62,826,
respectively. These transactions qualify as party-in-interest
transactions that are allowable under ERISA
.
7. Plan
Amendments:
In
December 2006, the Plan was amended effective January 1, 2007 as
follows:
|
·
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To
modify the Employer match to 100% of the first 3% of pay contributed and
50% of the next 2% of pay contributed (a maximum Employer match of 4% of
pay).
|
8. Risks
and Uncertainties:
The Plan
provides for various mutual fund investment options in stocks, bonds, money
market and fixed income securities common and collective trusts, and a direct
Chesapeake common stock investment. Investments are exposed to
various risks, such as interest rate, market and credit. Due to the
level of risk associated with certain investment securities and the level of
uncertainty related to changes in the value of investment securities, it is
reasonably possible that changes in values of investment securities will occur
in the near term and that such changes could materially affect participants'
account balances and the amounts reported in the Statements of Net Assets
Available for Benefits.
CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
NOTES
TO FINANCIAL STATEMENTS, Continued
8. Risks
and Uncertainties, continued
Chesapeake
stock is offered as an investment option under the terms of the Plan. Upon
the Plan becoming effective on November 1, 2005, the Plan sponsor, Chesapeake
did not file a Form S-8 registration statement to register these shares with the
U. S. Securities and Exchange Commission (the “SEC”). Chesapeake filed a
Form S-8 registering these shares with the SEC on August 13,
2007.
9. New
Accounting Pronouncements:
In
September 2006, the FASB issued Statement of financial Accounting Standards
(SFAS) No. 157 “fair Value Measurements” (SFAS 157”). SFAS 157
defines fair value, establishes a framework for measuring fair value and expands
disclosure about fair value measurements. It applies to other
pronouncements that require or permit fair value but does not require any new
fair value measurements. The statement defines fair value as “the
price that would be received to sell an asset or paid to transfer a liability in
an orderly transaction between market participants at the measurement
date. “SFAS 157, as it relates to financial assets and liabilities,
is effective for the Company beginning January 1, 2008.
In
February 2008, the FASB issued FSP FAS 157-2, “Effective Date of FASB Statement
No. 157” (“FSP FAS 157-2”), which permits a one-year deferral of the application
of SFAS 157 for all nonfinancial assets and nonfinancial liabilities, except
those that are recognized or disclosed at fair value in the financial statements
on a recurring basis (at least annually).
The
Company will adopt SFAS 157 and FSP FAS 157-2 effective January 1,
2008. Accordingly, the provisions of SFAS 157 will not be applied to
nonfinancial assets and nonfinancial liabilities, except those that are
recognized or disclosed at fair value in the financial statements on a recurring
basis, until January 1, 2009. The Company is currently analyzing the
impact of SFAS 157 on the Plan’s financial statements.
CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
SCHEDULE
H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December
31, 2007
|
(a)
Parties-In-Interest
|
(b)
Identity of Issue, Borrower, Lessor or Similar Party
|
(c)
Description of Investment Including Maturity Date, Rate of Interest, Par,
Collateral or Maturity Value
|
(d)
Cost**
|
(e)
Current Value
|
|
|
|
|
|
|
|
|
PIMCO
Total Return Fund
|
The
fund targets intermediate-maturity fixed-income securities for all major
sectors of the bond market
|
-
|
$ 149,989
|
|
|
Dodge
& Cox Stock Fund
|
The
Fund invests primarily in a broadly diversified portfolio of common
stocks
|
-
|
352,321
|
|
|
Franklin
Small-Mid Cap Growth Fund
|
Primarily
investing in stocks of small companies with market-cap values of less than
$1.5 billion, similar in size to those in the Russell 2000
Index
|
-
|
203,104
|
|
*
|
Putnam
Growth Opportunities Fund
|
Investing
mainly in stocks of very large, highly competitive growth
companies
|
-
|
164,221
|
|
*
|
Putnam
S&P 500 Index Fund
|
Investing
in common-stock securities, that seeks to approximate the performance of
the S&P 500
|
-
|
139,826
|
|
*
|
Putnam
International Equity Fund
|
Portfolio
composed mainly of stocks of companies located outside the United
States
|
-
|
376,130
|
|
*
|
Putnam
Stable Value Fund
|
Invests
primarily in high-quality, fixed-income investments
|
-
|
182,449
|
|
|
Harbor
Capital International Fund
|
Invests
primarily in equity securities, principally common and preferred stocks of
foreign companies
|
-
|
648,229
|
|
*
|
George
Putnam Fund of Boston
|
Seeks
a balance of capital growth and current income by investing in a
well-diversified portfolio composed mostly of stocks and corporate and
U.S. government bonds
|
-
|
42,279
|
|
|
American
Funds Growth of America
|
This
fund holds a diversified portfolio of common stocks, convertibles,
preferred stocks, US government securities, bonds and cash
|
-
|
260,410
|
|
|
Dodge
& Cox Balanced Fund
|
This
fund seek regular income, conservation of principal and an opportunity for
long-term growth of principal and income
|
-
|
110,659
|
|
|
|
|
|
|
|
|
Vanguard
500 Index Fund
|
This
fund targets long-term growth of capital and income from
dividends
|
-
|
184,635
|
|
|
Vanguard
Prime Money Market Fund
|
Invests primarily in
high-quality, short-term money market instruments, including certificates
of deposit, banker's acceptances, commercial paper, and
other money
market securities
.
|
-
|
79,982
|
|
*
|
Common
Stock Chesapeake Corporation
|
Corporate
common stock, $1 par value
|
-
|
65,248
|
|
*
|
Loans
to Participants of the Plan
|
Interest
rates range from 5.00% to 9.25%; loans are amortized in level payments
with current terms of about 2 to 5 years
|
-
|
210,555
|
CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
SCHEDULE
H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December
31, 2007, continued
|
(a)
Parties-In-Interest
|
(b)
Identity of Issue, Borrower, Lessor or Similar Party
|
(c)
Description of Investment Including Maturity Date, Rate of Interest, Par,
Collateral or Maturity Value
|
(d)
Cost**
|
(e)
Current Value
|
|
|
|
|
|
|
|
*
|
Putnam
Retirementready Maturity Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
66,911
|
|
*
|
Putnam
Retirementready 2010 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
56,298
|
|
*
|
Putnam
Retirementready 2015 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
186,223
|
|
*
|
Putnam
Retirementready 2020 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
352,290
|
|
*
|
Putnam
Retirementready 2025 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
230,114
|
|
*
|
Putnam
Retirementready 2030 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
224,084
|
|
*
|
Putnam
Retirementready 2035 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
165,873
|
|
*
|
Putnam
Retirementready 2040 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
139,510
|
|
*
|
Putnam
Retirementready 2045 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
65,237
|
|
*
|
Putnam
Retirementready 2050 Fund, Class A
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
88,904
|
|
|
|
Total
|
|
$4,745,481
|
|
|
|
|
|
|
*
Indicates party-in-interest
** Cost
is not required for participant - directed investments.
CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
SCHEDULE
H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December
31, 2006
|
(a)
Parties-In-Interest
|
(b)
Identity of Issue, Borrower, Lessor or Similar Party
|
(c)
Description of Investment Including Maturity Date, Rate of Interest, Par,
Collateral or Maturity Value
|
(d)
Cost**
|
(e)
Current Value
|
|
|
|
|
|
|
|
|
PIMCO
Total Return Fund
|
The
fund targets intermediate-maturity fixed-income securities for all major
sectors of the bond market
|
-
|
$ 109,469
|
|
|
Dodge
& Cox Stock Fund
|
The
Fund invests primarily in a broadly diversified portfolio of common
stocks
|
-
|
268,376
|
|
|
Franklin
Small-Mid Cap Growth Fund
|
Primarily
investing in stocks of small companies with market-cap values of less than
$1.5 billion, similar in size to those in the Russell 2000
Index
|
-
|
128,903
|
|
*
|
Putnam
Growth Opportunities Fund
|
Investing
mainly in stocks of very large, highly competitive growth
companies
|
-
|
80,079
|
|
*
|
Putnam
S&P 500 Index Fund
|
Investing
in common-stock securities, that seeks to approximate the performance of
the S&P 500
|
-
|
113,175
|
|
*
|
Putnam
International Equity Fund
|
Portfolio
composed mainly of stocks of companies located outside the United
States
|
-
|
337,541
|
|
*
|
Putnam
Stable Value Fund
|
Invest
primarily in high-quality, fixed-income investments
|
-
|
122,296
|
|
*
|
George
Putnam Fund of Boston
|
Seeks
a balance of capital growth and current income by investing in a
well-diversified portfolio composed mostly of stocks and corporate and
U.S. government bonds
|
-
|
38,263
|
|
|
Harbor
Capital International Fund
|
Invests
primarily in equity securities, principally common and preferred stocks of
foreign companies
|
-
|
527,750
|
|
|
American
Funds Growth America
|
This
fund holds a diversified portfolio of common stocks, convertibles,
preferred stocks, US government securities, bonds and cash
|
-
|
185,760
|
|
|
Dodge
& Cox Balanced Fund
|
This
fund seek regular income, conservation of principal and an opportunity for
long-term growth of principal and income
|
-
|
94,965
|
|
|
Vanguard
500 Index Fund
|
This
fund targets long-term growth of capital and income from
dividends
|
-
|
148,946
|
|
|
Vanguard
Prime Money Market Fund
|
Invests primarily in
high-quality, short-term money market instruments, including certificates
of deposit, banker's acceptances, commercial paper, and
other money
market securities
.
|
-
|
231,628
|
|
*
|
Common
Stock Chesapeake Corporation
|
Corporate
common stock, $1 par value
|
-
|
149,616
|
|
*
|
Loans
to Participants of the Plan
|
Interest
rates range from 5.00% to 9.25%; loans are amortized in level payments
with current terms of about 2 to 5 years
|
-
|
174,284
|
CHESAPEAKE
CORPORATION 401(k) SAVINGS PLAN
SCHEDULE
H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December
31, 2006, continued
|
(a)
Parties-In-Interest
|
(b)
Identity of Issue, Borrower, Lessor or Similar Party
|
(c)
Description of Investment Including Maturity Date, Rate of Interest, Par,
Collateral or Maturity Value
|
(d)
Cost**
|
(e)
Current Value
|
|
|
|
|
|
|
|
*
|
Putnam
Retirementready Maturity Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
57,086
|
|
*
|
Putnam
Retirementready 2010 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
40,294
|
|
*
|
Putnam
Retirementready 2015 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
116,509
|
|
*
|
Putnam
Retirementready 2020 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
276,174
|
|
*
|
Putnam
Retirementready 2025 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
170,006
|
|
*
|
Putnam
Retirementready 2030 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
144,893
|
|
*
|
Putnam
Retirementready 2035 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
96,649
|
|
*
|
Putnam
Retirementready 2040 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
94,262
|
|
*
|
Putnam
Retirementready 2045 Fund
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
36,724
|
|
*
|
Putnam
Retirementready 2050 Fund, Class A
|
Invests
in other Putnam funds based on fund's target date.
|
-
|
26,044
|
|
|
|
Total
|
|
$3,769,692
|
|
|
|
|
|
|
*
Indicates party-in-interest
** Cost
is not required for participant - directed investments.
SIGNATURES
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the members of
the Chesapeake Corporation 401(k) Savings Plan Committee (the "Committee") have
duly caused this annual report to be signed by the undersigned thereunto duly
authorized.
|
CHESAPEAKE
CORPORATION 401(k)
SAVINGS
PLAN
|
|
|
|
By:
/s/ Joel K.
Mostrom
Joel
K. Mostrom
Executive
Vice President & Chief Financial Officer
Chesapeake
Corporation
|
June 19,
2008
|
EXHIBIT
INDEX
|
|
|
|
|
|
|
Exhibit No.
|
Description of
Exhibit
|
|
|
|
|
23.1
|
Consent
of Independent Registered Public Accounting Firm
|
|
23.2
|
Consent
of Independent Registered Public Accounting Firm
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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