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Form 4 SCHWEITZER MAUDUIT INTER For: Mar 31 Filed by: ARNOLD CLAIRE L

April 1, 2015 7:27 PM EDT
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person *
ARNOLD CLAIRE L
(Last) (First) (Middle)
C/O SCHWEITZER-MAUDUIT INTERNAT'L, INC.
100 NORTH POINT CENTER EAST, SUITE 600
(Street)
ALPHARETTA GA 30022
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SCHWEITZER MAUDUIT INTERNATIONAL INC [ SWM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
03/31/2015
4. If Amendment, Date of 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
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
SWM Common Stock               8,420 D  
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 Securities Underlying Derivative Security (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: 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
Phantom Stock Units (1) $ 0 03/31/2015   A   389   08/08/1998 (2) 08/08/1998 SWM Common Stock 389 $ 46.12 47,667 D  
Phantom Stock Units (3) $ 0 04/01/2015   A   406   08/08/1998 (2) 08/08/1998 SWM Common Stock 406 $ 46.12 48,073 D  
Phantom Stock Units (4) $ 0 04/01/2015   A   351   08/08/1998 (2) 08/08/1998 SWM Common Stock 351 $ 46.12 48,424 D  
Explanation of Responses:
1. Dividends credited pursuant to the Director's election in accordance with the Schweitzer-Mauduit International, Inc. Deferred Compensation Plan for Non-Employee Directors and the Schweitzer-Mauduit International, Inc. Deferred Compensation Plan No. 2 for Non-Employee Directors ("Plans"). The Plans were filed as Exhibit 10.8.2 to the 1st quarter 2000 10-Q and Exhibit 10.15 to the 2004 10-K, respectively.
2. Stock units can be convered to cash upon the earlier of retirement from the Board or termination as a Director in accordance with the Plan. Conversion into cash is based on the fair market value of SWM common stock on the date of conversion.
3. Director's quarterly stock retainer deferred pursuant to the Director's election in accordance with the Plan.
4. Director's quarterly cash and committee meeting retainers deferred pursuant to the director's election in accordance with the Plan.
Honor Winks as attorney-in-fact 04/01/2015
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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